FAQs

The term 'cheapest' in auto insurance is complex. While your state's minimum coverage requirements typically represent the lowest-cost option, combining these with high deductibles might seem economical initially. However, this approach could prove costly in the long term. In the event of an accident, you may face significant out-of-pocket expenses, potentially including future income garnishment. It's crucial to consider the long-term financial implications when selecting your coverage.

Insurance is a form of financial protection against unpredictable events. While some features like roadside assistance and rental car coverage provide peace of mind, they're unlikely to cause financial ruin if omitted. However, most components of your insurance program are designed to safeguard your financial future following an unfortunate incident. It's important to note that insurance coverage cannot be adjusted retroactively after an event occurs, so careful consideration of your needs is essential.

Insurance rates are determined by broad economic factors, with individual circumstances playing a limited role. Recent rate increases can be attributed to several factors: inflation affecting businesses across the board, ongoing supply chain issues, and the lingering effects of the 2020 covid-19 pandemic. The insurance industry, which sets premiums based on historical data, couldn't have anticipated the unprecedented costs of recent years. Labor and material costs have risen dramatically, storm damage has been above average, used vehicle values remain inflated, and the increasing complexity of newer vehicles' electronic and safety features has significantly raised repair costs.