Pennsylvania residents are legally required to have car insurance. So, before you change or buy it, here’s what you should consider.
#1: Budget, Budget, Budget
More than anything else, a person’s budget tends to be their #1 priority. Car insurance isn’t a fun expense, but a necessary one.
Setting your car insurance budget starts with your car. Your car insurance payment should never exceed 15% of your gross income. The best is to stay comfortably under 10%. If you love cars and want an expensive ride, keep in mind that your car insurance will increase along with it.
The more coverage you have, the better off you’ll be in case of an accident. But there is such a thing as “too much” coverage, or, more accurately, paying too much for the right coverage. Once you have an idea of the range of coverage you need for your vehicle, you will want to compare your provider options in your area to see which comes out on top — more than likely, there’s a car insurance plan out there with nearly identical coverage to other plans, but at a better price.
#2: The Coverage You Need
Deciding the amount of coverage you need, of course, largely depends on your vehicle. But, beyond this, there are other types of coverage you may want or need. Pennsylvania requires residents to carry liability insurance, for instance, to cover legal fees if you cause an accident.
You can also purchase uninsured motorist coverage. This is in case you get into an accident with an uninsured driver who can’t pay for their portion of the accident.
There are plenty of other benefits you can add to your car insurance beyond legal liability as well. Collision insurance will pay for the repairs your car needs from an accident you cause, and comprehensive insurance will cover damages that don’t involve another motorist.
So, when you’re buying car insurance, consider the situations you may find yourself in, and what coverage might be the most beneficial.
Beyond the car you drive, there are several things about yourself that you should keep in mind when deciding on a car insurance policy. For instance, your driving record could play a big role in the cost of your coverage as well as the coverage you need.
Your credit rating is also important. If you’ve missed a car insurance payment in the past, or just have a notably low credit score, you may have to choose from a more limited list of insurers.
On the other hand, if you have a great driving record or a great credit score, you should also consider car insurance policies that offer you discounts. This will lower your costs while still providing the same coverage.
The Future is With Us
Remco Insurance Services takes everything you need to consider before buying car insurance, and finds the best plan that works for you. To learn more, text us at (267) 692-8296, or call (215) 357-7878.