When purchasing auto insurance, it’s important to get the appropriate type and amount of coverage for your unique needs. Without adequate protection, you risk facing a significant financial burden if you were to cause an accident, or your car is damaged or stolen. However, you don’t want to pay a higher premium than necessary. Unfortunately, finding the right balance between coverage and price can be challenging, and many people end up making costly buying decisions. Here are a few mistakes to steer clear of. 

Common Errors to Avoid When Shopping for Auto Insurance

1. Not Getting Enough Coverage

While it’s tempting to save money by choosing the least expensive policy or only getting enough coverage to satisfy the state’s minimum requirements, this can turn out to cost you more in the long run. If you’re found at fault for an accident, you’ll be responsible for paying the other party’s medical expenses and any additional losses they incur. This can amount to thousands of dollars, and you will have to pay this out of pocket if you aren’t sufficiently covered. Also, should your vehicle sustain serious damages or get stolen, you’ll have to pay for the repairs or replacement yourself. It’s best to have a variety of coverage for whatever disaster may arise. 

2. Failing to Understand What a Policy Includes 

Another big error to avoid is not learning what an auto insurance policy covers before you purchase it. You don’t want to assume you’re covered for a particular event only to find out when you need to make a claim that you don’t have the correct coverage. Be sure to go over your policy with an insurance agent to ensure you understand how you’re protected and determine if there are any gaps you need to fill in. 

3. Neglecting to Ask About Discounts 

The majority of auto insurance companies offer an array of ways to cut premium costs. However, these discounts aren’t usually applied automatically. Consumers are often unaware of this and neglect to find out what savings they qualify for. Thus, it’s essential to make sure your agent checks to see if you’re eligible for a lower rate. Discounts are commonly given for bundling policies, taking a driver’s safety course, and having modern safety features on your car.

If you’re in need of reliable auto insurance, turn to the agents at Hamilton-Martin Insurance Agency. Offering more than two decades of industry experience, they will explain all your coverage options and help you customize a policy that’s suitable for your situation. As an independent agency, they’re proud to provide residents in and around Louisville, KY, with personalized service and quality products at competitive rates. Call (502) 957-6500 to request a quote, or visit their website to view their services.