In most states, having car insurance is required by law. Many drivers will purchase car insurance, but not look too much into what is covered. Here are four things you probably don't know about your car insurance but definitely should:
- Your Personal Belongings Aren't Covered: If you often drive with personal belongings, such as a laptop or other expensive items, you must know that you won't receive coverage for these items if they are damaged in a car accident or are stolen out of your vehicle. To ensure that your belongings are covered, you must have a homeowners or renters insurance policy. Be sure that these policies will cover damage to your personal belongings even if they were inside of your vehicle at the time they were damaged or stolen. Also, consider purchasing a homeowners or renters insurance policy through the same insurance company for a discount.
- Your Pet's May be Covered: If you often travel with your pets, it's important that you double check your auto insurance policy to determine whether or not injuries to your pets will be covered. Auto insurance companies will typically cover up to a certain amount in vet bills. If your auto insurance does not provide this, then definitely be sure to look into pet insurance.
- You Can't Stop Making Payments to Cancel Your Insurance: One important thing to take note of is that if you want to switch auto insurance companies, you cannot just stop making payments and expect for your current policy to be canceled. Instead, you must let your current auto insurance company know that you are canceling the policy, otherwise, they will report your lack of payments to the credit bureau. This also will most likely guarantee that you cannot work with that auto insurance company in the future if you ever decide to switch back to them or it will result in higher premiums.
- You Save More by Paying in Full: Finally, it's important to take note that you will save more money by paying your auto insurance premiums in full instead of monthly. This is because auto insurance companies charge their customers an installment fee when they pay monthly. On top of this, many auto insurance companies offer their customers a discount when they pay in full.
When you know these four things about your car insurance policy that you probably didn't know, you can now know how to more easily take advantage of your car insurance and ensure that you are always adequately covered. For further assistance, contact a local provider, such as Allstar Insurance.