One of the soundest investments that one can make - and Robert Jain and others in finance will agree - is auto insurance. Most people use cars, vans, and other such vehicles to get around, and while they are usually careful when behind the wheel, the margin for error always exists. Before you put the money down for this type of insurance, it's important to know what you're investing in. Here are the most important auto insurance questions to ask.
"Do I require auto insurance by law?" For the most part, in the United States, auto insurance is required. If you live in a state that follows this law, such as Connecticut, Florida or Iowa, you will have to buy a minimum plan at the very least. Other states, including Virginia and New Hampshire, don't enforce the same rule. It's important to do research based on where you live, as this will help you determine if this is an investment to be made. This is just a small amount of information that names along the lines of Bob Jain can provide.
"What will cover me with an auto insurance plan?" If you end up buying auto insurance, your plan will cover multiple areas. Keep in mind that specific coverage varies between plans, which is why speaking to your agent is recommended in this regard. Collision coverage is among the most important factors, as it will allow you to cover your vehicle in case irreparable damages are made. This is just one of the reasons why auto insurance coverage is important.
"Is it true that the color of my car influences my insurance premium?" When it comes to the misconceptions regarding auto insurance, this is among the strangest. It's also one that many people believe, which is why it's important to note that color plays no part in how much your insurance premium is. The model of your car, your age, and the number of accidents on your driving record are more influential. Color is a personal preference, not an auto insurance variable.
"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.
"Do I require auto insurance by law?" For the most part, in the United States, auto insurance is required. If you live in a state that follows this law, such as Connecticut, Florida or Iowa, you will have to buy a minimum plan at the very least. Other states, including Virginia and New Hampshire, don't enforce the same rule. It's important to do research based on where you live, as this will help you determine if this is an investment to be made. This is just a small amount of information that names along the lines of Bob Jain can provide.
"What will cover me with an auto insurance plan?" If you end up buying auto insurance, your plan will cover multiple areas. Keep in mind that specific coverage varies between plans, which is why speaking to your agent is recommended in this regard. Collision coverage is among the most important factors, as it will allow you to cover your vehicle in case irreparable damages are made. This is just one of the reasons why auto insurance coverage is important.
"Is it true that the color of my car influences my insurance premium?" When it comes to the misconceptions regarding auto insurance, this is among the strangest. It's also one that many people believe, which is why it's important to note that color plays no part in how much your insurance premium is. The model of your car, your age, and the number of accidents on your driving record are more influential. Color is a personal preference, not an auto insurance variable.
"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 care for more details regarding insurance and other finance-related subjects, contact Bobby Jain.
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