Article Advise

submitted: Aug 15th 2008 | by: ChinecheremAnyalewachi | Total views: 1 | Word Count: 406 | |

What do you want the most -- the cheapest auto insurance quote or the most adequate coverage for you? This may look like an odd question but it isn't.

Because the law so demands, you must have this policy if you want to drive. But what if you know that you really won't gain from this policy? In such a case I'll advise that you buy the minimum demanded by law.

We'll look at one such situation where this applies and how to go about it for the best results...

Comprehensive and collision coverage are great for an auto insurance policy. However, for an old car that's NOT a classic, they are NOT advisable.

To determine what you get as reimbursement when you file a claim, there's a convention that is used to determine your vehicle's value at the time (Kelley's Blue Book Value). Experience has shown that once your car is old, it doesn't have much value. This means very little or NO reimbursement irrespective of how much your coverage is.

Central truth of this whole talk: If you have an old car, drop collision and comprehensive coverage on it -- It's the smart thing to do.

Now someone may argue that you also need to protect yourself properly from liability claims. Yes, you need to. But there's a better way to do it...

An umbrella policy is the perfect product for you. It's a lot cheaper but gives far superior coverage. With your auto liability coverage you'll still be very vulnerable to crazy liability claims. And you know, these attorneys can actually go after your assets if your insurance coverage can't pay up.

For just less than $300 you can easily get $1 million coverage with an umbrella policy. Try that for your auto insurance liability coverage and see if you won't have to pay a lot more.

And I almost didn't tell you that it will cover all liability claims against you and NOT just those related to your vehicle.

If it makes sense in your case, go for the minimum required by the law. But, please, it's better to buy more coverage than you need than to put yourself in a bad position. Take some time to think this through. And, don't forget to consult a financial expert.

If you want to save even more without putting yourself at risk, take some time out to do extensive comparison shopping. Get and compare quotes from a wide range of reputable auto insurance quotes sites.

About the Author

If you want to enjoy affordable auto insurance visit: Free and easy auto insurance quotes and Affordable car insurance quotes -- No obligation. Chimpuriche Chihunrumnanya writes on insurance.

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