Monday, March 8, 2021

The benefits of having auto insurance

Owning a car can be quite expensive, on top of the price you paid to buy it. Although it can be expensive, the benefits of auto insurance outweigh the cons. Driving your car without insurance is quite risky and as a matter of fact illegal given the harm it can bring to yourself and others around. The benefits of having auto insurance gives you that financial peace of mind acquired from coverage. No one can see the future, and predict if your car will be stolen, robbed from, be involved in an accident or anything else. With insurance, you are protected financially from any fallout as a result of these. Other benefits of having auto insurance include repair in case of flood damage, fire damage and even law suits on charges brought against you.

When it comes to deciding on an insurance provider, you have a great many choices. If you make the wrong decision, you might have to deal with a hefty monthly bill, and if you actually need to file a claim, you may run into unexpected roadblocks.

The national average for insurance is $1512, per year. In terms of affordablity, Erie is the most affordable major insurer in the US. On average, drivers with Erie only pay an average of $1,052 per year. In second place is GEICO, which is also the second largest auto insurer in the U.S., when judged by market share. Drivers there pay an average of $1,067 each year. Veterans, those currently serving, and their families are eligible for USAA, which offers great deals, but is not available to civilians. 

Please bear in mind that prices can vary wildly between and within states. Be sure to shop around for the best deal, you may be surprised. In some states, small, local companies have been found to offer the best price, they’re just not as well known. Get more than one rate quote, and if you’re willing to go high on your deductibles, you may be able to reduce your rates. You can then set aside a portion of these funds to cover your costs in the event of a claim.

In fact, simply ask what discounts are available.You may well be eligible for a discount, all you have to do is ask.

Once you know the benefits of auto insurance, you know what would suit you and your car best.