Car Insurance Surprising Things
Car insurance is a fickle subject with several considerations. Consumers know they need it if they have a loan on their vehicle. They know they should have at least some coverage if they own their vehicle outright, and you do know you want to pay as little as you can for as much coverage as you can. It’s not uncommon to want to pay as little as possible for something you never use. Car insurance is an aggravating expense since most people don’t use it. You pay for it, but you don’t want to use it. That’s the point of car insurance. Even if you think you know as much about it as there is to know, there are a few interesting things you might not know about your car insurance policy that might take you by surprise.
Your Personal Effects Are Not Covered
Many consumers live with the idea their personal effects are covered by their car insurance, but they’re not. Even with a comprehensive car insurance policy, your personal effects will not be paid for by your insurance company if they are lost or stolen during an accident. Leaving anything of value in your car is a calculated risk many people take, but don’t be surprised when your insurance company informs you they will not pay for the missing laptop, stolen jewelry, or missing luggage from your trunk if you are involved in a break-in or accident.
You Can Save Money By Paying Upfront
When you sign up for a car insurance policy, you have the option to pay your premium for the year upfront or with monthly installments. Monthly installments are what many consumers pay each month, but it’s much more expensive. Car insurance companies offer discounts for consumers willing to pay their entire premium upfront, and that’s not even the only savings you’ll receive. You also save when you pay all at once because you’re no lingering paying a convenience fee or monthly fee for your funds to be withdrawn from your bank account.
Many consumers save more than $100 per year on the total cost of their insurance when they pay it all upfront. It’s one of the simplest ways to save money over time, and it’s for something you need but don’t necessarily enjoy paying for.
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You Can Ask for Deployment Discounts
If you are an active member of any branch of the Armed Forces, you can ask your car insurance agency if there is a discount for your deployment. If you are leaving behind a car that will not be driven by a spouse or other person, you’ll want to ask about terminating coverage while it’s in storage. Many insurance agents allow this, or they’ll ask you to switch to a policy that’s much less expensive but still retains a little coverage in case something happens to your vehicle while you’re away and it’s in storage.
There’s always something consumers don’t know about car insurance, which is why reading your policy carefully is always a wise idea. Know what you’re covered for, what’s not covered, and how to handle situations if they occur.