Ashley Bellman: With me is Eric Poe, Chief Operating Officer or CURE Auto Insurance. Eric, what advice would you give people shopping for car insurance?
Eric Poe: Well the biggest tip is to go onto three or four different websites and get quotes. People just do not shop around enough and they don't sop around often enough. People don't realize that state actually requires certain coverage for every single policy that's issued. So really, the most important thing for people is to make sure they are paying the lowest price.
Ashley Bellman: What is the difference between full tort and limited tort?
Eric Poe: So basically, most of these states have a law that will limit your right to sue if you get in a car accident to serious injuries. And if you agree to not clog up the courts with frivolous lawsuits, frivolous injuries, they will actually give you a huge break on what you pay on car insurance. Most people should actually choose a limited tort. Ashley Bellman: Should someone chose a higher deductible and are those savings actually worth it? Eric Poe: In my opinion, you should always try to increase your deductible as much as possible. People always get scared about how much money they are going to pay on a deductible, but they don't realize that deductibles are only applying to you if it's your fault in a car accident. So you might increase your deductible to 500 dollars to make it even one thousand, you might save 250 dollars a year. Now if you don't get into an at fault accident within a ear or two years, you have already saved that 200 dollars in your pocket and you would have to pay one thousand dollars out of your own pocket. You saved 500 dollars in that time you didn't have an at fault accident.
Ashley Bellman: Why is CUREAuto Insurance different form other insurance companies?
Eric Poe: Well, the most important thing is we don't use any credit scores. We don't use a person's education, we won't use a person's job to determine what they are going to pay for car insurance. We primarily care about how well you drive. Secondly, we are non for profit entity. So anytime we have money leftover at the end of the year,we actually by law are required to give it back to the policy holders. Unlike regular, traditional car insurance companies, that have to make money and profits or their stock holders.
Ashley Bellman: Thanks so much Eric. That's Eric Poe CURE Auto Insurance.