Forward Bank

No matter how old you are, where you live, the type of car you drive, or how you use it, there are some secrets to getting the right auto insurance coverage. If you follow the three suggestions below, you'll have uncovered the secret to purchasing the vehicle insurance that fits your life style.

Don't be impressed by 'the deal'

Many people believe they can get cut-rate car insurance and save money. However, this is a case of "buyer beware," as often the so-called "deal" turns out to cost you more for less. Read the fine print and ask questions – you'll probably find that the "deal" you're being offered isn't a deal after all.

You don't have to find a deal through strangers. Car insurance is probably one of the most important ways to protect yourself, your family and your assets. Many people are surprised to discover that increasing liabilities (rather than settling for state minimums) and other upgrades can be "stepped up" for a few dollars at most.

Ask your agent to provide different quotes – some with higher limits, some with extra benefits – so you can make a considered decision with someone you trust.

Another point: Your cousin's or your neighbor’s coverage may be just right for them, but not necessarily for you. Wish them well when they talk about the cheap policy they got online, but don't follow their advice. The consequences could be tragic.

Consider when and how you use your vehicle

This is an absolute must when it comes to building a policy around your needs. Before buying insurance, you need to know what you're buying coverage on and the risks that go with it, including those associated with your usage.

For example, if you don't drive a lot, consider usage-based insurance. It makes the most sense for someone who seldom drives and can save you money.

Ensure your vehicle has coverage specific to how it's used. A car rated as a pleasure vehicle is usually cheaper to insure than a vehicle rated as a commute vehicle. If you only drive the car on weekends or a couple times a month, it should be rated as pleasure.

If you drive your vehicle to work or school daily, it’s rated as a commute vehicle; however with the increase of telecommuting, more people are now using their vehicles strictly for pleasure vehicles. Verify that your vehicle is rated correctly, and if you've just become a telecommuter, be sure to notify your agent.

Use renewal time to review your coverage

Comprehensive? Collision? Bodily injury liability? If you don’t know what these mean, it’s time you did.

Why? Because some people have more coverage than they need; when they renew they simply purchase what they have had in the past. Others haven't got sufficient coverage for their needs, and may not even realize it until they have to make a claim.

Consider renewal time an opportunity to look at your current coverage and discuss it with your insurance professional. Maybe your needs have changed; don't forget to update your agent on recent developments, such as a new teen driver, a job change that may necessitate more business driving … even getting married. It could mean the difference between being fully covered and paying for a claim out of your pocket.

Not only should you review your personal policy for the coverage you carry, but you should also ask your agent about other coverage options available. For example, if you're like many, you may think that "full coverage" includes things like towing, labor and rental car coverage. However, you currently may only have liability, comprehensive and collision coverage, without the bells and whistles. The basic package may have been just right when you were younger, but now may not give you what you need. Ask your agent.

Finding the "secret" to acquiring the right coverage, isn't difficult, but too many people just don't think about their auto insurance policies. It's time to get together with your insurance professional  to discuss the state of your policy – It could save you money and heartache.