One of the soundest investments that one can make - and Robert Jain and others in finance will agree - is auto insurance. Most people use cars, vans, and other such vehicles to get around, and while they are usually careful when behind the wheel, the margin for error always exists. Before you put the money down for this type of insurance, it's important to know what you're investing in. Here are the most important auto insurance questions to ask.
"Before I buy auto insurance, do I require it by law?" Most of the United States has mandated car insurance, meaning that, depending on where you live, you must buy some form of insurance for your vehicle. There are exceptions to the rule - New Hampshire is perhaps the most prominent - and the specific plan needed will depend on your residence. Nonetheless, if you own some type of vehicle, names like Bob Jain will recommend that you invest in auto insurance.
"What, exactly, does auto insurance cover?" This is dependent on the specific plan you buy, but there are a few areas of interest worth covering. Collision coverage, for example, will allow you to be reimbursed if damage to your vehicle is beyond repair. Liability coverage focuses on injuries that occur within the vehicle, either to yourself or a passenger. Ask your insurance agent if you're curious about specific details.
"Is there truth in the idea that the color of my car impacts how much I pay in insurance?" This is a common auto insurance myth that, despite the information available, many people believe. Keep in mind that color is only important on a surface level. If you have to pay more in insurance, it may be because you have an older car, you're younger, or have a few driving accidents on your record. Color is a nonfactor in this regard.
"I feel like my current plan is too high. How can I lower it?" Perhaps the best, not to mention easiest, way is to improve your credit score. Insurance agents are more likely to work with those that have solid credit, as they will be more likely to pay the rates they offer. You can also lower the cost of your plan by driving safer. The fewer accidents you get into during your lifetime, the lower the cost of your insurance stands to become.
"Before I buy auto insurance, do I require it by law?" Most of the United States has mandated car insurance, meaning that, depending on where you live, you must buy some form of insurance for your vehicle. There are exceptions to the rule - New Hampshire is perhaps the most prominent - and the specific plan needed will depend on your residence. Nonetheless, if you own some type of vehicle, names like Bob Jain will recommend that you invest in auto insurance.
"What, exactly, does auto insurance cover?" This is dependent on the specific plan you buy, but there are a few areas of interest worth covering. Collision coverage, for example, will allow you to be reimbursed if damage to your vehicle is beyond repair. Liability coverage focuses on injuries that occur within the vehicle, either to yourself or a passenger. Ask your insurance agent if you're curious about specific details.
"Is there truth in the idea that the color of my car impacts how much I pay in insurance?" This is a common auto insurance myth that, despite the information available, many people believe. Keep in mind that color is only important on a surface level. If you have to pay more in insurance, it may be because you have an older car, you're younger, or have a few driving accidents on your record. Color is a nonfactor in this regard.
"I feel like my current plan is too high. How can I lower it?" Perhaps the best, not to mention easiest, way is to improve your credit score. Insurance agents are more likely to work with those that have solid credit, as they will be more likely to pay the rates they offer. You can also lower the cost of your plan by driving safer. The fewer accidents you get into during your lifetime, the lower the cost of your insurance stands to become.
About the Author:
If you'd care for more details about insurance and other finance-related topics, contact Bobby Jain.. Check here for free reprint license: Auto Insurance Questions Answered By Robert Jain.
No comments:
Post a Comment