Few Less Known Things about Car Insurance That You Need to Figure Out

When you buy a vehicle, you usually consider the model, make, color, comfort etc. However, how many times do you pay attention to your auto insurance?Neither at the time of buying nor after people acknowledges the importance of auto insurance. In fact, the last thing they notice is that the insurance has probably expired and they get it renewed from a local source. But that’s not exactly how you should go about it. You must look around for insurance companies in Memphis TN to find a reliable auto insurance provider so that you don’t end up paying more or pay for nothing at all.

So, it is definitely important to give your auto insurance in Memphis a second thought. There are some startling facts about auto insurance, which you might not be aware of. In fact, these issues could be the most unpleasant surprise you’ve ever thought of:

12 Premiums At Once: Now, even if it sounds like a great idea, it is not! Your insurance provider might try to convince you that it is the best thing to do – pay 12 premiums at once, up front. However, the catch is – you end up paying a lot of extra money than the actual accumulated amount for 12 months. Your cost could go as high as up to 30%, if not more for e.g Memphis auto insurance. The Excess: Exactly how much should be the excess amount of insurance, which is affordable for people? Of course, a higher excess reduces the auto insurance premiums; however, if you meet with an accident, you would require cash for instant repairs. Keep No Secrets: When you are talking to the insurance companies in Memphis TN, make sure you talk about every possible detail related to your car – when did you buy it, when do you drive, where do you drive, where do you park etc. If you claim that your car was parked and locked in a rented garage, but it was actually stolen from some street, you are heading for trouble.

Cover Check: Never forget to check the insurance cover thoroughly. Even if the insurance provider claims to provide a "fully comprehensive" cover, it can mean many things – especially in case of cheap policies. Technically, cheaper auto insurance does not include windscreen cover, courtesy car, legal cover and much more. It is definitely worth checking out. Make Legit Claims Only: If it was a minor accident, do not make a loud hue and cry claiming auto insurance in Memphis. In fact, for minor accidents, you should consider cheaper repairs than claiming a cover. While you should always inform your insurer about the accident, but claiming could lead to increased excess and premiums.

Premiums May Increase: Well, that’s one of the hidden clauses you should be aware of – if you meet with an accident, premiums could rise, even though you have protected no claim bonus. It may keep you wondering for a while, but there’s no point. You would have to pay more as the underlying expenses of insurance rises. Before choosing an insurer in Memphis TN, make sure you study and research thoroughly. Apart from website based research, get some local research and word-of-mouth testimony too.