Whether you’re a first time buyer of auto insurance or already have it but are looking for a better deal, you should be asking several questions.
First, is the person from whom you’re buying (your agent) a visible, established member of your state, and community – someone you know and trust? Second, is the company from whom you’re buying well known? What is its reputation? Does the policy you are buying meet the State Specific requirement for bodily injury and property damage liability and uninsured motorist? If not you could find yourself in a bad situation. Make sure your policy carriers no less that 25,000 per person,50,000 total,and 25,000 for property damage to stay out of trouble with most of your state department of motor vehicles, make sure to check with your individual state to see what their exact requirement is. What about price? Make sure you don’t confuse cheap for good. Often you can buy two or three times the state required minimum limits for just a few bucks extra per month. Because there are hundreds of companies competing for your business, prices vary – sometimes a lot. It may pay you to shop. Be sure the premiums you’re quoted are for equal amounts of coverage.
How about service? Is there a local representative to see you if you need help or have an emergency? Price is important but saving money won’t mean much unless you get the service you need – when you need it. If possible, ask other clients of your prospective agent how they’ve been treated, especially when they’ve had a claim. Find out how the company handles out of state claims, if you have a claim while on vacation, does the company you are dealing with have a representative to help you locally?
How about solvency? Is the company you’re considering still going to be in business when you file your claim? Your state department of insurance has financial rating information on all of the companies that do business in your State Once you’ve decided on a company and an agent, there are more questions to ask.
How much coverage do you need? The required minimum amounts of liability coverage may not be enough for you.
Consider your needs in light of your assets and income. How much can you afford to pay if there’s a big judgment against you because of an accident? What about deductibles? Deductibles lower your premiums – most commonly for collision and comprehensive coverage – but increase the amount of loss that comes out of your pocket.
How much additional risk are you willing to take in order to save? Should you carry collision and comprehensive coverage? As your car’s value decreases, you might consider dropping these coverage and pocketing the savings on premiums. But consider if the savings are enough to offset the risk of footing the entire cost of repairing or replacing your car.
Auto insurance is not a generic commodity. It is a product that should be tailored to each individual. Your Virginia agent can help you answer these questions and help you tailor your auto insurance to your specific and unique needs.
Find out the latest information on Virginia Auto Insurance, and how to get the right protection at the right price. The advise is free the choice is yours.