Auto Insurance Mistakes Prove Costly, Dangerous
Making any of the common mistakes on your auto insurance policy can end up costing you thousands of dollars or more in unpaid claims. According to a recent article on InsuranceAgents.com, many auto insurance customers donít realize that they have exposed themselves to significant financial risk.
According to the article, ďWith your own money on the line, mistakes on your auto insurance are the last thing you want to make. Too many people donít realize the mistakes theyíre making on their auto insurance until it is too late ...Ē To save money many policy holders cut corners to reduce their coverage to state minimums and eliminate critical coverages like uninsured motorist coverage.
Uninsured motorist coverage covers the expenses involved with being in an accident with someone who does not have auto insurance. It covers all the typical expenses like medical bills, auto repairs, and liability that would typically be covered if the other driver was actually insured. Donít make the mistake of dropping this coverage, especially when 1 in 10 drivers in uninsured.
The article continues, ďNot getting [uninsured/underinsured motorist] coverage can prove disastrous if you ever got into an accident with a driver who either didnít have auto insurance or was underinsured. Because that means you and your auto insurance carrier will suffer for the other driverís foolishness.
Furthermore, this coverage is relatively cheap in most cases. And it offers a variety of protection including paying for your medical bills, lost income as well as pain and suffering.Ē
Aside from uninsured motorist coverage itís important that you make sure you are not underinsured and have the appropriate amounts of liability coverage as well. Make sure you have the appropriate amount of insurance coverage for your financial standing and assets that you own. Lawsuits are as common place as ever, so donít expose yourself to unnecessary financial risk by skimping on the liability coverage. The state minimums in many cases are not nearly enough to pay for the medical, repairs, legal costs, and personal liability associated with a major collision.
If you are looking to save money on auto insurance, donít skimp on the coverage, but instead save money by using an online comparison website such as InsuranceAgents.com.
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