No matter how safe of a driver you are, it's important to account for accidents that occur when you're behind the wheel. This is where auto insurance comes into the picture, as it will provide coverage for a number of situations that you would have had to pay considerable amounts for otherwise. You may know that auto insurance is important, but not some of the deeper details. Here are a few questions about said insurance that Robert Jain can answer.
"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.
"If I need auto insurance, what will be covered?" Despite the different coverage types that auto insurance entails, there are a few commonalities to be noted. Liability, for example, will help cover the costs for those that have been injured in accidents. Collision focuses on vehicle damage that can't be repaired. The more money that you spend on a plan, the better your coverage will be, so keep this in mind when looking into specific plans.
"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.
"If I need auto insurance, what will be covered?" Despite the different coverage types that auto insurance entails, there are a few commonalities to be noted. Liability, for example, will help cover the costs for those that have been injured in accidents. Collision focuses on vehicle damage that can't be repaired. The more money that you spend on a plan, the better your coverage will be, so keep this in mind when looking into specific plans.
"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 like additional information about insurance and other finance-related topics, consult Bobby Jain.. Unique version for reprint here: Robert Jain: The Most Important Auto Insurance Questions To Ask.
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