What is important to keep in mind when buying car insurance?
There is big difference between just fire, thief, collision and all perils. All perils may cost more but in the end you are getting far more protection. Also ask about the cancellation rules. Every policy has different rules and it’s important to know what they are, otherwise an accident or a couple of tickets could lead to you being dropped.
Here’s a quick rundown of the 10 steps
1. Determine your province’s minimum insurance requirements.
2. Consider your own financial situation in relation to the required insurance and consider whether you need to increase your limits to protect your assets.
3. Review the status of your driving record — do you have any outstanding tickets or points on your driver’s license?
4. Check your current coverage to find out how much you are paying.
5. Get competing quotes from insurance websites and individual companies of interest to you.
6. Make follow-up phone calls to insurance companies to get additional information about coverage.
7. Inquire about discounts.
8. Evaluate the reliability of the insurance companies you’re considering by visiting your province’s insurance department website, reviewing consumer surveys and talking to family and friends.
9. Review the policy before finalizing it.
10. Remember to cancel your old policy.
This is just a guide do your own self diligence.
Ask the Expert, Fredericton Daily Gleaner