Auto Coverage Questions to Ask!
Coverage Limits: Do you understand the maximum amount your policy will pay for damages or injuries?
Uninsured Motorist Coverage: Are you protected if you're in an accident with someone who doesn't have insurance?
Rental Car Coverage: Will your policy cover a rental car if yours is in the shop after an accident?
Personal Injury Protection (PIP): Do you have coverage for medical expenses and lost wages regardless of fault?
Gap Insurance: If your car is totaled, will your insurance pay off your loan or lease balance if it's higher than the car's value?
FAQS
What is the difference between term life insurance and permanent life insurance?
Term life insurance provides coverage for a specified term, typically 10, 20, or 30 years. It offers a death benefit to your beneficiaries if you pass away during the term, but it doesn't accumulate cash value. Whole life insurance, on the other hand, provides lifelong coverage and includes a savings component that builds cash value over time. While term insurance is usually more affordable, whole life insurance can serve as both protection and a long-term investment.
How can I lower my car insurance premiums?
There are several ways to lower your car insurance premiums:
Choose a higher deductible: Increasing your deductible can reduce your premium, but be sure you can afford the higher out-of-pocket expense if you need to make a claim.
Maintain a safe driving record: Safe driving can earn you discounts and prevent premium increases due to accidents or traffic violations.
Bundle policies: Many insurance companies offer discounts when you bundle your auto insurance with other policies like home or renters insurance.
Install safety features: Equipping your vehicle with safety features like anti-theft systems or anti-lock brakes can result in lower premiums.
Shop around: Compare quotes from multiple insurance providers to find the best rates for your needs.