Are there car insurance policies that are good deals for women? It would be wise to decide what coverages best meet your needs and personal situation before you call several companies for quotes. What should a woman look for when shopping for car insurance? There are several important things to consider.
Do you have personal assets that need protection from a lawsuit?
The liability portion of your insurance policy protects you in the event of a lawsuit for personal injuries and property damage. You could be sued anytime you are responsible for an accident. State requirements in most states are quite low. In Pennsylvania the limits for bodily injury is 15000 per accident and just 5000 for property damage. You should make sure that you have enough property damage liability to cover several cars. If the amount you are responsible for is greater that you policy coverage, you will have to pay the difference or a judgment will be filed against you until you pay it. If someone is injured as a result of an accident you were responsible for, you can be sued for the cost of the medical injury care and pain and suffering. If you policy does not have adequate coverage, your personal assets are at risk to pay. This could include your savings, 401K and even your home.
Do you live alone?
A woman who lives alone will likely have just one vehicle. You vehicle is critical for your transportation to work, and to take care of your personal business and appointments. You should make sure that you have “towing” on your policy in case your vehicle breaks down and “rental” in the event of an accident when your vehicle is not drivable. Keep in mind that you can only purchase these coverages when you also have physical damage coverage for your vehicle.
“Physical damage” is also an important coverage. Just because you pay off the car loan, does not mean that you do not need this coverage. Make sure you check the resale and trade in value of your vehicle and then decide if you can afford to replace it in the event of an accident. If you take this coverage off of your policy, you will not get any settlement for repairs or replacement unless another driver is responsible for the damage.
Do you have a dependable vehicle?
If your vehicle is getting older, it is more likely to breakdown. This would be another reason to make sure that you have towing coverage on your policy but you usually cannot add this to a policy unless you have physical damage coverage on the vehicle.
Once you determine the coverage you need then call agents for the companies that have a good reputation and get quotes for the same coverages with each company. Rates can vary between companies and you may be surprised with the deal you get!