With Me Is Eric Poe... Chief Operating Officer Of Cute Auto Insurance... Eric What Are Some Things People Should Consider Before Renewing Their Auto Insurance Policies.
Eric: Well is think there are two things that they should definitely do. First, look at what types of limits they have for liability insurance. A lot of times people get their policy from whatever their parents had. And sometimes they do not have assets to even protect so look at your policy limits and ask yourself if you have assets to protect anyways... why should I be buying $100,000 worth in insurance when I do not have $100,000 to my name. The second thing I would also do is look at the deductibles. If you have deductibles that are really low... car insurance companies think that you are going to file more claims so they charge you more money. So what I would do is make sure that you have the highest deductible that you can afford if you get into an at- fault accident. Because that is the only time your deductible is being paid is when it is your fault... when it is someone else fault you never pay your deductible.
Could You Give Us Some Examples Of Things That We Could Change?
Eric: Well one of the things that I would definitely do is possibly drop all of your collision or your comprehensive coverage... that is the physical damage part of your policy. So if you have paid your car off, you do not necessarily want to pay 50% more for car insurance to have a twenty year old car insured just in case you hit it into a tree.
What Would You Say To People Who Think That They Are Getting A Benefit From Sticking With The Same Auto Insurance Company That They Have For Years And Years?
Eric: Well I would say that that is probably one of the most common misconceptions... people get these renewal forms that says you are getting this discount and that discount. So they think they cannot leave this insurance company because they are getting all these discounts. What they do not realize is, what good is it to have all these discounts if they rate you are paying is actually more than if you went somewhere else. So the moral of the story is always shop around, make sure you are getting the best rate. It does not matter how many discounts someone gives you if you are still paying more than someone who gets insurance with Cure Auto Insurance or somebody else.
thanks So Much, Eric. That's Eric Poe Of Cure Auto Insurance.