Learn how discount auto insurance can cost more than you realize.
No one wants to pay more for their car insurance than they have to, and this is why many drivers choose the cheapest car insurance options available. However, relying on discount insurance can actually cost more than you might imagine. Here are some of the ways in which discount car insurance can end up breaking the bank.
- You Might Have to Pay for Your Own Injuries and Repairs
While most states require drivers to carry liability insurance, this type of insurance only covers the cost of other people’s repairs and injuries. If you have minimum insurance, there’s a good chance that your policy will not offer coverage for your own damages and injuries. This means that you would be on the hook for any repairs or medical expenses that you might need.
- You Might Not Have Enough Liability Coverage
Even if you have some liability coverage, you might not have enough to effectively deal with claims. If your discount auto policy cannot cover a claim, you will be financially responsible for any damages or injuries to another party. In this case, you might even end up in court where a judge could order the garnishment of your wages. This means that you would have to give up a portion of your wages to cover what you owe the other party.
- You Might Be Denied Coverage
Most insurers will provide coverage for you, listed household members, and the friends and relatives that you let borrow your car. However, if you are relying on discount car insurance, other drivers might not be automatically covered on your policy. If this is true for you, and if your friend got into an accident while driving your car, your insurer could deny you coverage. This would leave you solely responsible for all costs associated with the accident.
These are some of the hidden costs of discount car insurance. Looking for comprehensive coverage that fits your needs and your budget? Look to the professionals at VGW Walker Insurance in Texas. Our dedicated team is ready to get you the coverage that you need. Contact us to get started today.
