A Guide to Buying Car Insurance in 2022
Whether you are a first-time buyer or a seasoned automobile owner, shopping for car insurance has never been easier. Nsure wants you to be completely prepared before you begin your comparison shopping for the auto insurance that will best meet your needs. This easy-to-follow guideline will make your car insurance shopping experience a breeze!
Have these basics on hand
Before you start shopping, there are a few pieces of information you will need. Make sure you have all of the following gathered so you’ll be prepared to shop for auto insurance quotes:
- Familiarize yourself with any of your state’s requirements for car insurance policies. Coverage varies from state to state.
- Have your driver’s license number, and the license numbers for any other driver who will be using the vehicle regularly.
- Your home address, including zip code.
- Be ready to provide your social security number and those for any driver who will be covered by the policy.
- Make sure to have the car’s make, model, year, and the current odometer reading for all cars you are looking to insure. If insuring multiple cars, this information is required for each vehicle.
- Have your lease, loan or title available for each vehicle.
- Know what insurance requirements are needed by the lender or lease holder.
- Have an estimate of how many miles you drive each year per vehicle. How many miles your drive to work may be a separate requirement.
- Determine your budgeted amount for monthly premiums and the potential impact deductibles may have on your savings account.
Components of a car insurance policy
The next thing you need to know before you start shopping is what kind of coverage you need and what you can live without. The different types of coverage may sound like insurance jargon if you’re not familiar with them ahead of time. Here’s each component of an auto insurance policy defined:
This type of insurance covers damage to your car caused by anything other than an accident. Fire, flood, hail, vandalism, or falling objects can be covered by comprehensive insurance. Deductibles range from $100 to $1,000 as a rule.
Collision insurance protects you in the event of a car accident regardless of who’s at fault. Collision Insurance typically requires a deductible amount ranging from $100 to $1,000.
Personal Injury Protection (PIP)
If you or your passengers are injured in an accident, PIP is the part of your auto insurance policy that will help to cover the resulting medical bills. PIP requires a deductible amount that can vary from $100 to $2,500 on average. PIP is required in some states, so be sure to know your state’s requirements. You may still purchase PIP or a form of medical gap insurance, regardless of whether your state requires it.
Uninsured Motorist Property Damage Protection
If your automobile or other property is damaged by an uninsured motorist, this coverage will help to repay your loss on an approved claim. This protection does require a deductible that ranges from $100 – $2,000.
Uninsured Motorist Bodily Injury Coverage
This coverage exists to assist you with your medical costs, and those of your passengers if you’re injured in an accident with an uninsured motorist, or one who doesn’t have enough coverage to pay the medical bills. There’s no deductible for this insurance coverage.
This coverage is helpful for people who owe a vehicle loan as it’s designed to cover the difference between the loan amount and value of the car if it’s badly damaged or even totaled in an accident.
Review the impact deductibles will have on your premiums and your budget. Have an idea of what coverage you are required to have and what you would like to include on your policy and visit Nsure. You will be able to compare policies from 50 of the most reputable insurance carriers all in one place. Make sure with Nsure!