Thursday, July 15, 2010

"My $90,000 Car Isn't Covered By Your 15 Minute Insurance"

The good news: Last month you spent the 15 minutes needed to save $15 a month on your car insurance...hooray, that's $180 per year (that's a whopping 50 cents a day!)

The bad news: This month you rear-ended a jerk with a seriously bad attitude driving his $90,000 ego (his car) and now you're about to find out how good your 15 minute insurance coverage really is.

So what's REALLY important when it comes to your car insurance?  Saving $15 a month is nice, who wouldn't want an extra $180 per year in their pocket, but is saving $15 a month that important when your thinking about your insurance? Here are a few things of even greater importance to consider when buying your car insurance:
  1. In Colorado, if you cause the damage you pay the bills. If you do not carry enough insurance to cover the costs (like the previously mentioned $90,000 car) than the rest comes out of your pocket. Carrying lower liability limits (one way the 15 minute insurance companies use to lower your rates) is only smart if you never have an accident and who knows if you'll ever have an accident - that's why there called "accidents and not "on purposes."
  2. The number of uninsured drivers in Colorado is on the rise and reaching record numbers. If one of them hits you and you can't work for a month, what's the chance they're going to have enough money to cover your medical bills, work loss and pain and suffering? Yes, they owe you the money but if they can't even afford to pay insurance you're probably not going to get much out of them. Carrying higher uninsured motorist coverage is a wise idea in this era of increased uninsured drivers. Providing lower coverage is another way the 15 minute insurance providers lower your cost)
No agent, no guidance, no help with choosing the right coverage to protect you from the over paid jerk in the $90,000 car that you just rear-ended. Sometimes 15 minutes COSTS you in the when you're being sued for the things you new insurance policy doesn't cover.

Talk to a local, professional agent to find out what coverage you do and do not need to get the best insurance value - the PROPER coverage for the best price.

Robert Edgin

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