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Affordable Or Cheap Car Insurance

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Affordable Or Cheap Car Insurance

Affordable or cheap car insurance, this can be seen as two different concepts. Cheap auto insurance is the premium that fits the purchaser's budget. It may not be the right policy that meets the insured needs, but does meet state laws. The auto's that are covered by this cheap policy may actually need a better policy or a policy that has more coverage then the cheap policy provides. This cheaper car insurance may leave the policyholder in a bad financial position if involved in an accident. The bargain policy is a policy that covers the automobile and the owner's personal financial position. This policy protects the policyholder and the vehicle with an inexpensive price that fits with in the policyholder's budget. An example of a cheap policy is a policy that has only liability coverage on a two-year-old car. The value of the car could be eight or nine thousand dollars, if this auto is totaled by an at fault accident then the owner get no benefits with this cheap policy. If the other driver is at fault then his insurance will cover the cost of the damage to the policyholder's auto.

Most liability only policies meet state laws* and are under $100 a month through most insurance companies. The use of a liability only policy is proper when the auto has no value or the owner has the funds on hand to replace the car in a very short period of time. Another fault of the cheapest policies is that if the accident is not the policyholder's fault and the person who's at fault does not have insurance or enough coverage then the policy owner is out the cost of damages. An example of an affordable auto insurance is a policy that covers the cost of the auto if totaled by an at fault accident. The policy should cover the uninsured and the underinsured driver if the accident was not the policyholders' fault. The policy should also have comprehensive coverage so if the car should be damage by a storm, falling objects or any damaged caused by something other than other cars.

The deductibles on affordable auto insurance are determined by the value of the car. If the car is valued for example over five thousand then the deductible can be higher, like five hundred dollars or one thousand dollars. If the value is lower such as one thousand to maybe two thousand then a lower deductible such as one hundred or two hundred dollar deductible is called for. The higher the deductible the more affordable is the auto insurance, but it is not reasonable to have a thousand dollar deductible on a car that is only worth twenty-three hundred dollars. This valued auto may have a more reasonable deductible of one hundred dollars. The deductible should also be in line with what the owner can easily pay out of pocket in a short time to repair the car. It would be unreasonable for a policyholder to have a thousand dollar deductible if when an at fault accident happens they could not come up with thousand dollars to repair the car. A five hundred or a two hundred and fifty dollar deductible maybe more affordable.

The Internet has made comparing auto insurance rates an easier task then in the past. One of the easiest ways to buy discount auto insurance is to go direct to Progressive's Auto Insurance's website. They will give you several rates from different companies. These are rates that are collected from customers that are switching to a Progressive policy. For this reason they are a good comparison if your situation is similar to that of the new Progressive customer. The Internet is useful to get other low-cost car insurance rates. This can be done by going to sites of such insurers as Geico Insurance, Safe auto Insurance are another company that will give you a rate over the Internet. It is advisable to get three to four quotes before selecting a company, and to take a little care in your research. While there is nothing wrong with purchasing the policy over the internet, and this way can be more affordable since your not paying for a agents commission, using a affordable car insurance broker or a insurance agent will give you personal service which if you chose a good agent will in the long run benefit you. The agent's knowledge and continuing education will only lead to bettering your financial position using affordable auto insurance.

* State laws and minimum requirements need to be checked for each individual states for they vary from state to state.

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