When it comes to auto insurance, most people think they know what they’re doing. But in reality, many people make mistakes that can cost them a lot of money. In this post, we’re going to look at five of the most common mistakes people make when buying auto insurance and how you can avoid making them yourself.
1. Lying on the Application
This is perhaps the most common mistake people make when buying auto insurance. They think that by lying on their application, they’ll save money on their premium. But in reality, all it takes is for one tiny detail to be different from what you put on your application, and your policy could be voided. And if you have an accident while your policy is voided, you could be in for a world of financial pain. So always tell the truth on your application. It might cost you a few dollars more in premiums, but it’s not worth the risk.
2. Not Shopping Around
Another mistake people make is not shopping around for the best rate. There are a lot of auto insurance companies out there, and they all offer different rates. So take the time to shop around and compare rates before deciding on a policy.
3. Not Understanding the Policy
Before you sign up for a policy, it’s important that you understand what it covers. Don’t just take the word of the insurance agent. Please read the policy yourself and make sure you understand it. If there’s something you don’t understand, ask questions until you do.
4. Going for a High deductible
Many people think that having a high deductible will save them money on their premiums. And while it’s true that it will lower your premium, it’s also true that you’ll have to pay more out of pocket if you have an accident. So you need to weigh the pros and cons of having a high deductible before deciding on a policy.
5. Not Getting Enough Coverage
This is a mistake that can cost you dearly if you have an accident. Make sure you have enough coverage to protect yourself financially in the event of an accident.
These are just a few of the most common mistakes people make when buying auto insurance. By avoiding these mistakes, you’ll be able to get the best coverage for your needs. Are you looking for auto insurance in Omaha, NE? Ed Thompson Insurance Agency can help you get the coverage you need at a price you can afford. Contact us today for a free quote.