| 2TORIAL |
| Learn2 |
Shop for Car Insurance
(6 steps)
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Cover your car--
Here's the good news: you probably won't get in an accident in the next twelve months. And the bad news? You still need to insure your car! Driving is risky business, and a couple of tons of metal can do a lot of damage, especially when moving at high speeds.
Unfortunately, auto insurance doesn't always come cheap. In fact, if your policy's too inexpensive, you might not be getting enough protection--and that could end up costing you big. But if you're paying through the nose, something's wrong, too. You might want to look around for another insurer, or simply give up the costlier extras that aren't worth your money. In this 2torial, we'll point out the most prevalent types of car insurance policies available today, and explain the steps you can take to get the most coverage for the lowest cost.
Before you begin
You should know that most, if not all, auto
insurance policies have four basic elements of
coverage. Your own policy doesn't necessarily need
to include all four, but you should know what they
are:
- Liability: Covers costs when you
injure someone or damage their property (i.e.
their car) when you're driving. This is the most
important element of car insurance.
- Medical coverage: Pays for medical
treatment for you and your passengers in the
event of an accident. Sometimes, coverage
includes disability insurance and may even
reimburse you for pain and suffering.
- Collision/comprehensive: Collision covers damage due
to an accident, up to the book value of your car. Comprehensive
covers other kinds of loss or damage, for example theft, flood
or vandalism.
- Uninsured/under-insured drivers: If
an uninsured or under-insured driver injures you
or your passengers, you could be stuck with the
bill unless you have this coverage.
For the most part, evaluating a policy will
consist of comparing the proportion of coverage in
these areas to your own personal needs. You can,
however, find many other kinds of auto-related
coverage areas besides these four biggies: some
policies will reimburse you for towing services or
car rentals that result from an accident...heck,
some companies will even insure your CB radio. It
makes sense to take care of the fundamentals, then
decide if such extras are a good or a bad bet.
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Go to Step 1 of 6
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| 2TORIAL NECESSITIES |
- The year, make (manufacturer's name) and model of your car.
- Your car's VIN, or vehicle identification number (optional).
- A copy of your current insurance policy (if applicable)
- Personal info (age, sex, marital status) and driving history
- Internet access, to search for policies and receive online price quotes (optional)
- A list of auto insurance companies for comparison shopping.
- Contact information for your state's insurance commissioner
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