Auto Insurance Tips

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What you should know about your auto insurance that can really save you a ton of money and a lot of frustration.

When should you make a claim on your auto insurance policy? What should you pay for out of your pocket and not file a claim for?

Do you know what your deductible is? A deductible is the amount of money YOU will be required to pay if YOUR insurance company pays the claim. You pay that amount of the actual repair cost first before your insurance pays the difference.

Having a $1,000 deductible and filing a claim on your policy for $1,800 you will pay $1000 and the insurance company will pay $800. I would NOT file a claim for this if at all possible. The risk to an increase in your premiums is too high for me and I would just pay the $1,800 myself and not report it to my insurance company if I could.

Having a $1,000 deductible rather than $500 might save you $150-200 a year, and if you are a safe driver with no claims in the past 7 years or so you would save quite a bit over those 7 years. I would put the savings into an “emergency fund” which gains interest and use that money in the case of a claim. If no claims, you have a nice little nest egg to spend on something else.

The purpose of the deductible is to keep you from claiming all little claims/accidents etc. that happen during normal life. Having a $1000 deductible will definitely keep you from doing that, right?

Now, if the accident was not your fault and the other insurance company is paying the claim you pay nothing, your deductible is only for your at fault claims for repairing your vehicle.

Want to see if you are getting a good deal on your car insurance premiums?

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pigjubby1 says:

The difference between a 25/50 and a 250/500 policy is unreal. Ask. It may
be just about 200-300 dollars a year more. In the end you will regret not
knowing that. The hardest part of all of this is, the agent will never tell
you that. You have to ask for it. The agent does not volunteer it. They are
agents of the insurance company first. Especially companies like AAA. They
are your protector and the same ones who will loss money? You have to be on
drugs to believe that. Good luck!

pigjubby1 says:

How do I know? I lost everything with the 25/50 AAA sold me. I was as
ignorant as almost 99% of all policy holders. I learned a lot now, but it
was too late. I lost everything in the wreck I caused. Were his injuries
more than I had in coverage? It does not matter. Juries award tens of
thousands. Don’t be cheap to save two hundred dollars, especially if you
own a home or have a good career.

lowmileageinsurance says:

Do you have all of your car insurance needs covered? If you still are
uncertain, why not compare car insurance policies to ensure you find a
suitable policy you and your car? Let us do the hard work for you.

pigjubby1 says:

Do not insure yourself on what you have. Insure yourself on what the other
guy has. if you own a home and you paralyze someone’s son in a crash and
you have 100K coverage? Guess what? You just lost your home. Forget
worrying abut pennies. Ask about what 100K, 200K and 500K cost. It will
blow your mind. Just a couple of hundred more than your premium you already

Serz says:


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