How cheap is too cheap for car insurance?
Your car is a big investment and as such, you want to make sure that your investment is protected. Having automobile insurance is one of those things that you really can’t do without. Every time you drive your car, you’re taking a risk of being involved in an accident. There are many types of coverage available to protect you, your passengers, and your car if you’re in an accident:
- Uninsured and underinsured motorist
- Personal injury
Car insurance policies vary widely depending upon the type of and value of your car, your driving record, and your credit.
But, you’d really like to save money on your car insurance by purchasing a cheap policy at low insurance rates. The question then is how cheap is too cheap for car insurance?
There are several reasons why the cheapest car insurance available isn’t the best option for you:
- You get minimal protection from minimal coverage
- Higher deductibles result in more out-of-pocket expenses
- Lower limits result in increased liabilities
- Poor customer service and claims support
With cheap insurance you may get a better rate by lowering your coverage limits, increasing your deductible, and doing without important features and options, but in the long run, you end up skimping on the quality of your car insurance.
Looking past the monthly payments
The minimum car insurance coverage required by California state law is as follows:
- Bodily Injury Liability Coverage: $15,000 per person/$30,000 per accident minimum
- Property Damage Liability Coverage: $5,000 minimum
- Uninsured Motorist Bodily Injury Coverage: $15,000 per person/$30,000 per accident minimum
- Uninsured Motorist Property Damage Coverage: $3,500 minimum
If you’re looking for low monthly car insurance payments, you may be tempted to go with a cheap policy that provides you with the lowest possible monthly car insurance rates. This usually means that you’ll have the minimum coverage allowed by law, but not necessarily the amount of coverage that will protect you in the event of an accident.
So, what you should be looking for is an affordable policy vs the cheapest policy available. By spending a little bit more on your monthly insurance payments, you can have insurance that, not only offers you the protection that you need, but at a price that fits your budget.
Coverage when you need it most
The bottom line — you can opt for cheap insurance that, in the end, offers very little coverage or, if you’re willing to spend a little more, you can find valuable, affordable coverage that gives you the protection you need at a price that won’t break the bank.
Los Angeles auto insurance broker, Dan Fraisse, is an independent insurance agent and broker whose top priority is to find the best coverage for his clients at affordable rates. As an independent broker, Dan is working for you, not for any one insurance company.
Don’t settle for cheap car insurance. Let Dan Fraisse take the hassle out of finding you an affordable low-cost option that gives you the coverage you want and that you can afford.