Is Cheaper Auto Insurance Worth It?

Jul 06, 2017

Auto Ins

Is Cheaper Auto Insurance Worth It?

You may consider sacrificing car coverage to save a few pennies every month. This can be a costly mistake to make.

There’s no doubt that motorists are always looking to find affordable car insurance. As auto coverage is a must, people do what they can to cut down on their monthly outgoing. From exploring discounts to cutting down on valuable coverage, many motorists favor their wallet before protection. It’s important to note that there’s a big difference between cheap car insurance and car insurance that’s the best value for a given person.

State Minimums

Every state will require all motorists to carry a minimum amount of car insurance. That’s because no matter how safe you drive, there’s always the possibility that you will be involved in or cause an accident that could damage someone’s property or injure people. Auto insurance is there to ensure that every driver can cover costs that they may incur on other people. It’s important to bear in mind that even though getting the minimum requirements is legal, it may not be the best coverage to suit you!

Missing Coverage

A cheap auto insurance policy that only meets the minimum liability can cause problems. You may end up with:
  • Insufficient or limited liability coverage
  • Higher out of pocket costs
  • Inadequate customer service and claims support
Cheap car insurance often does not cover damages to your property that result in an accident that you cause or that an uninsured driver causes to you. This coverage is typically called ‘liability-only,’ meaning that your protection is incredibly limited. For example, you may rear end a Bugatti Veyron, a $1 million car, where the damages you cause will almost certainly exceed the minimum liability coverage that your state requires you to carry. That means that cheap car insurance leaves you on the hook for the difference – and that could mean a whole lot of money. Cheap car coverage is usually not worth saving the few extra pennies every month. You may end up paying more in the long run if the coverage is deemed insufficient to cover your losses in the event of an accident. For all of your car coverage needs to keep all of your vehicles protected, contact C.V. Mason Insurance Agency in Bristol, Connecticut. We will work with you to ensure you have the right amount of auto insurance coverage, all at the right price to fit your budget.