When shopping for insurance, let’s not kid ourselves…we really don’t shop. But auto insurance companies believe that you do; which is why there are so many commercials focusing on catchy jingles and character catch phrases to get consumers’ attention. Moreover, there appears to be an emphasis on price and value.
However, how much value are you actually getting? There’s no coincidence that the latest State Farm commercials want you to think about it. That inspired us to think about what you may not be getting when buying insurance, and what providers may not want you to know. This post will highlight some of those popular omissions.
You can challenge the insurer’s value after a total loss – If you disagree with your insurer’s valuation of your car after it has been determined a complete loss, you can submit additional information to show that it was in better condition than what the insurer has calculated.
You may be entitled to sales tax and registration – Again, if your car is a complete loss, you may be able to recover the amounts you paid in sales tax on the car. Also, every car in Arizona has to be registered, so this may be recoverable as well. After all, everything adds up when you are seeking compensation.
It may cost more to pay in installments – Beware of “fractional premium” fees that may be charged when you choose to pay your premiums monthly. Indeed, they may be as little as $10 for each payment, but over the course of a year, they certainly add up.