Purchasing your first vehicle can be an overwhelming and exciting process, but just because you have the keys to your vehicle doesn’t mean the process is over!
Check out these helpful auto insurance tips for first-time buyers!
Understand the Basics
If you are not familiar with how auto insurance works, it’s best you do some research before going out and requesting quotes.
Basically, auto insurance works by the customer paying a certain amount of money (premium) to the insurance company and the insurance company agrees to cover any losses defined by your policy.
Understanding Coverage & Your Premium
There are many different policies that have different coverage options.
From comprehensive to UM/UIM, to PIP–you need to see which one would benefit you the most. Also, be familiar with your state’s laws on insurance coverage minimums.
Your premium also depends on certain factors like your age, driving record, deductibles, and where you live. Your insurance company will add up all these factors and base your premium on those. A high premium usually means you are a “risky driver.”
Research & Compare
A good rule of thumb is to get quotes from three different insurance companies. Insurance companies will often have different systems for determining premiums, and may even offer different kinds of coverage in their policies.
Be sure to choose the best policy for you rather than go with the best price. Sometimes cheaper policies don’t offer enough coverage and you can end up paying more for something your insurance could have taken care of.
Payne Insurance Group
Payne Insurance Group wants you to be safe and covered while out on the road!
Payne Insurance Group provides insurance for auto, home, commercial, and much more! Payne Insurance Group has partnered with over 13 businesses across the Rio Grande Valley, As a result, we have created a one-stop-shop for all your automotive needs.
