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The Biggest Auto Insurance Mistakes

Purchasing auto insurance in one of the biggest financial decisions you can make.

Below is a list of the biggest auto insurance mistakes that people make that you should avoid at all cost.

  • Only Looking at the Price. While price is the most important thing to many individuals purchasing auto insurance, it is important to take a look at what you are getting for the price. For example, if you were to gather a quote from three different insurance companies and simply chose the one that offered the lowest premium, you may not be getting something that you really need. If you were to look closer, you may find that there is coverage you need with another company for just $20 more per month. Be sure to cross-examine each company and what they offer for the price; otherwise, you may find yourself in trouble later down the road.
  • Not Being Honest About Your Driving History. This pertains more to online quotes than live agent quotes because a quote online is simply giving basic information to find out an estimated quote. If you don’t check that you had a speeding ticket last year and a car collision three years ago, your quote will not be accurate. In fact, when you actually get a full quote from the insurance company, it could be $100 more because of the little lies you told. If you thought they wouldn’t check your driving record then you are wrong because they will and that’s one of the first things they do. It’s always best to be up-front and honest when obtaining quotes to ensure you get the most accurate quote.
  • Just Following the Law. While it will save you money now, purchasing the state’s minimum required auto insurance could go deeper in your pockets for expenses later. If your vehicle isn’t worth more than $1,000 then definitely consider getting rid of comprehensive and collision insurance. Keep in mind that the insurance industry actually recommends drivers to carry $100,000 for bodily injury per individual and triple that per accident.

These are the top three biggest auto insurance mistakes drivers make every day. It’s important that you save money when you get your auto insurance policy, but don’t let it hurt you in the long run.