Failing to Properly Calculate Coverage Needs

 Not assessing your specific coverage requirements can lead to either over-insurance or insufficient protection, impacting your financial safety and expenses.

Omitting Information on Insurance Applications

Concealing facts like recent traffic tickets can lead to application rejection or higher premiums, as honesty is crucial for accurate risk assessment.

Not Comparing Quotes

Skipping the comparison of insurance quotes can result in missing out on better rates and coverage, as prices and terms vary significantly among providers.

Neglecting Policy Updates or Renewal

Forgetting to update or renew your insurance policy can lead to lapses in coverage, especially important for changes like adding a new driver.

Choosing Minimum Coverage

Opting for just the bare minimum insurance coverage might not suffice, especially if you have valuable assets or a new car to protect.

Ignoring Eligible Discounts

Many insurers offer discounts for bundling policies, safe driving, or using monitoring systems, and missing out on these can lead to higher premiums.

Not Being Prepared for a New Driver

Inexperienced drivers cost more to insure, so not being ready with appropriate discounts or information can lead to higher rates.

Keeping Secrets from Your Insurance Company

Hiding information such as new drivers or tickets may lead to back-charges or policy cancellation, making honesty the best policy.

Inadequate Underinsured Motorist Protection (UIM)

Not having sufficient UIM coverage can leave you vulnerable to high costs in accidents where the other party is underinsured.

Not Understanding the Importance of GAP and Umbrella Coverage

GAP insurance covers the loan-vehicle value gap in case of total loss, and Umbrella insurance offers additional liability protection beyond standard limits.