Market is flooded with Insurance Agencies and agents trying to under quote each other and get you to buy one or the other kind of Insurance policies. In case of Auto Insurance for Vehicles, the State Legislature of each State stipulates the amount of Insurance Coverage that is required to be taken by the Vehicle Owner before the vehicle hits the road. All Car Dealers and Vehicle show rooms provide the services of Insurance Policy when you take delivery of your vehicle as an add-on service.
Chances are that, you would have paid the premium asked for without looking into the details of the policy or conditions. An auto insurance policy is valid for one year only. Though you might receive a notice or reminder from the insurance company to renew the same, most often this is over looked by the owners in their busy schedule. Often we find the policy lapsing after its annual term and the vehicle is exposed to liability without an insurance cover. Should there be an unfortunate accident, it can get quite messy without an insurance backup and expensive proposition too.
At least at the time of renewal of the insurance, the owners should make it a point to understand little more about insurance as a subject and seek cheap car insurance quotes from many agencies, study and compare them before going ahead.
In many cases, you will find that continuing the policy by renewing the same entitles you to a discount on the premium paid provided no claims have been made against the policy. Not claiming the bonus is offered as an incentive in such cases.
After getting the cheap auto insurance quotes, make sure you check the clauses given in the quote. Your policy premium will depend upon the car make and age. More importantly your insurance would have to cover not only the vehicle damage but third party liability too.
Safeguarding yourself with insurance is the wisest thing to do. Otherwise facing the issues’ in cases of a mishap or accident can be quite a hassle, and you may end up spending money more than the cost of the vehicle besides having to face a harrowing time. The cost of replacement and repair charges can work out very expensive. There would be the other cost of damage to third party property or persons, which may have to be borne by you if decided by the court.
Be sensible, insure your car sensibly.