 Whether you are insuring your first vehicle or you simply have not shopped your car insurance in Lake Charles, La. a while, the goal is the same: You want to be sufficiently covered if you are involved in an accident, without paying more than you need to. Unfortunately, individuals do overpay because they lack the time to shop for their car insurance. However, shopping your auto insurance can save most individuals could save hundreds of dollars a year.
Kelly Lee Insurance in Lake Charles, Louisiana, represents over 50 insurance carriers; allow us to do the shopping for you. Step 1: How Much Insurance Coverage do You Need? To find the best auto insurance policy, start by figuring out how much insurance coverage you will need. In Louisiana, every vehicle is required to have minimum liability limits of 15/30/25. The payments, or numbers, break down as follows: $15,000 for bodily injury to one person, $30,000 for bodily injury to more than one person per accident, and $25,000 liability coverage for damage to the other vehicle if you were at fault. Determining How Much Car Insurance Do You Need Knowing Louisiana State Minimum Insurance requirements will help decide the amount of coverage you need. This decision is based on the level of personal risk you are willing to assume. Industry authorities recommend obtaining enough liability coverage to protect your personal assets in the event of an accident. If you obtain an insurance policy with $50,000 of bodily injury liability coverage and your personal assets are worth $100,000, in an at-fault accident (you caused the accident) that exceeds your $50,000 insurance coverage, the injured party can be awarded money from your personal assets (personal assets can include your savings, retirement and even your home). The type of vehicle you drive carries weight on your insurance needs and requirements. If you currently drive an older model vehicle and do not own assets, your requirements will be less than if you purchased a top-of-the-line new vehicle, own a home, and have a large savings or retirement account. Your vehicle's insurance coverage should reflect how much you stand to lose if you cause an accident. Step 2: Review Your Current Insurance Policy As dull as it is, read your current policy thoroughly or contact your insurance agent in Lake Charles, Louisiana, to obtain the information you need. Take notes on the amount of coverage you currently carry and the amount you are paying for it. Examine the monthly and yearly cost of insurance; most insurance companies quote policies both ways to compare policies. Step 3: Know Your Driving Record Most individuals know if they have had any tickets or accidents in the last three years; if you can't remember, check with the Louisiana department of motor vehicles. If a ticket is about to roll off your driving record, consider waiting to shop insurance or purchase a vehicle until it does. Your improved driving record will help you find the best auto insurance rates. Step 4: Research Competitive Quotes Now you are ready to shop your car insurance in Lake Charles, La. Schedule time to speak with several agents or find an office that writes for many carriers. You should have a copy of your current insurance policy in hand, your driver's license, and your current vehicle registration. Keep in mind, not all insurance companies over multiple insurance carriers. You can save valuable time by working with an agency that writes for and can shop multiple carriers by giving your pertinent information to one agent. Step 5: Gather Company Information Once you have your competitive quotes, carefully review the coverage and rates to ensure the coverage limits are the same and inquire about the insurance companies' payment policies (when payment is due, paid in full discounts, what happens if your payment is late). Step 6: Ask for Discounts When you shop for insurance, ask if the various companies offer discounts. For example, many insurance carriers offer good drivers, good students, vehicle safety ratings, security equipment, multi-policy, and other occupational or professional affiliation discounts. Step 6: Ask for Discounts When you shop for insurance, ask if the various companies offer discounts. For example, many insurance carriers offer good drivers, good students, vehicle safety ratings, security equipment, multi-policy, and other occupational or professional affiliation discounts. Step 7: Assess the Companies Now you should have the insurance policy price and coverage information you need to decide. You can look at which company offers the best insurance coverage at the best price, but price should not be the only basis for choosing an insurer. A company's financial stability should be considered. A history of taking care of their clients should be evaluated as well. You can find how an insurance company treats its clients by visiting the National Association of Insurance Commissioners' Consumer Information Source to assess a company's performance. The NAIC provides licensing information and critical financial data about insurance carriers. You also can visit the Louisiana State Insurance Commissioners website to view consumer complaints and rate comparisons auto and homeowners insurance. Step 8: Cancel Your Previous Policy Once you have selected the new auto insurance policy you want and have your proof of insurance, you need to cancel the policy with your existing insurance company. TAGS: Tasks to Tackle before shopping insurance in Lake Charles, Louisiana, auto insurance, car insurance, truck insurance, motorcycle insurance Louisiana
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