If you have an older car, and the cost of repairing or replacing your car is likely more than the Kelley Blue Book value, then experts like Swan advise waiving both collision and comprehensive coverage. Keep in mind that any coverage you decline on your policy, you'll need to have when renting a car, from Avis or Hertz for example, says Neagle. So, if you decline collision and comprehensive, you should either accept a rental car company's insurance or use a credit card that provides rental car protection just in case . The higher the deductible the lower the premium. Also, uninsured motorist insurance coverage comes into play when an at-fault driver doesn't have enough liability coverage to pay for the damages from an accident.
Most states require drivers to carry uninsured motorist coverage.
Now that you understand the basic parts of a policy, you can save money on premiums by asking your insurance company for a discount. The experts recommend shopping around with several insurance companies to get the best premium rate, especially if you have a clean driving record for the last three years. The longer that you avoid an accident, the better the cost of the insurance. By driving carefully, you're lowering your insurance payment. Finally, car insurance premiums will be higher for cars that are attractive to theft and that suffer extensive damage during a crash.