Pam's Insurance Site

About Me

Pam's Insurance Site

When I bought my first house, I was already going into a lot of debt. I didn't have the money to seriously insure it, so I bought only the bare minimum without consulting an insurance professional. That was a big mistake on my part. It could have turned out alright. That is, if my house hadn't been in the path of a huge storm. Huge gale winds knocked a tree down straight through my roof. My house was practically destroyed, and my minimal policy didn't cover nearly enough. I spent years and years trying to get myself out of that financial mess. Since then, I have always been very cautious in learning about insurance and talking to the real professionals.


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What Are You Doing Wrong With Your Car Insurance?

Before shopping for auto insurance, you likely did your research to find out what you could do to lower your premiums and get great coverage. What you might have overlooked is what you should not do in your pursuit of a good deal. Making mistakes in finding and applying for coverage could leave you with higher premiums and the wrong coverage for your situation. To help you avoid this, here are a few mistakes other insurance shoppers have made.

Excluding Drivers

It might be tempting to leave your teen driver or someone who has traffic tickets off your coverage, but this could prove to be a costly mistake in the future. If that person is involved in an accident in the future, your insurance company could significantly raise your premium. Worse yet, the company could choose to cancel your policy. If that happens, finding affordable coverage could be challenging.

To avoid this, list everyone who is going to drive your car. If you are worried about the premium being too high, take advantage of discounts to lower your rates. You also must remember that many insurance companies do offer to lower the premiums after a certain period of safe driving by every driver that is covered on the policy.

Opting for Monthly Payments

A lot of car owners opt for the monthly payment option for their insurance because it is easier for their budget. However, choosing monthly payments could mean that you pay significantly more for your coverage. Insurance companies tend to add on fees, such as processing fees, for each payment that is made. When you pay monthly, those fees can add up.

By opting to pay for your coverage every six months or annually, you could save on those fees. Your insurance provider might even offer a discount just for doing so. The savings could be put away to help cover the cost of the deductible if there is an accident.

Leaving Out Details About Parking Location

Simply stating that your car is parked at your residence is not enough. You need to be as accurate as possible to ensure that incidents that happen at your home are covered.

For instance, if your car's parking location is the street in front of your home and it is sideswiped by another car, the insurance company could refuse to pay your claim if you failed to mention the exact location. 

For more information, talk to a professional at companies like Crowel Agency, Inc.