"Car leasing companies often require as much as 10x more auto insurance coverage than minimum state requirements - Any wise consumer should protect themselves like the big companies do"
Fort Lauderdale, FL (PRWEB) July 26, 2010
CarInsuranceCompanies.com, an online car insurance guide, advises consumers that state minimum car insurance requirements are often far lower than required to provide adequate financial protection.
"There are many significant advantages of having states regulate car insurance companies and set minimum auto insurance requirements" said Michael Grasso, Vice President of Operations for CarInsuranceCompanies.com "However, most states set minimums so low that practically every car leasing company requires additional coverage beyond state minimums - often up to 10 times the amount of coverage before allowing you to drive home. If leasing companies require such additional coverage (since they hold the title of the car while a consumer is leasing) is this not a prime warning to consumers that state minimums are far less then they should be.”
While shopping for car insurance is a mundane topic compared to searching for deals on the newest shoes the fact is auto insurance premiums account for nearly 5% of many consumers income. Saving money is never boring and both young drivers and existing drivers should really take the time to understand more about car insurance coverage in order to have financial security in the case of an accident.
How can you increase your car insurance coverage?
- Contact your local agent and ask how much coverage you have. You may be surprised to see the maximum coverage your policy has is often less than $25,000 for medical expenses
- Contact several car insurance companies and compare auto insurance rates and maximum coverage limits. Any quote for cheap car insurance may be based on simply the state minimum requirements however even another $100,000 in coverage is only a small premium increase in most cases.
- Understand car insurance. It is critical that you educate yourself about auto insurance coverage as only then you can find the best policy for you and your family.
CarInsuranceCompanies.com offers a comprehensive guide to auto insurance including a drivers education course to help both young drivers and experienced drivers learn more about such common terms as personal injury protection(PIP) and comprehensive collision coverage while also explaining the vast number of car insurance discounts available. Drivers interested in learning more about state minimum car insurance requirements should contact their current car insurance company or visit http://www.carinsurancecompanies.com for more information.
CarInsuranceCompanies.com is an online guide to auto insurance coverage with a nationwide database of insurance providers who offer free online quotes.
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