National Car Insurance Day: More Tips and Pointers on Selecting the Right Car Insurance Plans for You and Your Family

Today is National Car Insurance Day!  Last month, our Body Shop wrote a great post on how to select and find the right car insurance and get the best coverage.  So for today’s blog, we’re going to share some extra pointers and reminders to expand on their fantastic advice! 

More Things to Consider When Selecting an Insurance Plan and Coverage

• Check your local and state guidelines for required insurance coverages. Some regions and states may legally require specific coverage levels or policy types for residents, while others may have more flexibility in coverage.
• Get quotes from several different insurance companies before selecting your policy, and compare the benefits, perks, and financials of each. You may get better rates at one company over another for the same level of coverage!
• Consider shopping around for a new policy every few years to make sure you’re getting the best rates!  You may find better rates at a different insurance provider due to age, vehicle type, location, or even driving habit history.
• Make a list of your must-haves and additional coverage options that would benefit your driving style. Those who are on the road more often, or who may have significant travel for work, may benefit from additional perks such as Roadside Assistance or Rental Car Reimbursement plans.  Likewise, deselect these add-on options before starting your policy if they do not fit your lifestyle and driving needs; it will save you lots of money for features you’re not using.
• Explore your options for discounts by payment plan style and/or driving history. An insurer may offer you the choice of whether you’d prefer to do single pay, quarterly pay, or monthly pay options. Some insurance companies offer discounts for single pay or quarterly installments, or additional savings breaks if you’ve set your premiums up to be paid automatically.
• If you’ve got renters or homeowners insurance, or other vehicle insurance such as boat or motorcycle, you may inquire of your provider about bundling your premiums. Many companies will offer significant savings when you select multiple policies options through their umbrella of coverage plans.

What about types of coverage? Let’s take a look at the different types of coverage insurers offer, and which may be required policies for residents of specific states.

Types of Coverage and Policies

• Liability Coverage – This type of coverage pays for both property damage you cause to someone else’s property, as well as any bodily injury or harm caused to others resulting from the accident. This may include hospital bills, medical bills, loss of wages, pain and suffering, etc.
• Uninsured and Underinsured Motorist Coverage – This coverage protects you from damages due to the other vehicle/driver’s inadequate or lack of coverages. Some drivers operate vehicles without insurance or with less-than-adequate coverage, and this plan will cover many of those gaps.
• Personal Injury Protection – This type handles your medical/rehabilitation and hospital costs, any work/wage-loss costs, and funeral/burial expenses. This is sometimes referred to as no-fault insurance, as it covers expenses regardless of who is at fault in the accident.
• Comprehensive and Collision – Comprehensive insurance provides coverage for accidents and events that are outside of your control, including things like weather, theft, or vandalism, etc but it does not cover hitting another vehicle or object, nor wear-and-tear. .  Collision coverage keeps you protected from collisions with another vehicle or object; some drivers choose to opt out of collision if the cost of premiums overshadow the estimated value of their vehicle. (Ex: if your vehicle is used or older and is worth $1500, but your premiums are $1800, you may not wish to carry collision coverage.)  These policies may be required by your lender if you’re leasing a vehicle or your car is on financing plans.

Posted in Classic Kia | Comments Off on National Car Insurance Day: More Tips and Pointers on Selecting the Right Car Insurance Plans for You and Your Family