So your agent said you could save money by lowering underinsured coverage?
9/25/2009 4:00:00 AM
I am often asked "What is the best way to lower my auto insurance premiums?" My number one response is to shop around - specifically let my agency shop dozens of companies for you.
But for this post I thought I would also share one way you should NEVER try to save a few bucks... do not, no matter what your current agent says, lower or remove your underinsured motorist coverage.
Underinsured coverage serves a very specific purpose. If you are in an accident like the one above and are the car in front you will be very happy to have the right amount of underinsured coverage.
You see, about 50% of all drivers in our state have NO auto insurance coverage or only carry the state minimums. The odds of their policy protecting you if they hit you are very slim.
Besides, by dropping the coverage or reducing your protection you are only going to save a dollar to two per month. Not at all worth the exposure.
If you really want to save on you auto insurance premiums, let one of my agents shop for you. That is all you need to do.
