After many years of representing auto accident victims in Kentucky, I have realized that many of my clients are injured both physically and financially. When you are not able to work, it puts both an emotional and financial strain on the entire family. Often times, the accident is the result of someone else‘s negligence behind the wheel. It gets even worse when both the victim and the person who caused the accident don't have adequate car insurance to cover all of the costs.
How can you avoid this?
One of the key factors is to know what to ask your insurance agent. When you are purchasing car insurance, ask your agent exactly what you are getting and what it means to you if you are in an accident. Listed below are four of the most important questions you should ask your car insurance agent:
- What does this coverage mean?
- How much does this particular coverage cost?
- How much more will it cost if I raise my limits for that coverage?
- What are your competitors' rates for this same coverage?
By asking your insurance agent these questions, you will be able to compare the costs. The increase in coverage is not related on a one-to-one ratio with the increase in premium. Many times, you can increase your car insurance coverage by 10 times, but your premium will only increase two times or less. Ask your agent for exact rates as they relate to you.
Surprisingly, many insurance companies will offer discounts on your premium. Some of the most common discounts offered in Kentucky include:
- Good Driver Discount (Basically no claims for a certain number of years)
- Good Student Discount (Usually the student must carry a 3.0 GPA)
- Family Package or Multiple Policy Discount (This is when you have homeowners, automobile insurance and other insurance with the same company)
- Multi-Car Discount
- Passive Restraint (airbag) Discount
- Anti-Lock Brakes Discount
- Driver Training Discount
- Vehicle Alarm System Discount
Ask your insurance agent about these discounts. You may want to also ask them if they have other discounts that would lower your car insurance premiums. Make sure what is offered to you is a discount and not an increased deductible or a waiver of some important insurance coverage. Everyone wants to make sure they have the right insurance coverage, but why pay a premium price if you don’t have to?