Top Reasons You Should Think About Investing in Additional Insurance

In most states, proof of insurance is required in order to put a car on the road legally. There are a lot of people who find a cheap auto insurance quote and stop looking. Though most people in the United States, will only need to make an accident claim once every 17.9 years, investing in additional car insurance can actually be incredibly beneficial. Here are a few facts you should know about the importance of additional insurance in case you are still on the fence.

The most common auto insurance claims in the United States are fender benders, theft, whiplash, vandalism, windshield damage, back injuries, and animal collision. In the United States, the recommended amount of collision insurance for vehicles is 50,000 dollars though most people have significantly less than that. In spite of the fact that you might be able to get an auto insurance quote online, it might be beneficial to actually visit an insurance agent so that all of the questions you might have are better able to be answered.

Though this might come as a surprise, insuring a previously owned vehicle in the United States can be up to 50 percent less expensive than insuring a new vehicle. While you are looking into buying a new car, you should check into this by finding comprehensive car insurance quotes that can help you to better understand exactly what you are paying for. If the cheapest car insurance quotes are available for a quality used car, you might be able to save yourself a lot of money on both the insurance and the car that you buy.

In spite of the fact that it is not technically required by law, an estimated 95 percent of homes in the United States are covered with homeowners insurance. Quite a lot of banks and lenders require that people who have mortgages with them invest in home owners insurance so that their investment is secure. Although close to 100 percent of homes in the United States are insured, according to FEMA, about 64 percent of those homes are under insured according to their estimated value since a lot of people look for the cheap home owners insurance. The average American home owner spends about 2 percent of their total yearly income on homeowners insurance. If you think that you are not spending this much, you might want to look into supplemental insurance so that you are better covered in case anything happens to your home.

While you are looking into more car and home insurance instead of settling on the cheap auto insurance quotes, you might also want to look into life insurance for for burial expenses and income replacement. An estimated 50 million Americans have inadequate life insurance policies. Though there might be a point where you have more insurance than is strictly necessary or practical, looking into the only cheap auto insurance quotes or cheap home owners insurance will probably not help you in the long run. Find more on this topic here.