The Difference between Cheap and Affordable

When you are shopping for auto insurance, you’re bound to run into countless ads for cheap auto insurance coverage. Why get a cheap policy when you can go for a better option, an auto insurance policy that is affordable?

Cheap and affordable may seem like insignificant distinctions, but the gulf between the two could not be wider.

The Problem with some “Cheap” Insurance

Cheap insurance is the kind of policy one gets just to satisfy state regulators. It has minimal coverage for bodily injury and property damage liability, the minimum required for personal injury protection, and deductibles so high that your savings account would weep if it had tear ducts. Often, the limits required are not high enough to actually cover the average dollar amount of claims in your area and since you have no protection for collision or comprehensive, there is no mitigation for damages your car endures during an accident. Between the lack of real, meaningful coverage offered by these policies and the sky-high deductible, the premium is cheap.

The Benefits of Affordable Protection

Affordable policies, on the other hand, offer meaningful benefits at a price that fits easily within the confines of your budget. They protect you against realistic costs for bodily injury and property damage liability, provide enough personal injury protection to shield you from damages, and also give collision and comprehensive benefits that protect you from the financial damages associated with fire, theft, accident and more; something a cheap policy wouldn’t dream of doing. Finally, affordable policies protect policyholders against damages caused by uninsured or underinsured drivers. Sometimes, you can even create an affordable policy with additional protections, such as loss of use.

In addition, affordable policies have deductibles that are reasonable. They help reduce the premiums by shifting some of the risk onto the policyholder, but they are figures that a policyholder can afford. People often forget that deductibles on auto insurance policies are per incident, not per year. A high deductible could spell trouble for a policyholder’s financial goals if they have more than one incident in a year. Low limits don’t actually stop you from being liable for damages you cause, they simply limit the insurance company’s responsibility to pay. You must pay out-of-pocket for anything that exceeds them.

When you work with the agents at Premier Group Insurance for your auto insurance needs, we create a policy that’s affordable. A policy that offers you and your family meaningful protection with premiums that fit your budget. Give us a call for your free Colorado Car Insurance quote today.

Commercial Auto Insurance and Your Future

Knowing whether or not your need commercial auto insurance is a question asked by nearly all business owners.

Not having this policy is usually justified by the fact that only the owner drives the company vehicle, or that the business doesn’t even own a vehicle—while employees using their own vehicle for errands are typically overlooked.

The truth of the matter is this: if you have a vehicle that is used for business or if you have employees that use their own vehicles for company errands, then you need commercial auto insurance.

Insurance serves to protect your finances and your future. Having auto insurance means you care about being insured after an accident. But when you try to stretch this same policy to a company vehicle, you’ll find your claims denied and your policy dropped in the event of an accident. Having your claim denied can hurt your business, hinder your finances, and be devastating in general.

There’s no need to risk the future of your business and your family when there are so many ways to have a commercial auto insurance policy that covers everything you need. With drive-other-car endorsements and non-owned coverage, cover yourself, your family, and your employees.

In this economy, it’s easy, and sometimes necessary, to cut corners and save money for your business. But if cutting those corners exposes you to more risk than it’s worth and more than you can afford, it will only lead to bigger problems. So don’t take unnecessary risks with your Colorado Car insurance. Speak to a trusted agent at Premier Group Insurance to get the kind of coverage that will protect your family, your business, your employees, and your future.

Steer Clear of Expensive Car Insurance Mistakes

As the economy continues on its downward spiral, consumers across the nation are tightening their belts and trying to save money wherever they can. Unfortunately, many people don't realize that they're losing untold amounts of money by overpaying on car insurance.

If you're looking to save on auto insurance, steer clear of these common car insurance blunders:

Blunder #1: Not shopping around for the best car insurance quoteIf you go with the first car insurance company that comes your way, you could be losing hundreds of dollars each year. It's worth your while to shop around and try to find the best deal out there. When it comes time to renew your insurance, it may be easy to stick with the same insurer you've had for years-but you won't save any money that way. Car insurance companies will calculate your rates differently, so you may be able to find a much better deal from someone else.

Blunder #2: Choosing your state's minimum coverage requirements
Although you may be tempted to choose the bare minimum coverage amounts required in your state, this could cost you in the long run. Just because you are in compliance with state laws doesn't mean that you're fully protected. If you're underinsured, a major car accident could wreak havoc on your personal finances. Everyone's situation and budget is different, so talk to your financial advisor to discuss how much coverage you need.

Blunder #3: Opting for the lowest car insurance deductible
In the car insurance world, the deductible is the amount of money you'll have to pay out of pocket on car repairs before your insurance company starts covering costs. Many consumers make the mistake of assuming the lowest deductible will save them money. However, this is not always the case.

Generally, if you go with a lower deductible, you'll have to pay a higher premium. In the long run, you may be able to save more money by choosing a high deductible insurance plan with a lower premium. Do your homework to figure out what makes the most sense for your unique situation.

Blunder #4: Choosing car insurance based only on cost
While you should definitely shop around for a great price on car insurance, this isn't the only factor you should consider. As you compare car insurance, look at the various benefits each insurer has to offer. Choose the coverage that best suits your needs and then compare prices.

Blunder #5: Missing out on major discounts
If you're a safe driver or if you insure your car and home with the same company, you may be eligible for a discount. Take some extra time to look into what discounts are available from various insurers. You could save hundreds of dollars this year.

Make sure you're paying the best price for your Colorado Car Insurance with Premier Group Insurance today.