subject: Searching For The Right Deal On Auto Insurance Policies [print this page] Insurance is both required sometimes and often mandatory by law. If you own a car, you must have at least a legal minimum of insurance. If you have a mortgage on your house then you would need to maintain a certain amount of insurance even though the house is technically owned by the mortgage provider. If the automobile you have is being paid for by finance then the finance company may set a certain level of insurance, otherwise the legal minimum is necessary. You should be sure you search for and take out the right level of auto insurance for your own circumstances.
With auto insurance, the minimum part of the insurance by law is to cover third party claims, where another car, person or property is involved and you are held responsible. Third party only insurance is the cheapest type of auto insurance but it does not cover you or your car, only claims by third parties against you. If on the other hand the accident is caused by someone else, then any damage to your vehicle or to you should be covered by their insurance policy. If you crash your car into say a wall though, then you will be liable to pay for the damage yourself.
If you really want to get the cheapest insurance available there are a few things you need to think about. How old your auto is? In the event of an accident would it be financially viable to fix it? Possibly a vehicle under say $2000 may not be worthwhile saving. It is possible to find auto insurance policies that would pay the full market price of the vehicle or even the actual replacement cost of it. A car is usually classed as a right off by the insurance company if it will cost more to repair it than it is worth. These days $2000 does not cover a lot of repairs especially with many cars having expensive plastic panels and paint jobs.
A more expensive auto would probably need to have better auto insurance cover. You would not want to have an accident and then discover you had no automobile until you could afford the repairs. Often with better auto insurance cover your expenses and even a hire car can be covered. So you really should talk about the auto insurance cover with your family or whoever else is going to be involved with it and decide what level of cover you require.
You should of course always get as many quotations as possible when looking for auto insurance. Insurance companies will want your business as they will hope you stay with them for many years so be sure to try and get a good rate. There are many factors they will take into account such as driver ages, experience, location, number of miles to be driven, and previous driving record. It is still possible to get a better deal by checking enough companies though.
by: Dave Smith...
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