Car insurance is one of those things that people buy with the hope that they never have to use it. While most consumers will be a part of an incident that involves insurance companies, it's not something that people think about much until it happens. Unfortunately, not paying attention to your auto insurance when you buy it can be a problem when the time comes to make a claim. Many life lessons in insurance are learned through negative experiences that consumers would preferably have avoided. At the Nolen Insurance Agency, our goal is to help people get the coverage they need without falling victim to avoidable pitfalls. Here are four common auto insurance mistakes to avoid.
Not Shopping Around
When many people buy insurance, it's one of the last things they need to do before they can drive away with their new vehicle. Under those circumstances, it's understandable that many insurance shoppers take the first offer they find reasonable and call it a day. However, you could be doing yourself a big disservice by not shopping around for a better price. Researching other insurance companies ensures you aren't paying too much and that you're getting the best coverage for the price you pay. Part of the reason why some national auto insurers only give estimates for their own policies is that they know people won't want to go to another insurer and start the process over again. A benefit of working with the Nolen Insurance Agency is that we only need to take your information once to search through several different insurers to find the one with the best rate for you.
Only Buying The State Minimum Requirements for Insurance
Everyone is required to have insurance on a vehicle that's on the road, but this insurance isn't a great safety net for drivers. The minimum requirements from the state are not the recommended guidelines for protection. It's the lowest level of insurance that would be acceptable for most situations. If you are involved in a severe accident that requires extensive medical treatment or time away from work, an insurance plan with the state minimum requirements won't cover your needs for long. By working with an agent at the Nolen Insurance Agency, we can carefully discuss your needs to make sure you get an insurance plan that will genuinely cover your needs in an accident.
Not Understanding Your Policy
As was mentioned before, many consumers don't pay attention to their insurance policy since they assume they'll never need it. Furthermore, insurance companies make it easy for people to misunderstand what their policy does, or does not, cover. If you ask people what's the best kind of insurance, most would reply "full coverage." This answer is only partially correct. Full coverage is a very vague term, and your insurance may have gaps that you don't realize until something unfortunate happens. For example, your comprehensive coverage may have a limit that means you aren't entirely off the hook if you hit someone with a very expensive car. Bring your current policy to the Nolen Insurance Agency, and we can identify any gaps or potential cost savings in your insurance plan.
Not Considering Policy Extras and Add-Ons
Since insurance is something that people don't expect to use, they often forego policy extras and add-ons that would come in handy during an accident. One of the biggest mistakes people make is not having uninsured motorist coverage. This add-on may seem unnecessary since every driver is required to have insurance, but plenty of people drive without insurance. Many hit and run accidents are the results of one of the drivers not having insurance. Even if the odds of being hit by an uninsured motorist are rare, it happens enough that it's better to get the policy add-on, rather than find yourself completely without help if it ever happens. Similarly, paying a few dollars for rental coverage is worth it when your car is being repaired, and you need a car in the interim period. Talk to a trustworthy insurance agent, such as those at the Nolen Insurance Agency to help you make the best choices when deciding on optional add-ons for your policy.
The Nolen Insurance Agency provides insurance for your home, auto, life, and more. If you have any questions about saving money on insurance or improving your coverage, call us or send us a message online.