Insurance is actually a very simple thing. You pay an insurance company, and they guarantee that if your car is damaged or destroyed, they will pay to return it to its original condition or replace it. The same thing applies in case you get injured. The insurance company guarantees that you will get the treatment that will help you recover to your original state of health.
The reason why insurance is essential is so that you don’t have to pay huge expenses yourself to repair or replace your car or pay for your medical bills in case you’re hurt in an accident.
But once you move beyond the concept of insurance, things start getting complicated. For example, assessing the fair market value of your car or the state of your health and well-being can be complicated. How much insurance to get to cover yourself and your property is also subjective.
Then comes the issue of cost. On average car insurance in the United States costs about $1502 per year. That’s a little more than $125.16 every month. But the premium for your car insurance depends on a number of factors that include your age, the type of car, your accident history, credit score, where you live, how much you drive, how safe your car is, where you park it, your education levels, club memberships, and more.
A good way to figure out which insurance company to choose is to ask around. Speak to local doctors, body shops, and personal injury lawyers and ask for the recommendations. Small businesses usually have first-hand experience with good and bad insurers, and they won’t mind sharing their recommendations. If you’re speaking to body shops or doctors, these are the questions you should ask.
- Are you a preferred provider, or do you have a contract with any insurance company? If they say yes, they may not be able to offer impartial advice to you. If they say no, continue asking the following questions.
- Which insurance companies do you recommend?
- Which are the cheapest and which are the most expensive?
- Which insurers offer the best customer service?
- Which insurance companies should be avoided?
Speak to three or four from each business category to get a fair assessment.