Do you think you're overpaying for auto insurance? If this is the case, you might wish to switch to a cheap car insurance company.
However, is cheap auto insurance worth it? In order to answer this question and facilitate your decision, we put together this article to help you out.
Read on to learn more.
Cheap Auto Insurance = Minimal Protection
You've heard the saying, "you get what you pay for." Well, this couldn't be truer when dealing with cheap car insurance.
Yes, it might save you money on a month to month basis, but it also means less coverage.
Even if you think you're an excellent driver, you can't foresee the future. You might find yourself in an accident only to find out your coverage is limited.
The decision to save a little money every month could end up costing you more in the event of an accident.
Expect Higher Deductibles
A deductible is an amount you're responsible for paying out of pocket in the event of an accident.
Think about it this way, the way a lot of cheap car insurance policies shave money of your monthly payment is by increasing your deductible.
In the event of an accident, you might find yourself with a higher than usual deductible you may or may not be able to afford to pay.
Your liabilities Will Increase
When you pay lower premiums for your insurance policy, you also receive lower coverage.
The lower coverage will increase your liabilities. If the damages and bodily injuries exceed the amount covered in your policy, you might be left with additional liabilities.
If the policy fails to cover all of the policy, you will be responsible for paying the rest out of pocket.
Poor Customer Service Support
When you pay a higher cost for car insurance, you pay for more than premiums, you also pay to the customer support you will receive.
Cheap car insurance often lacks great customer service support. With limited staff, you might be left waiting for longer periods of time to get a claim resolved.
If this is a concern of yours, you should read the online reviews of the affordable insurance company to get a feel for what the customers are saying about them.
How to Find Real Savings
If your main concern is to find cheap car insurance, you don't have to go for a cheap car insurance provider. Instead, take advantage of the many discounts insurance companies have to offer.
For example, if you own a home, you could get an extra discount for bundling the two. Some other discounts include:
- Safe driver discount
- Paid in full discount
- Multi-car discount
- Claim-free discount
- Homeowner discount
These are only a few of the discounts available for those looking for affordable insurance.
The Bottom Line
Cheap auto insurance is only worth it if you want to save money on your monthly payments and are not concerned with other unexpected expenses that might come along.
Looking for affordable auto insurance without losing the benefits, let Amistad Insurance Services help. Contact us for a quote.
- 7 Tips for Saving on Your Commercial Auto Insurance
- Understanding Deductible Car Insurance
- Why is My Insurance So High? How To Cut Costs
- How to Get the Best Small Business Insurance for Cheap
- Car Insurance Charlotte, NC: 10 Ways to Find the Best Quote
- Why You Need Motorcycle Insurance
- Auto Insurance Question of the Day: Do You Need Insurance to Buy a Car?
- Finding Affordable Insurance in North Carolina
- Drive Safe, North Carolina! Here's How to Find the Best Car Insurance in NC!
- My Child Moved Out! 5 Things To Consider To Avoid Car Insurance Fraud