Every car owner needs auto insurance, but making these mistakes could mean you’re paying more than you need to for your policy.
Finding the right auto insurance can be a time-consuming process and many car owners try to rush through the process. However, rushing could result in costly mistakes. Find out which common and costly auto insurance mistakes you should avoid.
Setting a Low Deductible
Many drivers agree to pay a low deductible so that they can afford coverage if they make a claim. However, the lower deductible you assume, the higher your insurance premium will be. If you don’t file claims often, then you could be losing money by paying for your high premium. Consider raising your deductible if financially possible for you. This will lower your premium and save you money over time.
Buying Minimum Insurance
Each state has a requirement for the minimum amount of auto insurance a driver needs to have. To save money, many drivers only pay for these insurance minimums. However, this is a short-sighted strategy. If you ever cause an auto accident, your insurance will cover very little and the rest of the financial burden will fall on your shoulders. In the long run, it’s safer and more cost-efficient to pay for the coverage you really need.
Failing to Review Before You Renew
Sometimes your insurance company doesn’t catch changes in your circumstances. While you might qualify for discounts or lower rates, your policy might not reflect these changes. That’s why it’s so important to review your policy before you renew it. In this instance, being lazy or too complacent could cost you some serious money.
Make sure you aren’t paying more for your auto insurance than you have to by avoiding these costly mistakes. For assistance with your insurance, contact the professionals at Fullhart Insurance Agency. Serving all of Waldport, Reedsport, Sisters, and Tigard, Oregon, and the surrounding areas we serve all your personal and commercial insurance needs.