Don’t Cheap Out With Cheap Car Insurance Rates
Whether you’re out shopping for shoes, furniture, or even food the expression “cheap is cheap” is all too real – you do get what you pay for. The same rule applies when you buy car insurance online. Since auto insurance is a must-have for every driver in Pennsylvania, gambling on auto insurance rates might not be a gamble you want to take.
Today, there are so many auto insurance providers available off and online, all tempting you to save money with cheap rates. Young drivers or those with poor credit may seek out savings but the money you save may come at a bigger price down the road.
What is “Cheap” Auto Insurance?
“Cheap” auto insurance refers to a policy with lower premiums than the average rates most insurance providers offer. While lower premiums may seem like a good deal, it’s essential to understand that “cheap” auto insurance policies often come with minimal coverage. This means that if you’re in an accident, you may not have enough coverage to pay for damages or injuries, leaving you with out-of-pocket expenses.
The goal here is to make sure you’re an informed buyer and get the right car insurance policy and don’t just go with the cheapest car insurance company you find online.
Why Shouldn’t You Buy “Cheap” Auto Insurance?
We all live in the real world and know that accidents happen. When they do you will want a car insurance company backing you up with a policy that provides for full coverage including bodily injury liability and comprehensive and collision coverage.
If you purchased the cheapest car insurance, you run the risk of not having the coverage options you need and in the worst-case scenario facing financial and legal problems.
There are several reasons why you shouldn’t buy “cheap” auto insurance:
- Minimal Coverage – As mentioned earlier, cheap auto insurance policies usually offer minimal coverage. This means that you may not be adequately protected if you’re involved in an accident. In Pennsylvania, the minimum required coverage is $15,000 for bodily injury per person, $30,000 for bodily injury per accident, and $5,000 for property damage liability. However, these minimum requirements may not be enough to cover all the expenses related to an accident.
- High Deductibles – Cheap auto insurance policies often come with high deductibles, which means that you’ll have to pay more out-of-pocket before your insurance coverage kicks in. This can be a problem if you’re involved in an accident and don’t have the money to cover the deductible.
- Unreliable Insurance Providers – Some cheap auto insurance providers may not be reliable or reputable. They may have poor customer service or may not be financially stable. This means that they may not be able to pay out claims in the event of an accident.
- Hidden Fees – Cheap auto insurance policies may have hidden fees that you may not be aware of until it’s too late. These fees may include processing fees, administrative fees, or cancellation fees. These fees can add up quickly, making your auto insurance policy not as “cheap” as it may have seemed.
What Coverage Options Should My Auto Insurance Policy Have?
In Pennsylvania, drivers are required to carry auto insurance with minimum coverage limits of:
- $15,000 for bodily injury or death of one person in an accident
- $30,000 for bodily injury or death of multiple people in an accident
- $5,000 for property damage per accident
While these are the minimum coverage limits required by law, it’s important to note that they may not provide sufficient protection in the event of a serious accident. Insurance costs are a legitimate concern but seeking the advice of a trusted insurance advisor is your best course of action.
A good car insurance policy in Pennsylvania should consider additional coverage options such as:
- Collision coverage: This covers damages to your vehicle in the event of an accident, regardless of who is at fault.
- Comprehensive coverage: This covers damages to your vehicle from non-accident-related incidents such as theft, vandalism, or natural disasters.
- Underinsured/uninsured motorist coverage: This provides coverage if you’re in an accident with a driver who either has no insurance or insufficient coverage.
- Medical payments coverage: This covers medical expenses for you and your passengers in the event of an accident, regardless of who is at fault.
It’s always a good idea to speak with an insurance agent to determine what coverage options make the most sense for your individual needs and circumstances. It’s natural to seek out the most affordable insurance policy but there’s a difference between affordable car insurance and cheap car insurance.
A trustworthy agent should be able to advise you and you should ask about the average rate versus low rates and get enough car insurance quotes to make an informed decision.
It’s also important when shopping to ask if you qualify for discounts such as those for good driving and good credit. Comparison shopping with different insurance companies is also a good idea before making your purchase from any insurance company.
What Should You Consider When Buying Auto Insurance?
When buying auto insurance in Pennsylvania, it’s essential to consider the following factors:
- Coverage – Make sure that you have enough coverage to protect yourself in the event of an accident. Consider the value of your car, your driving record, and the potential cost of injuries or damages.
- Deductibles – Consider how much you’re willing to pay out-of-pocket before your insurance coverage kicks in. A higher deductible means lower premiums, but also means you’ll have to pay more in case of an accident.
- Insurance Provider – Choose a reputable and reliable insurance provider with a good track record of promptly paying claims.
- Discounts – Consider any discounts that may be available to you, such as safe driver discounts, multi-car discounts, or bundling your auto insurance with your homeowners or renters insurance.
- Premiums – Consider the cost of your auto insurance premiums, but remember that “cheap” auto insurance may not always be the best option. Make sure that you’re getting adequate coverage for the price you’re paying.
Affordable And Comprehensive Car Insurance Should Be Your Goal
Buying “cheap” auto insurance online may seem like a good deal, but it’s important to remember that you get what you pay for. In the event of an accident, having inadequate coverage can result in significant out-of-pocket expenses.
Car accident lawyers are witnesses to what happens to people when their only goal is lower rates and not sufficient insurance. If you or a loved one has had a car accident and if there is an issue of injury or coverage, contact the Law Offices of E. William Hevenor. We are ready to help you with your case. Call us today at 610-251-9930 or contact us online for an initial consultation. Located in Paoli, Pennsylvania, we serve clients throughout the surrounding areas.