Buying a car is a big investment and is usually done after careful planning and thorough research. After this purchase has been made, the next big decision is to get it insured. It is legally mandatory to have an auto insurance- not just for your own financial security but also for the safety of others on the road. The process can seem daunting if one is not knowledgeable about the importance and components of the policy.
The following guidelines can help you understand the details of buying auto insurance in McAllen, TX:
- Kinds of insurance coverage:
- General Insurance: The policy covers you and your vehicle in case of a mishap/damage. This could be further divided into collision and comprehensive coverage against theft, vandalism, natural disasters, animal collisions etc.
- Liability Insurance: This will cover the bodily injuries and property damage of another party in case you are responsible for the accident.
- Underinsured/uninsured coverage: This will cover your damages in case the accident is caused by someone who is uninsured or underinsured.
- Factors that affect insurance amount: There are many factors that can affect your auto insurance premium amount.
: Your premium may depend on the type of vehicle you purchase. High performing, vintage and used vehicles usually call for more premiums.
- Age: Young drivers are likely to pay more due to their insufficient driving experience.
- Occupation: If you are in a job that requires more traveling, your premium may be more.
- Driving history: Prior traffic tickets or driving offenses may also upsurge the premium amount.
- Paperwork: You will be asked some critical questions while filling up the application form and it is best to answer them honestly. If you provide incorrect information, it may lead to cancellation of the policy. Read all the documents carefully to ensure that the policy you are buying suits your needs.
- Claim: You must know the course of action to be taken in case the car is damaged or involved in an accident or suffers damage. Also inquire the average claim disbursal time and the conditions for no-claim bonus in case you do not make any claims in the entire year.
Exclusions in the policy: Take a look at the clause that mentions policy exclusions. There may be some incidences which you might want to include in the policy like natural calamities. Discuss with the agent if you need any other coverage options in your auto insurance policy.
- Compare various companies: No matter if you are a first timer or repeat buyer, make sure you compare and negotiate the quote from at least two or three insurance providers. You can ask the insurance agent to simplify the coverage options. It is important to clarify all your doubts before you sign the dotted line.
For auto insurance in McAllen, TX
, consider Smith-Reagan Insurance Agency. We represent leading insurance carriers to offer you a customized plan with comprehensive coverage. For more information, you can call us at (956) 399 – 1353.