The likelihood of a car crash is such that the average driver will be in at least four crashes in their lifetime, which is why Louisiana requires motorists to carry auto insurance. Moreover, it can be helpful regardless of who is at fault.
However, these policies are like any other goods in services, which means that drivers should find a plan that fits their needs. Not having the right plan can leave the policyholder wondering what they were paying for in the first place. Understanding what makes a policy cost more or less can be the difference between the right policy and the wrong one.
5 issues to consider
Here are things to consider when making decisions about insurance:
- What coverage is needed: Look at the state’s minimum requirement under liability versus something that is more comprehensive that can help with the replacement of the vehicle.
- Deductible: Higher deductibles mean lower premiums, but sometimes the higher deductible is more economically smart in the long run.
- Which company: It pays to research customer satisfaction with the provider, but bundling with the same carrier as a homeowners’ policy can also save money.
- What is right for my vehicle: New vehicles have different needs than new-used vehicles, just as expensive makes and models have different requirements than less expensive ones.
- What is right for my circumstances: It is more important for drivers with less money to have more comprehensive insurance because they cannot as easily absorb the sudden expense of damages and replacement. Moreover, comprehensive plans are often smart for those who need to drive for work.
The claims process
Understanding an auto insurance policy can manage expectations and make the claims process go more smoothly. Good insurance companies work with clients to resolve the claim quickly and efficiently. Unfortunately, there may be questions regarding a claim. In cases such as these, it is wise to speak with a personal injury attorney who can evaluate the scope of the damages and either hold the carrier accountable or help rectify misunderstandings that come up.