insurance.

Costly Automobile Insurance Errors

Failure to report an accident or crash ASAP

Crashes and Speeding

Being convicted of driving under the influence

Buying a new or expensive vehicle for a teenager

Having a Low Deductible for Physical Damage Coverage

Driving without insurance

Failing to report an incident in a timely fashion can be devastating. It is extremely important that you report an accident to your insurer ASAP. Your contract states that Failing to comply with this requirement and your other requirements after an accident or loss allows the company to deny your claim!

How much time do you have to report an auto insurance claim? The circumstances of the accident and the legal jurisdiction can also impact the answer to this question. However, if you report an incident within a day you should have no problems.

Although you can file an accident long after 24 to 48 hours have transpired and possibly still be covered, it is not advisable to do so. The longer you wait, the harder it will be to find witnesses and to find witnesses that remember what happened. The physical evidence of the accident may also be compromised if you wait too long to file your claim.

Having an accident or crash or getting points on your license is a great method for raising your insurance premiums. Your car insurance carrier wants to insure safe drivers and will offer lower rates for those who cost them less money in claims and those who are likely to cost them less in claims.

Not only is an accident likely to increase your costs for insurance, it could dramatically reduce the quality of your life if you are hurt seriously. Be a safe driver, pay less and live longer.

A DUI conviction will have a big impact on your auto insurance insurance premiums. How long can a conviction for driving under the influence affect your insurance rates? As long as 10 years! Although the major impact on your rates will be over in 2 or 3 years, you may not qualify for the best rates for as long as 10 years.

How much does a new teenage driver raise automobile insurance premiums? A lot, but the rates will be even higher if you get him or her expensive vehicle that requires physical damage coverage. Sporty fast cars aren't such a good idea either.

If you have a teen driver, make sure that he or she takes an approved drivers education course. Most insurance companies will give you a good discount if your child passes such a course.

Physical damage coverage is also known as collision and comprehensive coverage. Collision and comprehensive insurance are optional if your vehicle isn't financed or leased. These are the part of your coverage that pay you for damage to your auto. Since the absence of these aspects of your policy don't affect payments to others you might get into an accident or crash there are no state mandates regarding them.

If you own your vehicle outright, you can decide to accept the risk that you will need to spend your own money to replace or repair your auto and avoid paying for physical damage coverage.

If you feel that you need some coverage, but want to cut your costs, you can raise your deductible. You can raise your deductible for either the collision section of your policy or the comprehensive section or for both sections. This can go a long way towards lowering your car insurance bills.

Getting caught driving without auto insurance can mean that you are mandated to have your car insurer file an SR-22 on your behalf. This can be expensive.

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Author:. Alston J. Balkcom has been a licensed insurance agent since December of 1985. His health insurance agency services Connecticut residents who do not qualify for health insurance through an employer Go Deeper | Website