The new year is an ideal time to take a step back and evaluate the different areas of your life. One area that many people forget about is their insurance policies, in particular, their car insurance. When it comes to your insurance, best practice is to review your policy every year to ensure you have the coverage you need and that you are getting what you believe you’re paying for.
Car Insurance Rates Are Going Up
In 2020, multiple states are expected to experience car insurance rate changes. Changes in car insurance rates occur regularly for multiple reasons including an increase in accidents, state laws, and increases in the cost of car parts and labor.
One of the most prominent reasons for rate increases over the past few years and looking forward to 2020 is more accidents related to distracted driving. Instead of following the rules of the road, many drivers choose to text, talk on the phone, and use their devices while behind the wheel. Such accidents have cost insurance companies a lot of money and to make up for it they are charging their clients.
Although there is not much you can do about regulated rate increases, it is in your best interest to know when they are coming so you can budget for them.
You Need The Right Car Insurance Coverage
More important than your insurance rates, however, is your insurance coverage. If you get into a car accident, having the right limits of liability can help protect you from lawsuits and other legal actions. A good rule of thumb to follow regarding your car insurance is to have limits of liability greater than the total value of your assets. Medical bills and rehabilitation is the number one reason people pursue a settlement after a car accident. Therefore, carrying medical payments coverage for your passengers helps cover the cost of their medical bills in the case of an accident where you are the driver.
The best way to ensure you have the right coverage is to sit down with your car insurance agent and discuss your policy. Most agents are willing to go over your policy with you line by line and explain the protection you have.
Although it might cost you a few more dollars every month to increase your car insurance coverage, it pales in comparison to what a serious car accident claim could cost you. Don’t let being underinsured be the reason you can’t achieve your dreams and goals in life – review your car insurance before the next decade begins.
Trusted Car Accident Attorneys in New Hampshire
If you are in a car accident and the other party was not properly covered, call the team at Patch & FitzGerald. They are committed to winning you the compensation you deserve. They bring a wealth of knowledge to every case and will help you understand the process so you don’t feel lost.
To schedule a free consultation, call 603-647-2600 or contact our team online today.