Car insurance tips United States us-how much do you need

Car insurance tips United States us-how much do you need

While subsegurado is dangerous, have too much insurance may also be a costly mistake. Without insurance, your property is put at risk in an accident where you’re the culprit. The minimum amount of insurance required in your State, is rarely enough.

State laws may require a small liability coverage of $ 15,000 per person, $ 30,000 per accident and $ 5,000 for property damage. Nearly half of u.s. States require $ 25,000 per person and $ 50,000 per accident. Half the States also requires $ 10,000 in property damage coverage. If you can afford it, buy more than the minimum coverage. After all, $ 10,000 for property damage may not be enough if you hit on a Mercedes-Benz that costs $ 100,000.

The more durable assets and income you have, the more will need to secure. Most insurers recommend liability coverage of at least $ 100,000 per person, $ 300,000 per accident and $ 50,000 for property damage if you have assets to protect assets, like a House. Some insurance companies also recommend purchasing a safe umbrella of personal responsibility, the amount of $ 1 million. This policy is issued together with the landlord. State Farm says that such coverage costs on average $ 270 a year. This amount may vary, depending on location and other factors. Umbrella insurance can protect a family from financial ruin in the event of a lawsuit.

There is no way to define a better way to purchase insurance, just as there is a better way to buy a car. The rates vary widely. Research suggests that prices vary between $ 500 and $ 2,000 per year for the same coverage, in different insurance companies. Search for insurance by consulting two or three of the largest insurers, as State Farm and Allstate.

Then, make contact with one or two independent agents can quote prices of more than one insurance company. In addition, there are companies that you can negotiate directly, like GEICO and Progressive. They don’t negotiate through sales representatives, but by phone. Also offer one of the lowest rates in the market. Ask for a detailed list of toppings and costs.

“Our prices are competitive,” says Dick Luedke’s, spokesman for State Farm, whose company rates have dropped slightly in 2004. However, with so many factors involved in setting rates, the ideal is to compare various companies.

According to the Insurance Information Institute, in 2004, the average price of auto insurance nationwide was $ 871. The organization hoped that the cost of car insurance to rise 3.5% in 2004, which would be the smallest increase in four years.

Don’t forget the internet. Many insurers offer prices on the web. The online search allows you to compare the rates of multiple insurance companies, in the comfort of your home.

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Insurance-car insurance tips in United States-how to reduce your insurance premium