How to Determine Which Auto Insurance Plan is Right for You

October 19th, 2012 by

How to choose the right auto insurance for you.

These days, it seems that there are almost as many auto insurance options as there are different types of automobiles. It can be difficult to choose what plan is right for you, especially when some of them could save you hundreds, even thousands, of dollars a year.

Our insurance advice is brought to you by Cox Chevrolet, your Chevy dealership in Bradenton, FL.

Making Sense of Your Options

There are two big things you’ll want to consider when picking an insurance plan: the amount of coverage you need and your budget. Sometimes, that first choice will be made for you. There are some states that require certain levels of minimum coverage, but you’ll also find that if you are leasing your vehicle or financing its purchase, your lender will often require that you have full coverage. Depending on your driving history, that could get a bit expensive.

At the base level, every state has required liability coverage, which will cover you if your vehicle causes damage to someone or something else. It will not cover the repairs to restore your vehicle, however. This is generally the least expensive route to go.

Both of those are issues that you could be stuck footing the bill for if you’re not careful, even though they aren’t your fault.

Then there’s the other end of the spectrum with comprehensive coverage. A comprehensive plan is exactly what it says it is; this type of insurance is sometimes referred to as “full coverage” for that same reason. In addition to giving you collision protection, at-fault or not, you will usually enjoy varying levels of coverage for environmental protection, vandalism, or theft. Comprehensive coverage is usually the most expensive, but it is also the safest bet for protecting you and your vehicle.

The rates on all of these types of plans will vary based on deductibles, and you’ll want to make sure you can afford the deductible if you need to. A few extra dollars a month could save you hundreds or thousands in the event of an accident. Don’t forget that many providers allow you to add on vandalism, natural disaster, or theft coverage to liability or collision plans as well. If you have any questions, speak to your insurance provider.

Posted in Automotive Tips