When Is It Alright To Buy Only Your State’s Minimum Auto Insurance Requirements
When you are searching for auto insurance and receiving auto insurance quotes, there are a lot of products and services available. With so many car insurance quotes out there, it can become difficult to know which ones to buy, when to buy them and how much auto insurance you actually need. You want to have the coverage you need, but you do not want to spend all of your income on it. Overspending on car insurance doesn’t always mean you’re getting just the essentials. With that in mind, there are some circumstances where purchasing the minimum auto insurance quote allowed by the state is appropriate and is all you need.
One such situation, where purchasing the minimum auto insurance allowed by the state, is when you own an older vehicle. The value of an older vehicle has been reduced greatly and because of this, many auto insurance companies will only pay a very small amount or even nothing at all, to replace the vehicle if it has been in an accident. Car insurance quotes for older vehicles many times will be lower because of the age of the vehicle. Also, an auto insurance quote for the minimum auto insurance requirements is great when you do not plan to drive the car often. If the vehicle is on the road seldom, you do not drive far distances or take out-of-town trips in the vehicle, the minimum amount of insurance is fine as well. A car that mainly sits in a garage or parking space, or is used only for short trips to the store or in the vicinity of your home, only needs the minimum amount of coverage.
An auto insurance quote for a vehicle that has few passengers, or no children, is another time when the minimum insurance is fine to have. If you are not transporting people and do not have children or grandchildren regularly in your car, there is no need for the additional passenger coverage that can be purchased with auto insurance. Also, if you are the main driver of a particular vehicle, the minimum auto insurance requirements is okay to buy. If no one else drives your car, within your home or at your job, there is no need for the additional driver coverage that is available as well.
Buying the minimum amount of auto insurance will work fine in the above situations. Maximum amounts of auto insurance should be reserved for new vehicles, passenger cars, heavy use vehicles, long distance driven vehicles, business owners and high amounts of on-the-road driving. Purchasing the minimum amount of car insurance allowed by the state will be simpler and save you money as well.
