“`html

Common Auto Insurance Mistakes and How to Avoid Them

We all make mistakes, but when it comes to auto insurance, some mistakes can be costly. Here are eight common auto insurance mistakes and how you can avoid them.

1. Not Shopping Around

One of the biggest mistakes is not shopping around for auto insurance. The Insurance Information Institute recommends getting quotes from at least three companies to compare coverage and find the best deal.

2. Underestimating Coverage Needs

Buying only the minimum coverage required by your state or lender might not be enough. For example, Texas requires $30,000 in liability coverage per injured person, but this might not cover all costs if you’re at fault in an accident.

3. Overinsuring Your Car

Overestimating your insurance needs can also be costly. If you own an old car, consider dropping comprehensive and collision coverage if the premium cost outweighs the benefits.

4. Overemphasizing the Cost of a Policy

While price is important, it’s not the only factor. Check the reputation of the insurance company and review its customer service track record. Discounts and better customer service can make paying a little extra worthwhile.

5. Overlooking Life Changes

Big life changes, like your teenager getting a driver’s license, should always warrant a call to your insurance company. You might see your premium go down if you get married or move to a lower-crime area.

6. Picking the Wrong Deductible

Choosing a higher deductible to save on premiums can backfire. A higher deductible means more out-of-pocket expenses when you file a claim. Consider your financial situation before opting for a higher deductible.

7. Lying on Your Application

Lying on your insurance application, such as providing a false address, can lead to your policy being canceled, claims being rejected, or even fraud charges. Always provide accurate information.

8. Not Exploring Discounts

Not checking for discounts can mean missing out on savings. Look into discounts for good students, good drivers, multiple vehicles, bundling policies, low mileage, and safety features.

Contact O1ne Mortgage for Your Mortgage Needs

At O1ne Mortgage, we are committed to helping you with all your mortgage needs. Call us at 213-732-3074 to speak with one of our expert loan salespersons today!

“`