Here’s an article by my client Michael Strickland who is a public speaker, prolific writer of children’s books, blogs, and other subjects related to art, education, politics, and culture in Boise Idaho. Here’s the original link to the article: How I Lowered My Car Insurance Premiums
“There are worse things in life than death,” said Woody Allen. “Have you ever spent an evening with an insurance salesman?” Fortunately, my recent experiences with insurance have actually enhanced my life. Like so many others in this economy, I seek extra ways to decrease expenses. Lowering my auto insurance costs, while maintaining adequate coverage, was a goal.
To accomplish this, I researched what each of the elements of coverage mean. Then I pondered if there was any reason to choose limits of coverage higher than the state-mandated minimum. Third, I compared side-by-side the difference between various premiums and the state mandated ones.
Next, I educated myself about the parts of coverage being offered that I didn’t absolutely need. Then I looked for discounts. Who offers what?
I held onto bodily injury coverage, which is required by our State Department of Insurance and is designed to protect other drivers on the road. In the event of an accident for which I am considered at-fault, my carrier pays the medical bills of the other party.
Another important element I held onto was for property damage. Using the above scenario my coverage will pay for damages to the property I have destroyed of another party when deemed at-fault. This is not limited to their vehicle; it can extend to anything else I have damaged.
If there is contact between any two types of vehicles, whether one or multiple cars collide or if someone on a bicycle slams into the side of my car, I’m insured by the collision element. My policy also includes hit-and-run incidents where I am not able to locate the other “responsible” or negligent party.
I let go of extras, including coverage for under-insured motorist, uninsured motorist property damage, and medical payments. I also left out elective comprehensive coverage, which would cover my vehicle from any damage that occurs as a result of any incident that is not an accident involving motor vehicles. In the event that I incur glass loss from a rock hitting my windshield or because a neighborhood kid shoots his BB gun into it, I’ll just get my car fixed.
I travel less, so roadside assistance is no longer necessary. And automobile rental reimbursement went by the wayside too. If my car is in the shop, I’ll carpool, walk, or take the bus.
I’m healthier and happier due to these frugal choices, and still feel safe enough in my car.
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