tips-shopping-auto-insurance

Whether you are shopping for auto insurance over the web or on the phone it is very important that you understand what coverages you currently have and you have your existing policy with you in hand when calling around to avoid getting ripped off. As in any business you will find unethical people that are more concerned with taking your money rather than looking out for whats best for you, the customer. Unethical brokers may cut your coverage in order to provide you with a lower rate leaving you dangerously exposed.

When shopping for insurance make sure you read off coverage for coverage to get an apples for apples comparison and make notes on any differences. Make sure the liability limits, uninsured motorist limits, deductibles, medical payments, towing, rental car reimbursement match exactly. Be sure to review your policy for newer coverage options such ash as loan lease gap coverage, new car replacement, diminishing deductible, etc. in order to get a true comparison.

Cutting coverage is not saving money! Cutting coverage may leave you in worse finanacial shape than had you remained with your current carrier and coverages before deciding to switch to the "low cost" insurance carrier/broker. For example , you choose to move your auto insurance in order to save $100 per year, but the unethical broker didn't tell you he quoted you $15,000 per person/$30,000 per accident bodily injury limits, rather than the $50,000 per person/ $100,000 per accident bodily injury limits you had with your previous carrier. You are then involved in an accident and injure another party that had one passenger in the car with them. The medical bills for the other parties add up to $50,000 each. Your new carrier will only pay out $15,000 for each person for a total of $30,000 and then they walk away leaving you responsible for the remaining $70,000 balance, but had you remained with your prior carrier that provided the $50,000/$100,000 limits they would have covered the whole claim leaving you with nothing out of pocket, so the net result of this real life example is you ended up losing $69,900 as opposed to believing you were saving $100. 00 when in reality you were cutting coverage leaving yourself dangerously exposed.

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