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Comprehensive insurance covers damage to your vehicle		By increasing your deductible you can reduce your
other than collision, such as fire, flood, break-ins,		insurance rates significantly. Just keep in mind that if
vandalism or theft, vandalism, break-ins, collisions with		your car actually gets damaged you will end up paying
animals, and fire. It also covers natural disasters		this higher deductible to fix the damage. For example, if
like earthquakes, hail, hurricanes and floods (unless the		that dent in your hood costs $1,500 to fix and you have a
vehicle is overturned, in which it's considered a collision).		$1,000 deductible, you'll pay that $1,000 while your
Like collision, comprehensive insurance is usually		insurance company only pays $500. On the flip side, if
required if your car is leased or financed.		your car receives $5,000 worth of damage you will pay
		only $1,000 and your insurance company will pick up the
These coverages are extra and strictly optional features.		remaining $4,000. The amount of your deductible
Rental reimbursement: covers vehicle rentals		depends on what your personal financial status or
required because your car is damaged or stolen;		requirements may be.
Towing and Labor: covers charges in case of a
road breakdown; Auto Replacement: coverage is		Before you sign on the bottom line of your insurance
available that ensures your car will be completely		policy, it's a good idea to have an understanding of the
repaired or replaced, even if these costs exceed it's		basics. Sure, it may look like a simple sheet of paper with
depreciated value. This feature is not always available.		writing on it, but it's a legally-binding document that
		outlines your rights and obligations should you be
		involved in an accident. As a rule, you should always
		read your policy carefully, cover to cover, including the
		dreaded "fine-print." This will prevent any
		surprises in case you need to make a claim.


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Buy when you're young. Although your financial		If you and your family are fortunate enough to enjoy
needs may be lower at a younger age, the rates are also		extended periods of great health, you may want to
substantially cheaper when youre young. Remember,		choose a higher deductible. For example,
the goal is to cover your primary assets (like your salary		increasing it from $500 to $1,000 will significantly reduce
and house) so that if something were to happen to you,		your insurance premium.
your beneficiaries would be able to persevere financially.
The best advice is to lock in as much protection at a		Although common sense, it's important to mention.
young age while your health and prices are still good.		Should your information be somehow incorrect during
		filing, your carrier may refuse benefits altogether (which
Buy the right amount of coverage. Many agents		is definitely not a way to save money).
may try to sell you more coverage than you need. The
purpose of life insurance is to indemnify (replace
financial loss), and what most people should be looking
for is income replacement for their beneficiaries.
Independent financial planners recommend the following
rule of thumb: purchase an amount of coverage equal to
6-10 times your annual gross income.

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