Beware Our
Beware Of Budget Car Insurance
Everyone wants cheaper car insurance. There are many budget car insurance companies that will lure you in with the promise of low monthly payments and extremely low deductibles. You have to be aware of the type of coverage they offering you for this low rate as it usually means insufficient coverage and more out of pocket expense for you in the event of a claim.
Many insurance companies who offer budget car insurance only give you the legal amount required by your state. The coverage amount generally will be worthless in the event of a claim since the insured will be required to foot the bill for most of the expenses.
The state minimum is considered liability insurance and this means that if you are involved in an accident that is considered to be your fault any of the repair costs to your vehicle as well as any injuries you suffer will be your financial problem not theirs. If others are hurt in the accident the insurance may not be adequate to pay for their medical bills and you will be required to pay the excess.
You will be left holding the bill for any damages that occur to your vehicle that are not your fault such as hail, wind storms, or vandalism. The car insurance will not pay for any portion of damage to your vehicle for any reason. This means that traveling down that icy road in the winter could be very costly to you if you swerve and hit a tree or guard rail.
Many drivers on the road will have this budget insurance and what it means to you is if you are using the similar type insurance is that you pay for what their insurance company will not, even if it is their fault. There is no coverage offered for underinsured motorists or uninsured motorists in these cheaper policies. This means that any type of accident, your fault or not could cost you thousands of dollars and risk you losing your valuable assets.
In the event of your car being stolen there is no coverage for your loss. There is a good chance you will never recover the vehicle and you will be responsible for the cost of replacing it. In the slight chance you do recover the car any damages that were done to it will be your responsibility to repair.
That low deductible you were given is nothing more than a scam. No type of claim will require a deductible to be paid since you are responsible for all the damage that occurs to your vehicle. That low deductible amount is just used as a tactic to make you believe you are receiving an awesome policy when in fact you actually receiving nothing for your hard earned cash.
You have to have insurance to drive legally in any state and this is what the budget insurance companies are using to their advantage. They offer the minimum requirement to keep you legal but they do not offer anything to keep you safe.
Rod Stewart – My Foolish Heart
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This entry was posted on Wednesday, September 8th, 2010 at 2:54 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.