Auto Insurance for Newbies

Auto Insurance for Newbies

Jason Hartman would like to remind you that you’re a statistic to the auto insurance industry. They don’t care that you can salsa better than anyone on your block, or how many old ladies you helped across the street. The entirety of your life experience will be reduced to statistics that will determine how much you pay for car insurance.

You are going to get car insurance, right? Don’t be the uninsured motorist goober who messes up the system for everyone else. To the insurer you are a “set of risks” that will determine the premium you’ll pay if they decide to insure you at all. Yep, sometimes they turn people down as being too high of a risk.

Shop around. There can be a great deal of price difference between insurers, even for basically the same coverage. It’s easy to comparison shop online to narrow down choices, then call around to nail down details. Remember it’s not ALL about price. Pay attention to the insurer’s reputation for claim service and financial stability.

Most states have a minimum level of insurance that drivers are required to carry. You might consider bumping up your coverage. Often the price increase is not too drastic. Increased coverage could actually pay to have your car repaired if you cause an accident. This could be very handy if it is your only means of transportation. Lastly, don’t forget to ask for discounts. Insurers might offer a variety of discounts for safe driving, good grades, and more. You’ll never know if you don’t ask.

The Young Wealth Team