There are many factors that go into choosing the best auto insurance plan. This resource will walk you through the factors that you should consider when deciding on an auto insurance policy.
When hunting for the most affordable car insurance, it’s important to remember that insurance is essentially risk management. The less financial risk you want, the more insurance you’ll want to purchase. But lower risk and better coverage come at a higher price that, when push comes to shove, you hope you’ll never actually have to use. This conundrum is what makes choosing the right car insurance so difficult.
Consider what kind of insurance you need
The kind of insurance and level of coverage you need depends on several factors including:
- Where You Live– most states have legal requirements on liability and other kinds of insurance
Related: find your state’s auto insurance requirements
- If You’re Leasing or Paying Off Your Vehicle– if you’re leasing or still paying off your car, your lender might dictate the level of coverage you need to maintain for the duration of your loan
- Your Vehicle and Lifestyle– depending on the vehicle you want to insure and how you intend to use it, you’ll want to consider different coverage options
The more types of insurance and higher limits you have, generally the higher your premium will be, so it’s important to get only the insurance that’s right for you so you’re paying the lowest possible price while still feeling confident in your car insurance coverage.
Still not sure what coverage you need? Take the online quiz below to get started.