5 Auto Insurance Blunders to Avoid

Auto insurance isn't a fun expense, but it's a necessary one to avoid paying huge amounts of money in the case of an accident or emergency. That said, it's easy for people and families to make mistakes in regards to purchasing auto insurance that can end up costing them more than they'd like. Below are the most popular errors people make when buying auto insurance and some tips to avoid them.

Buying various policies from different insurers: Bottom line, insurance companies want your business – all of it. That usually means insurers will offer discounts if you bundle multiple policies together. The insurance companies make more money in the long run if they insure you for multiple policies rather than just one, and you end up saving by not having multiple policies from multiple companies.
Selecting a low deductible: It sounds good to have a low deductible – if your car breaks down, the only cost out of your pocket is $250, right? The problem is a lower deductible means higher premiums. If you can afford it, a higher deductible just makes much more sense for safe drivers who don't plan to file a lot of claims. It's recommended to increase your deductible to $500 or more. This will give you big savings month to month on your rates.
Paying your premium monthly: Every payment usually includes some extra fees for administrative purposes. Those fees can really add up in the long term if you pay your premium every month. To get the most out of your savings, it's best to take your yearly premium and split it into as few payments as possible. That can be just one lump sum each year, a couple payments a year or whatever fits your budget.
Forgetting to ask about discounts: You'd be surprised how many discounts there are for auto insurance – there are discounts for long-time customers, seniors, safe drivers and even students with good grades. You won't know if you qualify for one of these discounts if you never ask, so make sure to ask your agent if there are any discounts available.
Renewing a policy without a second glance: It's very easy to just re-up your insurance policy every year. It's quick and (at the time) relatively painless. But in the long run, it can be really painful – your situations change from year to year and you can reflect that in your auto insurance policy. Maybe you have a new driver? Or someone in the family is getting good grades or you need less coverage because someone has moved out of the house? Don't pay for coverage you don't need and always see what you need as your situation changes.

We'll help you save today. Call Mosley Agency, Inc. at (405) 224-1000 for more information on Oklahoma City auto insurance.

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