Settling on an auto deductible insurance policy is not an easy decision. Depending on your situation, auto deductibles will either provide you with peace of mind or complete frustration. Of course, it is easy to find a cheap auto insurer, however, finding one that is not only cheap for has great customer car, broad coverage plans and low deductibles is not so much.
Opting to pay for lower premiums puts you at risk of having to pay 20 percent out-of-pocket for auto damages. Lower premiums are an illusion. Or may be just a very good marketing strategy. Whatever the case may be, many auto insurance agencies will often use ‘lower premiums’ as a marketing tactic. Or more specifically, switch bait. However, every unethical auto insurance agency there is a morally correct one. Safeco auto insurance is a great place to begin exploring your options. The decision you choose on your insurance policy can have a much greater impact on you and your family’s life–so choosing wisely.
Higher upfront Costs
Lower premiums result in paying higher deductibles. In the short term, opting to pay lower on your premium expenditures can seem like a great investment. However, when you do inevitably need to file a claim, you are going to pay more out-of-pocket for you auto damages. If you do choose to raise your deductible from $450 to $1200, you will reduce your payments on monthly premium, but be prepared to pay any upfront costs than are less than your deductible.
Strategic Financing
If you’re someone who needs to pay higher on your deductibles, a great option is opening up on emergency fund that isn’t associated with any auto insurance policy. This gives you the opportunity to store whatever amount of money away into an accessible savings account. So, paying lower on premium rates can become more feasible due to your personal saving decisions. It’s a personal decision that requires self-control and methodical thinking. A certain percentage each month on your salary should be stored away into your “deductible” account.
Weigh More Options
Car safety and technology advancement continues to improve each year. Discounts on your premium costs may be available. Survey the fine print to see if you’re eligible for possible saving opportunities. Newer car models todays are installed with better safety regulations, such as improved airbags and intuitive hazard-alert systems. Depending on the level of safety your auto insurance agency deems of value could help you to decrease your premium rates.
State Requirements
Insurance companies are regulated by state laws and requirements, which outline the lowest possible risk premium for certain types of insurance policies. However, unlike health insurance, state laws and requirements for auto insurance does not require a specific amount on deductibles.
Ask Third Party Experts
A quick conversation with your local body shop professional can give instant insight as to which insurer they consider best. Most auto repair shops are well accustomed to dealing with auto insurance agencies, so their opinion should not be taken lightly.
