Holicent
VIP Contributor
The insurance industry is a huge business, and it's not going away. But there are some things that can help you get the right kind of coverage for your needs. First, know what you're looking for. If you have a high-risk occupation, like construction or farming, then you may need to purchase more comprehensive coverage than someone in a less risky line of work. Likewise, if you're an older driver with many miles on your license, then it makes sense to look at higher deductibles and/or lower premiums.
Next, make sure that the policy includes all the important aspects of coverage — collision and comprehensive, liability and property damage. If it doesn't, consider adding them on later. It's also important to understand how those claims are paid out — with cash value vs actual cash value — so that you know what kind of financial benefits will come from each deductible level (and how much money is available after your deductible is met).
Finally, think about how much coverage you really need. If something happens unexpectedly and damages more than your vehicle or home (like an earthquake), then having enough liability coverage might not be enough.
Next, make sure that the policy includes all the important aspects of coverage — collision and comprehensive, liability and property damage. If it doesn't, consider adding them on later. It's also important to understand how those claims are paid out — with cash value vs actual cash value — so that you know what kind of financial benefits will come from each deductible level (and how much money is available after your deductible is met).
Finally, think about how much coverage you really need. If something happens unexpectedly and damages more than your vehicle or home (like an earthquake), then having enough liability coverage might not be enough.
