My wife reminded me that our insurance policy provides towing reimbursement for accidents and repairs. I recently had to have my Expedition towed into the repair shop and my lovely wife reminded me that our insurance provides up to $50 yearly for towing. So take a look at your current policy and see if you have the same benefit and don’t forget about it the next time you need a tow!

Can you believe my wife did not know the difference between collision and comprehensive insurance coverage ?  Well to tell you the truth, she is a blonde, but it’s a sad fact that many people do not know the difference.  Click here to read about it…

Ever wonder what it takes to get the best auto insurance deals? Simple. Shop around and do it yearly. Don?t just keep paying the invoice over and over without comparison shopping. Here are a few suggestions to help you get the best deal available on your automobile insurance policy.

There are also many decisions you can make about your policy that will save you a bundle. As an example, if you change your deductible on your collision from a $50 deductible to a $500-$1000 deductible, you?re inline for a huge premium savings. If you don?t think you could come up with $1000 out of pocket, you can change it to a $500 deductible.

You can also get more of a savings if you change your comprehensive deductible. Many people needlessly carry full coverage on their older vehicle. They originally purchased the vehicle new, paid for full coverage and to this day, continue to pay the same high rate. Don?t make the same mistake: talk with your insurance company and see if there?s a better rate for older automobiles.

Here?s another great trick: combine your vehicles and other insurance together to get you additional savings. All insurance companies offer a multi-car discount (if yours doesn?t, it?s time to switch companies). Further, many will discount more if you have your homeowners or renters policy with them.

Determining how much Auto Insurance Coverage you Need

1: Other Party:

Auto Insurance Bodily Injury (BI) Liability and Property Damage (PD) coverage is Legally required in most states today. (BI & PD) Most people understand that they need BI and PD, but they have no idea how to determine how much coverage they need.

Try this simple question: What if your car was involved in an auto accident tonight where heaven forbid, someone else was injured or killed? Remember, everything you own is in the back seat of the car with you and is at risk in a lawsuit! So, what do you think their family would sue you for? $15,000? $25,000? $100,000 or even maybe a Million dollars! Where would you get the money to pay them?

Perhaps the Equity in your Home would help? How about your Savings and/or Investments? You could even have up to 25% of your wages attached to pay the award in most states! Are you prepared to sacrifice everything you own to pay an award due to this accident? If not, read on for how to choose the auto insurance coverage you need.

2: You and Your Family:

Now let?s turn the above accident around. For some unfortunate reason, you or a loved one is the one who is injured or killed in an auto accident. Where would you get the money if the person who hit you did not have auto insurance or not enough auto insurance? Medical bills can be covered if you have health insurance. But health insurance doesn?t cover loss of life, pain & suffering or permanent disability.

Think About it: You Need to Buy Insurance to Protect Yourself, Passengers, and Family Members by Purchasing Underinsured Motorist Coverage (part 4 of 4)

One serious mistake is to decline UIM coverage. Some companies require that you purchase UIM in the same amounts as the liability insurance. However, many companies, depending upon state law, are authorized to sell denominations of UIM coverage less than the liability limits. The insured thinks that he is providing some satisfactory minimal coverage for his family and decides to save some money with lower UIM limits. However, UIM is probably the most important place to spend money.

You are not as likely to cause an accident, as you are to be a victim of an accident. At least if you are taking the time to read this article, you are probably a person who will exercise more care and judgment in your driving than the ordinary person. Therefore, it is more likely that you will be making a claim against another person for injuries sustained by you at the hand of the third party tortfeasor. In this instance, the tortfeasor may (but likely will not) have sufficient insurance to cover you and your passengers for all of your medical expenses, wages loss, and general damages. If not, then the tortfeasor is said to be underinsured. In that instance, the balance of the value of your claim, above the bodily injury policy limits of the tortfeasor, is the responsibility of your own companys UIM coverage.