Streetsmart insurance Blog
If you’re planning to purchase an auto insurance policy, don’t only get swayed by advertisements. Try also to do thorough research and discuss the terms with your insurance agent. Here are common mistakes you’ll want to avoid.
People Want to Save Money on Auto Insurance
In the world today, the industry of auto insurance is in constant competition for the lowest rates. People are bombarded with commercials that declare the amount of money you can save when you purchase the policy. You can quickly get quotes and purchase policies with only a click of a mouse without talking to an insurance agent to explain the potential risk of the plan. It’s, unfortunately, becoming a norm that the cheaper it is, the better, and the prevailing thought of “I can do this without help.”
There’s Something Called Limits
While having a good deal is indeed fulfilling, it’s still critical to understand one vital detail before investing in an auto insurance policy: limits. Most of the time, the lower the given rates are, the lower your limits are too. And although these low limits are beneficial for your wallet as of the moment, they most likely will cause you trouble if you were to get involved in an accident.
Consider these two significant factors when you review limits: property damage liability and bodily injury liability. These are the crucial protections included in a policy if you are found guilty in an accident.
Accidents Are Getting More Costly
Despite cars armored with metal, they are still surprisingly fragile. We’ve all heard a story of a small car accident that led to a completely wrecked vehicle. There are some accidents where both vehicles going at a speed of 20 miles per hour, and both cars were smashed to pieces. Having $35,285 as the average car price, a limit worth $5,000, unfortunately, isn’t much protection.
Additionally, medical expenses are also on the rise and continue to climb. You might be surprised to find out that a non-disabling injury’s average cost is $53,2000, while a disabling injury costs a whopping $208,500.
Try not to make the mistake of having lower limits all because of the cheaper rates. The money you might be saving now will be nothing once you’re involved in an accident. Discuss with an insurance agent and take note of the potential risks.
At Street Smart Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (732) 462-8343 or Click Here to request a free quote.