When it comes to the insurance industry, the cost is high, but that’s what consumers expect from the best
Auto insurance is the biggest source of federal income taxes, and it’s still one of the highest in the world.
But it’s also the least regulated, and consumers can be left in the lurch when it comes time to pay their premiums.
Auto insurance companies are subject to many of the same rules as insurers, and that means the companies often charge a higher premium than you’d expect, says Scott McNeil, president of the Insurance Institute for Highway Safety.
For example, some companies will cover certain types of injuries, and others will cover other types of conditions.
So when you sign up for auto insurance, you’ll likely see a sticker saying what kind of coverage is offered.
McNeil says that, in the past, most insurance companies have had little or no transparency about how their policies cover injuries.
McNeill says it’s important for consumers to know what their options are when they buy auto insurance.
“If you’re a first-time driver and you’re not sure if you want to buy auto coverage, I suggest you check out the company website to make sure they cover the kind of injuries that are covered,” McNeil said.
Some insurance companies will also cover some types of accidents, but you should check their coverage carefully before you sign on the dotted line.
“I think it’s very important to look at the terms and conditions of any auto insurance you’re going to be purchasing,” McNeill said.
McHenry said some insurance companies can be deceptive about what’s covered, and McNeil encourages people to call them and ask for a quote to find out what their policies will cover.
If you’re thinking about signing up for an auto policy, McNeil recommends asking your insurance agent to give you a “no questions asked” quote.
The first question you should ask when you’re shopping for a policy is, “What type of accident is covered?”
McNeil also recommends asking if you’ll be covered under any of the auto insurance companies’ policies.
McEnnis says it might seem like a small thing, but it can really make a big difference.
“In the end, it’s your choice to choose whether you want your policy to cover the type of injury or condition that you’re having,” McEnns said.
“That decision really comes down to you.”