3 Counter-Intuitive Ways to Save on Auto Insurance | How To Insurance 063
Hi, I’m Peter!
Welcome to HOW TO INSURANCE
Helping YOU understand insurance,
building CONFIDENCE for your future!
Sometimes the best way to save on Auto Insurance…
is “counter-intuitive”.
Sometimes the best way to get the best rates and the better coverage…
Is NOT what is advertised on TV!
(spoiler alert… TV commercials generally are not the bearers of ultimate life wisdom!)
The question we’re about:
3 Counter-Intuitive Ways to Save on Auto Insurance
“Traditional” wisdom about auto insurance actually steers you the wrong way.
It’s super easy to fall for these traps and end up paying MORE for your insurance and actually getting LESS.
No one wants to pay more and get less.
Here is how you avoid the traps and start on the journey of wise, low cost, and high benefit car insurance!
#1 Don’t Shop for Insurance Online
The TV commercials we watch about auto insurance are funny! Sometimes hilarious! I love them… except they steer you in the wrong direction!
If you have 15-minutes, you should NOT spend them shopping for car insurance on your couch using a mobile app.
What will happen is that you’ll end up signing up for something that leaves you dangerously underinsured and doesn’t actually do what you want it to do.
Ask yourself:
If you are in a car accident - do you want to pay the other person’s medical bills?
OR do you want your insurance to pay the bills?
If you want insurance to make you financially “bulletproof” so you never have to file bankruptcy and lose all your assets… Then you better understand what kind of insurance limits you have!
Online websites and mobile apps will grab your attention with quick and easy low prices… and leave you out to dry when you actually need your insurance!
The Solution - work with an independent broker who can ADVISE you and give you all the options. You want to make an informed decision!
Spend your 15 minutes on a phone call, asking questions… skip the online insurance traps.
#2 Raise liability limits
Watch out for this trap!
When you sign up with low liability limits of 15/30/5… insurance companies look at you as “dangerous and unwise” and will actually charge you MORE next time you try to switch companies or increase limits.
It’s a cycle of low limits and high prices that can take a year or more to get out of!
You should NEVER have “state minimum” liability limits of 15/30.
This means that your insurance will only cover up to $15,000 in medical bills or lawsuits.
If someone is injured in a car crash and you’re at fault - guaranteed the hospital bill will be more than $15,000 and you will be held responsible to pay the bills!
(trust me - I specialized in health insurance)
You want to have liability limits of either:
100/300 (i.e $100,000/$300,000)
250/500 (i.e $250,000/$500,000)
Next, you want to have property damage liability of at least:
$50,000
$100,000
or $250,000
There are some expensive cars out there and you want to cover any damages you may have.
So if you have low limits now… get out while you can!
The Solution - Raise your liability limits up to even the next level to start creating a better insurance history in your storyline.
#3 raise deductibles
If you want lower rates on your auto insurance - the quickest and easiest way is to raise your deductibles!
A deductible is how much you have to pay before the insurance covers the rest.
Comprehensive deductibles cover damage to your car when you're not driving.
Collision deductibles cover damage and liability to your car when you are driving.
I’ve noticed that some of the big-name, TV advertising company agents like to set really low deductibles.
This might look good - but it raises your rates!
How often do you plan on making an insurance claim anyway?
Claims should be rarely made and used only for real high cost stuff.
So deductibles like $100 or ever $250 are lower than you need and it raises your rates.
The Solution - I always recommend deductibles of:
$500 for comprehensive
and
$1,000 for collision.
This will keep your rates low!
And if you have a really good insurance history… you can add on features like a “diminishing deductible” for safe driving.
Bottom Line:
The best way to save money on your auto insurance is counter-intuitive!
You need to work with a trusted broker, raise your liability limits and raise your deductibles.
Next Steps:
Contact your Agent/Broker and schedule a 15-minute phone call to discuss your coverages.
Raise your Liability Limits and Raise your Deductibles today!
Save money indefinitely!
At Apple Insurance Solutions,
We all want to protect what matters most to us in life,
but finding the right insurance can be complicated.
So I make it simple.
As Your Insurance Broker,
I advise and connect you to insurance solutions,
saving you time and
building confidence for your future.
If this was helpful to you, please:
“Like and Share” this post
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Contact me at peter@appleinsurancesolutions.com
Also, keep in mind, that as Your Insurance Broker,
I offer insurance for auto, home, life, health, medicare, umbrella, and business… when you work with me, all your insurance needs... are in one relationship.
Thank you for reading HOW TO INSURANCE
Helping YOU understand insurance,
building CONFIDENCE for your future!
PETER D JOHNSEN
Your Insurance Broker | Apple Insurance Solutions
818.620.8171 CA 360.818.4865 OR/WA
peter@appleinsurancesolutions.com
Auto | Home | Life | Health | Medicare | Umbrella
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