4 Add-Ons to Ask Your Insurance Agent About
When it comes to taking care of your vehicle and your life, you will want to consider what add-ons you want to add to your auto insurance policy. Add-ons are designed to enhance your coverage. The type of add-ons you need depends upon your specific situation. Here are a few add-ons you should talk to your insurance agent about.
When you purchase a new vehicle, often, your vehicle depreciates at a faster rate than you can pay it off. There is a good chance that at some point during the time when you are paying off your car loan, you are going to owe more on your vehicle than it is worth. Get into an accident when you owe more than your car is worth, with regular insurance. Your insurance company will only pay you the current value of your vehicle after you pay your deductible, leaving you with a car loan to pay off for a totaled vehicle.
When you get gap insurance, your insurance company will make sure you have enough money to pay off your car loan, even if your loan is greater than the value of your vehicle. You only need this insurance when you are paying off your car loan.
A great add-on to get is a vanishing deductible. A deductible is what you pay when you get into an accident, and you end up using your collision and comprehensive coverage. With a vanishing deductible, the longer you go without making a claim, the smaller your deductible comes without increasing your premium. Over time, you will get to the point where you don't have a deductible, so if you end up having to make a claim eventually, you will not have to pay a deductible.
You never know what will happen to you, so you should have a roadside assistance program in place. With a roadside assistance plan, you can get access to services such as tire replacement, fuel delivery, and towing services at no extra cost because you already paid for the benefit with your insurance.
You may be a great driver, but you will never get into a car accident. Car accidents happen, so it is excellent to pay for accident forgiveness. When you pay for accident forgiveness, your insurance premium will not increase. If you end up in an accident, your insurance premium will not increase.
When it comes to protecting yourself and your vehicle, there are lots of different add-ons that you can include with your auto insurance policy. Talk to your insurance agent to figure out what add-ons are worth it for your specific situation.