Adulting 101 - Navigating The Car Insurance Process
Ok, guys, seriously... it's time to GROW UP!
Yeah, that was super dramatic, BUT there will come a time when you need to start "adulting." For some, the 'grown-up' gig may start earlier in life. We all have that one friend who starts budgeting and saving in high school and already has their sh*t together, and I'm over here shopping for thongs at Mandees because THAT WAS COOL IN 2006!
Part of getting older means having to start paying your own bills. It also means purchasing your own car insurance plan. It sounds so simple, but it can be a bit daunting if you're unsure of where to turn.
Well, as your older, sexy, hot mentor, (just let me be....), I have partnered with Reviews.com and let me tell you, they have been SUPER informative when explaining the whole car insurance commodity.
I'm going to stop blabbing now, and let them take it away!
It’s no secret that auto insurance is a complex topic that requires a certain amount of understanding of the industry when choosing a plan. Many of us will navigate our options a few times in our life, including when we move off our parent’s plan and onto our own. As it turns out, there’s more to choosing a plan than just finding the cheapest coverage, and there are a few ways to shop auto insurance like a boss.
Money may be tight, but the best plan isn’t always the cheapest.
Nobody plans to get in an accident, and we all try our best to drive as cautiously as possible (most of the time). Studies show that the average driver will be involved in an accident every 18 years, so many drivers will need their coverage about 3 times throughout their life. And while that may not seem like a lot, the expense really adds up if your insurance provider has a user-unfriendly claims process or confusing policies.
The claims process should be (relatively) painless.
The most important feature of auto insurance is the ease at which you can use it when something happens. Insurers who win at the claims game have efficient, friendly service and don’t fight with clients over small claims. Global marketing firms like J.D. Power and Associates are great resources for more information about customer service and claims. Firms like these conduct large-scale surveys to evaluate the claims process, reporting metrics as easily understood scores.
With that said, your claim frequency is directly correlated to your risk level in the eyes of an insurer. To maintain a low premium, consider handling smaller damages on your own. Consider setting the intention to be a better driver as well to keep costs low. Do you text while driving? In the long run, this may end up costing you in auto insurance premiums if you need to make a related claim.
Coverage is key.
It’s easy to assume that all auto insurers offer more or less the same coverage options. As it turns out, there are a lot of optional features that come into play in the aftermath of an accident. Make sure your policy includes the following:
New Car Replacement, which gives you enough money for a new car
GAP Insurance, which covers the difference between how much your wrecked vehicle is worth and the amount you still owe on your loan
Uninsured Motorist Coverage, which protects you if you’re hit by a driver who doesn’t have liability coverage
Discounts for both good driving and safe vehicle features
Play the Field
Even if you’re happy with your current provider, you should shop around for a new policy approximately every two years. The insurance business is kind of like a game: insurers use your personal information to choose premiums that they think customers are comfortable paying. By applying for a new policy on a regular basis, you show insurers that they need to impress you to keep you at a lower rate.
Ask for Discounts! The customer-retention game is competitive among auto insurance companies, and they’ll do what they can to keep you around. It never hurts to advocate for yourself as a long-time, low-risk customer. And hey — you never know until you ask! Keep in mind that certain life events may also qualify you for a price break, so if you lose a job or pay off a vehicle, it’s worth a call.
To take a look at auto insurers who scored the highest across these criteria, you can take a look at Reviews.com’s article here: https://www.reviews.com/auto-insurance/