Add-on Coverage Options That Can Reduce Your Auto Insurance Rates

For many people, shopping for auto insurance can be frustrating at times. There are so many variables to consider in regards to calculating your premium. As you look for ways to reduce your auto insurance rates, consider these car insurance extras.

Auto Insurance Benefits

Many people opt for full coverage auto insurance policies. Full coverage car insurance policies are made up of multiple benefits. Liability coverage protects you if you cause damages in an accident or somebody gets hurt. If there are injuries, personal injury protection covers the medical bills. Collision coverage protects you if you are involved in an accident and your vehicle sustains damage. If the other driver does not have insurance, uninsured motorist coverage will cover you in that situation. Comprehensive coverage protects your vehicle if it’s stolen or vandalized. If your vehicle is leased or financed, you may be obligated by your lender to purchase some form of collision, comprehensive, and liability coverage.

Optional Coverage

If you have full coverage on your vehicle, you can adjust your policy based on your needs. Some of these car insurance extras can help lower your premium.

Gap Insurance

Assess your auto insurance. There will be a point in the future where your vehicle will be worth less than the amount you are still paying on it.  If you are involved in an accident, insurance covers the lender’s value, but you’ll have to pay the difference out of pocket. Gap insurance takes care of the difference, protecting you from going into debt.

Roadside Assistance

Roadside assistance protects you in emergencies. Imagine traveling away from home, and suddenly you get a flat tire or start having engine trouble. Roadside assistance will protect you in such cases.

Customized Equipment Insurance

If you have made a lot of upgrades to your vehicle, customized equipment insurance covers your new additions if they are damaged. You are protected whether the items need to be repaired or replaced.

Mechanical Breakdown Insurance

Mechanical breakdown coverage is similar to an extended warranty. You are covered if your vehicle experiences unique mechanical breakdowns. However, be aware that your vehicle has to meet a specific age range and mileage limit in order for you to obtain coverage.

Rideshare Driving Insurance

If you work for a rideshare service such as Uber or Lyft, you are vulnerable when you log into the app but haven’t accepted a trip request. If you are involved in an accident during this open period, you may not be protected by your rideshare company or your personal car insurance. Rideshare insurance protects you in this situation so that you can have peace of mind.

Other Things to Consider

Adding coverage will increase your premium. While researching extra coverage, calculate the annual cost of the coverage against the likelihood of something happening while you aren’t protected. Before deciding to add extra coverage, look over the terms of your policy. You must have a clear idea of what the specialized coverage entails. Consult with your insurance agent and assess your options.

Consult with J. Archer Insurance Group

Tailoring your car insurance policy to meet your individual needs can help you save money. Evaluate the pros and cons of adding some car insurance extras to your policy. In most cases, adding extras could help you save money in the long run. If you have any questions, talk to our experts here at J. Archer Insurance Group today.

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