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Hello Insurance. Goodbye Risk.


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Hello Insurance. Goodbye Risk.

When it comes down to it, all insurance really serves a single purpose. It reduces your risk. Perhaps you cannot afford to risk having to pay $100,000 if someone is badly injured on your property. You'd buy homeowners insurance to protect you from that risk. Maybe you don't want to have to shell out $20,000 for a new car if someone drives into the side of yours in a parking lot. You'd buy comprehensive car insurance to cover that risk. More insurance equals less risk. But how much risk do you need to protect against, and how much insurance is enough? Only you can answer that question, and you should have a better idea of your answer after reading the articles on this website.

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2 Mistakes To Avoid When Buying Auto Insurance

When it comes to purchasing necessary auto insurance, there are a few mistakes you want to avoid during the shopping process. To start with, don't assume you can't afford insurance, because not having insurance could cost you much more. Second, be sure to really compare what is being offered to you when you shop around for insurance. 

Mistake #1: Assuming You Can't Afford Insurance

One of the biggest mistakes people make is assuming that they can't afford to pay for auto insurance. In most states, you are required to carry basic insurance. The truth is that the cost of insurance can vary widely from one company to the next and can vary widely based on the level of coverage you choose.

Driving without insurance puts you at risk of getting a ticket. Driving without insurance also puts you at risk of being sued if you get into an accident and injure someone, and it takes away all protection you have of getting money back should your vehicle be damaged. Driving without insurance can be very expensive, so be sure to shop around and find some insurance you can afford.

Mistake #2: Only Looking at Price

When you shop around for insurance, don't just look at what the premium is that you will be charged. Although the premium amount is important, it is not the only thing you should be looking at.

When you compare insurance offerings, be sure you are comparing what is being offered, not just the price. What type of coverage are they offering? Do you just get comprehensive insurance, or do you get collision insurance as well? Does the quote include important add-ons, like gap insurance, roadside assistance, or rental car insurance? How much is the deductible for the insurance?

What may look like a great rate may not be the deal you think it is if you are getting less coverage or are being asked to pay a deductible in the event of an accident that you couldn't afford. Your deductible needs to be something you can afford if you get into an accident.

Make sure you look beyond the price and look at what is really being offered to you.

When it comes to shopping for insurance, don't assume you can't afford insurance. When you shop around for insurance coverage, be sure to look at what type of coverage you are being offered. It is important to carry car insurance if you plan on driving your vehicle.

Talk to a company like Nelson Insurance Agency to learn more.