One should be aware on where they can save and where they should spend on car insurance. The first question you may ask yourself is; How much car insurance do I need? Experts recommend more auto insurance than the state's minimum requirement for the average person. You will be financially protected while it does not cost much more. There is some coverage that might be shaved from your insurance bill, like comprehensive, collision and medical payments.
Experts recommend: Bodily injury liability one hunded thousand dollars per person and three hunded per accident. Property damage liability fifty thousand dollars. Uninsured motorist, bodily injury: one hundred thousand dollars per person and three hundred thousand dollars per accident. Underinsured motorist, bodily injury: one hundred thousand dollars per person and three hundred thousand dollars per accident. Uninsured motorist, property damage: ten thousand dollars per accident, in Virginia.
Medical payments may be redundant if you have life and health insurance, (personal injury protection). Comprehensive Limit and collision limit based on car's value; may be not be necessary on old cars that are not worth much. One may feel that they are paying way too much and want to drop everything but liability or switch companies. There are other solutions. You should check your itemized bill, and see if your coverage matches your needs: Bodily injury liability. If you crash your car in West Virginia, a study declares there is a one-in-three chance somebody will say they got hurt and try to get some money from your insurance company. State law requires you to carry bodily injury liability insurance, at a minimum of twenty thousand dollars per person and forty thousand dollars per accident. Experts recommend upping that to one hundred thousand dollars per person and three hundred thousand dollars per accident. Why, because if your insurance falls short, your house and assets might be in danger.
If you have a lot of assets, experts recommend you to up your insurance even further to protect them. West Virginia requires ten thousand dollars per accident for property damage liability. Standard advice from consumer groups recommend one carries at least fifty thousand dollars per accident. It stands to reason: Property damage liability pays if you damage somebody else's property, normally their car. If the car is you crashed was worth fifty thousand when the owner purchased it, and the sticker price is currently thirty thousand dollars, your insurance should cover it. It may cost you just a few extra dollars to double your insurance coverage.
If your car is more than five years old you may want to drop your collision coverage. Collision pays to fix your car if you run into something, like a telephone pole, your neighbor's fence, another car. But it will never pay more than your car is worth. You must meet your deductible first. If you have a newer car you can still save by raising your deductible Instead if paying one hunded fifty dollars pay two hunded fifty dollars. You should weigh that savings against the extra deductible you'll have to pay if you ever make a claim. If you are planning on fixing your car yourself, out of your pocket or not fixing it at all, you should decide if it is worth the higher premium.
Comprehensive insurance fixes or replaces your car if you hit a deer, if it's stolen, dented in a hailstorm, damaged in a flood, catches on fire, and anything similar. Usually, comprehensive pays for your new windshield when a semi truck kicks a rock into your face. Usually comprehensive insurance is not needed or not worth it. Before deciding to drop it, look up your car's retail value on Kelley Blue Book, then add together your collision and comprehensive premiums. If your sum is more than 10 percent of your car's value, you might consider dropping it.
Medical payments coverage usually pays for medical bills for you and your passengers if you're hurt in an accident, even if it was your fault. Sometimes it includes "personal injury protection". It covers lost wages and other fringe costs. If you have health and life insurance, you and your family may already be covered. If you do not need medical payments, you could save about fifty dollars a year. If you often carry passengers who may not have their own health insurance, you might want to consider a small, five thousand dollar medical payments policy.
Uninsured motorist coverage protects yourself and your passengers if you are hit by an uninsured or hit-and-run driver. Experts believe if you increase the state law bodily injury requirement by ninety percent, you can save money. This usually cost fifty dollars or less a year. Some companies offer discounts or special benefits. Many insurers offer discounts for features that decrease the risk of injuries or theft. These include air bags, anti-lock brakes, daytime running lights and anti-theft devices. Some states require insurers to offer discounts for cars equipped with air bags or anti-lock brakes.
Cars that are known to be targeted by thieves cost more to insure. Many insurers will give you a discount if you buy more than one type of insurance from them. You may also get a reduction if you have more than one vehicle insured with the same company. Some insurers decrease premiums for long-time customers.
Some companies may offer discounts to motorists who drive a lower than average number of miles per year. Low mileage discounts may also apply to drivers who carpool to work. Some companies offer reductions to drivers who get insurance through a group plan from their employers, or through professional, business and alumni groups and other associations.
Ask your employer or any groups or clubs to which you belong. Companies usually offer discounts to policyholders who have not had any accidents or moving violations for a certain number of years. You may also qualify for a cut if you have recently taken a defensive driving course. You may get a break on your insurance if you are over fifty years old or in some cases fifty five years old and retired. If there is a young driver on the policy who is a good student, has taken a drivers education course or is at a college, generally at least 100 miles away, you may get a discount. When you comparison shop, inquire about discounts. Some states offer a five hunded dollar deductible or a one thousand dollar deductible. You can also get discounts for; more than one car, no accidents in three years, no moving violations in three years, drivers over fifty to fifty five years of age, driver training course, defensive driving course, anti-theft device, low annual mileage, air bag, anti-lock brakes, daytime running lights, student drivers with good grades, auto and homeowners coverage with the same company, college students away from home, long-time customer, as well as other discounts
