Do you have, or are you thinking about purchasing a new vehicle? If so, you have many things you need to take into consideration, including the cost of insurance and the type of coverage you are going to need. If your vehicle is a newer model, you may want to think about having automobile collision insurance. This way, if you are in an accident, your repair or replacement costs will be taken care of (minus the deductible) no matter who is at fault for the accident. Depending on the amount of damage done, having this type of coverage can really help, and it can save you a lot of money even after you consider the cost of the monthly payments.

Do You Need Automobile Collision Insurance?

Not everyone needs to have this type of coverage. For instance, if you have an older model vehicle, it may not be worth it to pay for automobile collision insurance. On the other hand, if you have a newer model vehicle that would be expensive to repair or replace, it is more than worth it to carry this coverage. Sometimes you may even find yourself in situations where you have no option but to have automobile collision insurance. These situations include:

• Financing: If you have taken out a loan or alternate financing for your vehicle, your lender may require that you have automobile collision insurance for the duration of the loan period.
• Leasing: If you are leasing a vehicle, the leasing company will probably require you to carry this type of insurance coverage until the end of the lease period.
• Renting: If you are using a rental vehicle, you are required to carry insurance. If you do not have your own insurance, you can get it through the rental company.

If you are not renting, leasing or financing your vehicle, it is totally up to you whether or not you want to have automobile collision insurance. In the end, your final decision will probably come down to the cost, and the type of vehicle you own.

Lowering the Cost of Car Insurance

Even though it is a bill that we would rather not pay, we must have insurance, so we might as well try to find every way possible to get the best deals. You can do a lot of things to lower your insurance rates. Being a safe driver is a great way to start. If you have a clean driving record for a certain period of time, you may qualify for a safe driver discount from some insurance companies. Other ways you can save money include:

• Have a higher deductible. If you choose to raise your deductible, your monthly payments won’t be as high. The only drawback to this is that if you do happen to get into an accident, you will have to pay more before you can get any money for vehicle repairs.
• Take driver training classes. These classes teach people how to be defensive drivers, and how to completely understand all of the rules of the road so they can be good drivers. People who have taken these courses are often eligible for insurance discounts.
• Make fewer payments. Many insurers will offer discounts if you pay for six months or a year of coverage up front. If you do decide to cancel your policy later on, the policy will be pro-rated and you will receive a refund for the months that you do not use.
• Only pay for what you need. A lot of insurance agents will try to sell you products that you will never need. Make sure that you are only paying for the coverage you need, including automobile collision insurance if you have chosen to have it.

Who Has the Best Rates?

When you are shopping for automobile collision insurance, you need to shop around, and not buy the first policy from the first insurance company you find. All of the insurance companies out there are in competition with each other, so each one is going to try to entice you with a better deal than the last. When you get quotes from insurers, you can take a look at what they are all offering then decide which company is going to be best suited to your needs. We can get the quotes you need in just a couple of minutes. Just give us your zip code and we’ll search for quotes from insurers in your area.