As most car owners know, no matter how well they maintain their vehicle there is always the chance something could break and leave them with a significant auto repair bill they may have trouble paying. Whether it is a simple flat tire or something more serious, the chance always exists that something could go wrong, leaving drivers with additional bills they need to pay.
With family budgets always strained, auto insurance quotes may be one area consumers look to save money on their annual costs. Reducing insurance limits, increasing deductibles or dropping some portions of a policy altogether may be options drivers have considered in order to reduce their auto insurance payments.
In this situation, stress may begin to wear on drivers, as, as they may constantly worry about what might happen if they were to get into an accident, and whether they may be able to afford the repair bills associated with a collision.
A better solution than replying on bare-bones auto insurance quotes may be to continue purchasing full auto insurance coverage, but instead compare rates between different providers to find a plan that meets the limits of a household?s budget.
There are many different reputable auto insurance companies which all offer varying rates depending on a variety of factors, meaning drivers may save money on the same exact coverage simply by switching companies. Other auto insurance carriers may provide special discounts which lower the total cost.
Those who choose to drop optional protection like comprehensive insurance may end up leaving themselves in a more difficult situation. Standard policies don?t cover losses caused by theft, vandalism or tree damage, which can leave drivers on the hook for a bill they may not be able to afford.
One recent study found that many consumers might have a significant trouble paying for an unexpected auto repair bill, showing the need for protection. According to the report, completed by AAA, 12 percent of consumers could not afford to pay a car repair bill of $1,000 out of their savings. Others would need to put the bill on a credit card, borrow money from friends or family or find another way to come up with the money.
For a repair bill of $2,000, one in four drivers would be able to afford the payment without financing it or dipping into their retirement funds.
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