Car Insurance 101 from Toyota of Newnan
Selecting the right insurance coverage is a balancing act between your finances and protection for potential outcomes. Some of the factors that go into setting your premium price are well within your control. For instance, you know going in that insuring a 2018 Toyota Corolla is going to cost more than insuring a pre-owned vehicle. Other aspects are out of your control, like your current driving record (which technically was in your control previously, but at any given time, just is what it is).
Nevertheless, the biggest factor in determining your premium is undoubtedly which coverages you decide you want to pay for. In all but one state (and not this one) you are legally obligated to have at the very least Liability coverage. This covers damage to other drivers’ vehicles you may cause. After that, you are on your own. While there are quite a few other coverages we could touch on, the ones you really need to know about are Collision and Comprehensive. Both of these provide protection for your property, protection against collisions and effectively everything else respectively.
Setting your Premium
The less coverage you have, the more you’ll have to pay should you have an accident. Then again, if you never have an accident you will have saved a lot of money. The problem is no one knows the future, and most people don’t actually set out to get into accidents. Insurance can be a safety net you’re glad you have, even if you don’t end up needing it.
There’s a lot more to consider before deciding how to insure one of the great cars here at Toyota of Newnan. If you ever need more info on the subject, ask one of our dealers.