|
While every driver on the road is required to maintain a certain level of auto insurance in Lakewood CO, the fact is that very few of these drivers are actually aware of all the different auto insurance options which are available to them. In fact, nearly 80% of all insured drivers have reported that the reason they chose their current insurance policy is that this was the policy which was simply recommended to them by the sales associate. Furthermore, nearly 65% of these individuals admitted to knowing very little or nothing at all about what was actually covered under their current insurance policy. Personally, I found these statistics to be quite alarming. This is why I decided to take a few minutes to help further educate the general public about their auto insurance by offering you the answers to some of the most frequently asked questions regarding auto insurance in Lakewood CO. How do I know if I need more than just the state minimum auto insurance in Lakewood CO? The decision as to whether or not to invest in more auto insurance coverage than the state requires is a decision which will need to be made on a very personal basis. In most cases, the answer to this question will be determined by the overall value of your vehicle. In general, if you find that the replacement value of your car is less than two years of additional auto insurance coverage, it is highly unlikely that investing in additional coverage will be cost effective in your particular situation. What is the difference between collision and comprehensive auto insurance in Lakewood CO? When deciding to invest in additional auto insurance coverage, the two options which will be available to you are collision and comprehensive coverage. Collision coverage refers to the type of auto insurance which covers you against financial losses in the event that you are found to be at fault for an accident which damages your vehicle. Comprehensive insurance on the other hand protects you against financial losses which are not the result of an accident at all. For instance, if your auto glass breaks due to a road hazard or your vehicle is stolen, comprehensive insurance will cover your financial losses in these situations. Are there any ways in which I can save money on my auto insurance without dropping my level of coverage? Most auto insurance companies will offer you the ability to take advantage of several different discounts which will lower the amount of your monthly auto insurance payment without requiring you to drop your level of coverage. If you feel that you have already exhausted all of these discounts, you may wish to inquire about less common discounts such as employer sponsored discounts or a discount for taking a safe driver's course. What is the difference between a direct auto insurance policy and one that I get through an insurance broker? When you choose to purchase a direct auto insurance policy, you are purchasing that policy through the same company that will issue and back that policy. This means that if you ever need to file a claim against your insurance policy, the company which pays out that claim will be the same company that you purchased your policy through. When you purchase a policy through an insurance broker, that insurance broker basically acts as a middle man between you and the insurance company. While you will still get the same level of coverage as if you chose to purchase a direct policy, choosing to use an insurance broker can result in additional fees which are added on to your premium each month.
Related Articles -
auto, insurance,
| 
