A new policy with an insurance provider is something that we’ve all experienced. Changing insurance companies—on auto insurance, homeowners insurance, and many other coverage needs—is a routine process that we often go through every few years. This is done because life can get complicated in a hurry, and rising premiums drive customers in a cyclical pattern from one insurer to another and back around again in an effort to lock in the best deal.
One aspect of the insurance game is in the selection of the exact insurance coverage that you really need for your home, car, or healthcare. Selecting a new policy that doesn’t cover it all can wind up costing you a lot out of pocket, while too much coverage will raise the bill over the long run while you remain in two minds about playing “catch up” in order to utilize all the insurance benefits that you’ve already paid for.
When it comes to auto insurance, the calculation becomes a little more straightforward, with a few key features playing an outsized role in the decision to choose one coverage option over another.
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Your driving history has a lot to do with your car insurance quote.
Insurance companies cover millions of U.S. drivers every year (more than 200 million today). While insurance is mandatory for those hoping to get out on the road, coverage options available and the pricing structure offered can both range wildly depending on the driving record that you sport. Those who’ve been in a number of wrecks or have accrued a few too many speeding tickets will find comprehensive coverage to bear a hefty price tag.
The key here is in volume and distribution. The average U.S. driver will experience a car accident around once every 18 years. While luck and the driving conditions in your local area can raise or lower this figure on a case-by-case basis, the vast majority of Americans will fit within this model to a high degree of accuracy.
Those who’ve been in more than one accident while being deemed at fault will have a harder time finding cheap insurance quotes, while others who’ve never been in an accident fall victim to the same statistical analysis.
Think about your particular car’s make, model, and age.
However, comprehensive insurance is best deployed by those driving new or expensive models. Third-party or collision insurance is typically the bare minimum—depending on your local state requirements—and yet these coverage options work for many who are driving cars with a long lifespan on the road or a quickly depreciating value.
Cars are primarily a resource for getting from one place to another, and millions of Americans don’t invest much time or energy in creating a luxurious ride out of simple necessity. For those with poor driving records or a car that won’t require extensive coverage, the available options become more interesting. These new policy choices, such as those from Infinity Insurance, offer drivers with a low cost option to keep them on the road while providing the necessity and a great price tag to boot.
The truth is that most of us don’t need total car insurance coverage, and the additional expense is simply a waste. While accidents can happen at any time, adhering to similar actuarial standards that make the insurance industry turn can provide an excellent backdrop for your choice the next time you need to sign up for a new policy with a car insurance provider.
Consider all your options and the prices associated with the coverage in order to find the best deal on your next policy.
