Hidden costs of discount auto insurance
Brought to you by Tim Gustafson - Gustafson Insurance - INSURANCE INSIDER -
Nobody wants to pay more for insurance than they have to. It's tempting to determine a budget and then find a policy that matches, but these short term savings can lead to long term problems and a big financial hit. Here are three prime reasons for avoiding cheap auto insurance:
1.) Paying out of pocket for medical and vehicle repair bills—Think twice before buying only enough coverage to meet state requirements; minimum coverage is generally liability insurance for property damage and bodily injury you may cause to others. If you're at fault for an accident, and you're injured, none of your own accident-related expenses will be covered by cheap car insurance.
2.) Losing money from your paycheck—If your discount insurance has a low liability limit, and you injure someone during an automotive crash, you can end up having your wages garnished until the remaining expenses are paid for.
3.) Being denied coverage when you lend your car to a friend—Good policies will cover you, any listed household members, and relatives or friends you let borrow your vehicle. However, a cheap insurance policy may limit coverage to you. So if someone else causes an accident while driving your car, you might not receive any coverage at all!
It's always better to have coverage and not need it, than to need it and not have it. For great auto insurance, call Gustafson Insurance today; we make insurance Simple.
541 NW 2nd Ave, Canby, OR 97013