Buying car insurance for the first time in Denver, CO can be intimidating. Will you be overcharged? Will you have enough protection? What does your policy actually cover?
Asking yourself the following three questions before deciding on a policy will help you feel confident in your decision.
3 Questions for First Time Car Insurance Buyers
- What type of coverage do I need?
There is no one size fits all car insurance policy. There are several different types of coverage to consider, including:
- Liability Coverage – Minimum coverage that provides protection should you cause an accident, but only for other vehicles and property.
- Comprehensive Coverage – Provides protection from perils such as fallen tree limbs, vandalism, and damages not caused by traditional vehicle collisions.
- Uninsured Driver – Despite Colorado’s requirement for liability insurance, not all drivers oblige. This type of coverage will protect you should an uninsured driver cause an accident and leave you responsible for your own repair and medical costs.
Factors that can affect your final decision include your budget, whether your car is paid off or if you have a loan out on it, and what your car is worth.
- What deductible amount fits into my budget?
Deductibles are the financial amount you’re responsible for before your insurance company picks up the tab (up to your limit). Should you choose a policy with a high deductible, you’ll enjoy paying lower premiums. Not surprisingly, lower deductibles equate to higher premiums. Finding the ideal balance between your deductible and monthly premium costs should be based on your budget and personal preferences.
- Do I qualify for discounts?
Your car’s features could qualify you for a discount, such as security systems, on-board GPS tracking, and anti-lock brakes. A good driving record, even for new drivers, can also save you a bit on your premiums. For more impressive savings, consider bundling policies or looking into family plans.
Buying car insurance in Denver for the first time can be confusing. If you need assistance deciding on your policy, Zzona Insurance can help. Feel free to reach out for more car insurance tips.