Figuring out the right auto insurance policy for your personal needs can be daunting, but we have written up a list of ten important things to remember when you speak with your insurance agent, that way you get the best deal possible. So let’s get to it!

The whole house:

You must make sure that all drivers living in your household are declared. If a resident relative lives with you they must be on the policy. If you have a roommate, they won’t typically need to be declared, unless they do not have their own car and insurance. 

Wanna save a little?…Or a lot!:

Most companies offer a significant discount for paying the premium in full for the policy term. Take advantage of this, as it can save you hundreds of dollars per year.

Let’s do the math together:

Many people look only at the price of auto insurance, without understanding the coverage.  The liability limit you choose is critical in protecting you, and your family’s future(s). For instance, if you have only state minimum coverage of $25,000 per person injured / $50,000 for all injuries in an accident / $25,000 for property damage, you are leaving yourself exposed to potential disaster. If you were to strike a newer vehicle worth $40,000, your insurance would pay up to the $25,000 limit for property damage and you would be responsible for the remaining $15,000. It’s even worse with the possible bodily injuries that could occur. If you injure someone and they have to stay in the hospital, bills can easily reach $100,000. If you only have $25,000 per person injured, you will be responsible for the remaining $75,000! Buying too little insurance is far more expensive than buying the right amount.

A policy can’t always be there for you:

Understand the limitations on roadside assistance and rental car coverage. Many policies only allow a small number of incidents every year, and many will only reimburse you for the expenses incurred, including rental cars needed when your car is in the repair shop due to a claim. Look closely, it may be much better to buy a towing service, like AAA, instead of using an insurance claim to cover it.  

You don’t drive much:

If you drive less than 8,000 miles per year, make sure you let your agent know. There may be low usage classes for your vehicle to help reduce cost, while maintaining the same valuable coverage!

Don’t skimp out:

Buy your insurance from an ‘A’ rated company. This means they have the financial reserves to make sure they can pay any claim. Unrated companies may be cheaper, but they provide far less value. Don’t confuse price and value when buying insurance. If they go out of business and you have a claim, you will wish you had bought insurance from an A rated company. You deserve more value for your hard earned dollars!

Be diligent:

Set yourself up for success during a claim. If you are in an accident, call the police whenever possible, no matter how little the damage. This single act protects you more than any other. Get the police report number from the officer, take pictures of the license plate and vehicle involved, get contact/insurance policy information from the other driver, and collect witness information from all witnesses at the scene. By doing this, your agent can help file a claim with the other driver’s insurance if it was their fault. If there is a dispute on what occurred, you will have witness names, driver information, and pictures of the scene to back up your claim.

Be proactive:

If you ever get a ticket, or get in an accident, let your agent know immediately. In most states, they will need to file a “Certificate of Compliance” with the BMV to prove you had insurance on that date. If you do not do this, the BMV will suspend your drivers license!

Protect the treasure:

If you have a collectors vehicle, or a high value vehicle, never put it on a standard auto policy with an “Actual Cash Value” payment method. It is far better to use a specialty insurance company and add the vehicle as an “Agreed Value Vehicle”, to make sure you will be taken care of, should it be damaged. Not doing this can cause thousands of dollars in unpaid damage to your prized possession!

Get those savings:

Whenever possible, schedule your ATV, golf cart, motorcycle, or RV on your auto policy for a large savings in premium, versus a stand alone policy. There are times when a stand alone policy is appropriate, especially for high value assets, but most often putting them on the auto policy is the way to go.

As always, we here at Howard Webb Insurance want to see you living your best, most secure life! Be sure to consult your insurance professional in regards to all of these tips, to ensure that you are properly insured. Or reach out to us via phone, (765) 644-8847, or  email, hwsm@hotmail.com, to get you on the road to safe and protected driving today!

** This list is in no particular order. This list is meant as a general guideline to purchasing insurance and does not apply to all insurance agencies and situations. You should always obtain coverage advice that has been reviewed by an insurance professional that is licensed in the state in which you reside. This is purely an informational list for you to consider. **

Article written by contract writer and digital media coordinator: Candace Cox. You can reach her at socials@howardwebbins.com or candacecox96@gmail.com.