The more money the driver is willing to lay down when an accident happens, the cheaper their monthly bill becomes.
Seattle, WA (PRWEB) February 23, 2013
Getting insurance can be an amazingly complex ordeal. Turns out, there are dozens of factors in computing a driver’s rates; however, the bulk of driver’s bill comes from two things- coverage, and deductibles. We’ll go over the many nuances of what coverage and deductibles are below, as well as the key advice Rate Digest gives to help get the cheapest car insurance.
First off is coverage. This can be summed up as a question: how much is the driver covered in the event of an accident? It actually depends on the type and amount of coverage.
For instance, almost everyone has liability insurance, which covers the driver for any damages to other cars and drivers in the event of an in-fault accident. The minimum coverage required, however, depends on the state. Moreover, most drivers are covered for more than the minimum cost, as the state required minimum may not be enough in the event of a major accident.
Rate Digest advises that, to get the cheapest car insurance, drivers take a good look at the coverage they get. They may find things that are redundant, or downright unnecessary.
Most credit card companies, as an example, give out free roadside assistance for “gold” or higher card holders. There isn’t a point in getting additional coverage if the driver already has it.
The other major factor comes from the deductible, or the amount of money drivers will have to pay out of pocket before coverage begins to take effect. This is usually between two hundred fifty and one thousand dollars. The reasoning behind this is simple: the more a driver desires the cheapest car insurance, the more they will pay out of pocket when a crash happens.
The more the driver is willing to lay down when an accident happens, the cheaper their monthly bill becomes.
Rate Digest suggests that, in order to get the cheapest car insurance they can, drivers should find out exactly what they are willing to pay in the event of a crash. It may be that, due to the value of the car in the first place, buying things like collision insurance may not be worth the expense.
About Rate Digest
Rate Digest offers a free insurance comparison tool that lets consumers find great insurance from big name providers at an affordable rate. http://ratedigest.com/