Cheap Insurance is Rarely the Best Insurance

Insurance coverage depends on how much you are willing to pay, it’s important that you not be cheap when it comes to insurance.

There’s a reason the phrase, “You get what you pay for” exists. The quality of the product or service for which pay will reflect how much you pay. The more you pay, the quality of the product is, usually, better than the product for which you would pay less. This especially rings true when it comes to insurance. The more you pay for insurance, the more coverage you will receive, thus, increasing your financial security when an accident occurs. Here are a few reasons why purchasing the cheapest insurance is never a good idea.

Why Purchasing Cheap Insurance Is Not Worth It

  1. When complying with the law. By purchasing the minimal amount of coverage you are doing two things: you are complying with the law AND you are saving big bucks. Looks like a win-win, but it could turn out to be a win-lose, with the loss going towards your wallet. If your accident surpasses the minimum coverage, it’s going to be your responsibility to come up with the money to pay the remaining–which could be tens of thousands of dollars.
  2. When opting for a high deductible. When you increase your deductible you will lower your monthly premium bill. There is a catch. By paying less monthly, you will have to pay more when you do get in an accident before your insurance steps in to cover you. A high deductible is not necessarily a bad idea, but you do have to make sure you have the funds to pay the deductible.

A quality auto insurance policy, with comprehensive coverage, should step in to cover any costs when you have the coverage that’s built for your needs! To learn more about how you can pay less for your auto insurance in Carlisle, Pennsylvania, contact Miller Insurance Associates.