Car Insurance

We tend to avoid things we don’t understand, don’t have time for, or don’t want to worry about. When it comes to insurance, many of us buy a cheap policy, pay our premiums on time, and forget the rest. The downside to this mindset can’t be overstated: you could lose hundreds – if not thousands – of dollars a year overpaying for car insurance you don’t need; or, you could end up with an insurer who, when an accident occurs, will end up costing you thousands you would otherwise receive from another provider.

Beyond simple peace of mind, car insurance coverage is a requirement in all 50 states, and, as you’d expect, state rules for providers and drivers vary. The average American driver will be involved in an accident once every ten years – in some regions it’s once every five or six years. If you were exposed to several thousand dollars of risk every five years, you’d want to educate yourself on how to be prepared, right?

 

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Accidents aside, our lives are always changing; insurance works the same way. The Simple Dollar car insurance experts will walk you through assessing your own risk and then empower you to make a coverage decision that agrees with your budget. We’ll also show you how to pick out the good policies and insurers from the bad ones, and how to use your policy to get the most out of your coverage in the event of a claim. Whether you’re thinking of buying your first car or adding another to your garage, The Simple Dollar’s Car Insurance Guide will show you how to navigate each step of the way.

Insurance Guide

"So, what is car insurance," someone once asked me, “they give you a new car when it gets wrecked, right?” Not quite. You might be new to the whole concept, or you might be an old hand at negotiating the best price on the market and filing claims, but there’s still more to learn about the world of auto insurance. It’s never a bad time to refresh yourself -- just like calculus, you don’t learn it staring out the window during Mr. Pikowski’s fourth period class. You have to study -- but don’t worry, this won’t be as hard as Mr. P's. First, we'll start with shopping for auto coverage – which company offers the policy that's best for you, and how do you track them down? Next, we'll discuss some of the confusing jargon that runs rampant in the insurance industry – arbitration clauses, limit of liability, and other terms that befuddle first-time policy buyers. Then, we'll explain how to not only assess your own risk, but how to choose the right amount of coverage based on your self-evaluation. And of course, we'll cover the most important aspect of auto insurance – how to file a claim, and what to expect during every stage of this admittedly exhaustive process. Readers are encouraged to contact a local auto insurance provider or attorney for specific information about policies, legal advice, and other complexities – but also feel free to drop us a line, and we'll do our best to answer your specific questions!
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Coverage By State

Did you know minimum liability coverage is five times higher in Texas than in California? Or that some states don't require insurers to offer certain coverage to motorcycle owners? Several states allow drivers to obtain 'split limit policies' – but what are they, exactly, and is your state one of them? Whether you’re moving across country or going on a long road trip, you’ll need state-specific minimum limits to cover you. If you kept your policy when you moved, you might be paying for coverage your new home state doesn’t require. And when it comes to your rights as a policyholder, each state regulates its insurance companies differently, meaning your rights and options can vary depending on what stretch of highway you’re on. Take a gander at our Coverage by State Guide for more information about the car insurance rules and regulations in your home state.