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Monday, May 4, 2009

Finding the Best Auto Insurance Deal for You

By Brad Morgan

When it comes to car insurance, you have your choice of hundreds of companies which will provide coverage for your most important possession.

It can be difficult to find a company that offers both excellent coverage and affordable prices. Too often, we have to choose from high rates and superior coverage or low rates and substandard coverage.

It can be difficult, but you should be able to find coverage for your car that is within your budget. First, though, you should evaluate what type of insurance needs you have. Your requirements are based on what is right for your personal situation as well as what your state mandates. What areas do you need coverage in?

Discuss these expectations with a car insurance agent to see if any of their policies offer that type of coverage. Make sure to investigate how the policies cover the other drivers of your car.

Finding a policy that suits your needs is only the first step. You also need to find a company which can offer it to you at a price that is affordable and within your budget.

In an unpredictably fluctuating economy, it is wise to choose a car policy that will not devastate your bank account if other aspects of living, such as groceries or gas prices, continue to rise.

Before you decide on a car insurance policy, take a look at your other expenses. For example, it is expensive to fill even smaller cars with gas. This cost, and the cost of commuting, needs to be figured into your overall budget.

Before considering a pricier car insurance plan, the cost of a lease or car payments also need to be factored in.

Before you buy your car insurance policy, consider your other costs associated with the car: $300 a month in gas, another $300 for a payment, and don't forget maintenance and repairs. This can help you see how much you can actually afford for insurance.

If you purchase a car insurance policy without looking at your overall budget and your budget for car maintenance in specific, you may end up paying more than you can afford.

Having an affordable car insurance plan is a must, but if you do have one that is pricier than you can comfortably afford, make sure factors like the deductible are manageable.

The deductible is the amount that you pay before your insurance kicks in and can be set when you buy your policy. You can also choose to have coverage for bodily injury. If you do, make sure you get the lowest amount to suit your needs.

For instance, if you have good health insurance through your job or other insurer, you may not need as much bodily injury coverage through your car insurance. Property damage coverage is important, though, so you can cover the cost of damage to your property or others in the case of an accident. This is likely to be too expensive to cover out of pocket, so you would want more coverage.

Your coverage for bodily injury and property damage can be widely different from the next person's. You should choose the levels of protection that are right for you. Choose a car insurance company that will work with you to get you the coverage you need. - 23211

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