“Cheap” Car Insurance May Cost More Than You Realize
No one wants to pay more money than they need to for anything, including their Massachusetts auto insurance. While it may be tempting to go with the companies that are offering the cheapest rates or to reduce the amount of coverage that you have down to the bare minimum to save a few dollars, you might end up spending more in the long run.
Before you reduce your coverage or switch to a “cheap” insurer, take a look at what it could cost you.
Not Enough Coverage
When you eliminate comprehensive and collision coverage and stick with liability only, you’ll be the one paying for an accident. Even if you’re a safe driver and don’t think you’ll ever cause an accident, you may be no match for icy roads or the dog that runs out in front of your car. If you don’t have enough coverage, once your insurance policy pays up to your policy limits, you’re responsible for the remaining amount. Saving a few dollars a month won’t compare to the thousands you may have to pay for an accident.
Costly Deductibles
When choosing your deductible, make sure you choose an amount that you can comfortably pay if you’re in an accident. Switching to a higher deductible is an easy way to save on your insurance premiums, until you’re in an accident. You’ll need to make sure you always have your deductible amount stashed away in savings, or you may have to drive around with major damage to your vehicle until you can afford to pay that deductible.
None of the Extras
Switch from full coverage to liability only, and you’ll have to make do without the extras. Rental reimbursement, towing, and roadside assistance aren’t available with most liability only policies. On top of the direct costs of the accident – medical costs, repairs, etc. – you’ll also have to pay out of pocket to have your car towed and pay the full amount for a rental car while your vehicle is being repaired.
Claims Processing Headaches
Many of the “cheap” insurance companies are able to offer lower premiums because they’ve reduced their overall support staff. Often you’ll find that these companies provide sub-par customer service, which can be a big hassle if you’re ever in an accident. You’ll be the one talking with the other insurance company, sending in the information they require, and fighting your way through the claims process.
Finding a Better Way to Save
Saving on your auto insurance costs isn’t impossible; you just need a little help. Working with our agency gives you an advantage. Our agents are willing to take the time to get to know you, in order to find the right coverage for you. We’ll even help you find discounts that you didn’t know about and we’ll educate you on all of the various coverage options available to you.
In the end, you’ll have an auto insurance policy that works when you need it most, at a price that won’t break the bank.
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