When you first start driving, it only makes sense to settle for the bare minimum car insurance. If your car only costs you a few hundred dollars, then liability is really going to be your main concern. When you upgrade to something a fancier ride, on the other hand, you're going to want to protect your investment. So now that you're ready to upgrade your auto insurance, which provisions should you prioritize?
- Collision and Comprehensive Insurance. Without collision and comprehensive coverage, your actual property is not covered in an accident or incident. Liability takes care of other people involved in the accident. But collision and comprehensive cover your end of the equation.
- Replacement Car and Gap Coverage. Collision and comprehensive can help with repairs, it probably won't cover the purchase of a brand new vehicle. Replacement car insurance will help you to buy a new car should yours be totaled in an accident. You may want to consider gap coverage as well, since the replacement car insurance will only cover the new car, and not what you have remaining on your existing car loan.
- Rental Reimbursement. If you need your car for work, then this is a must. Rental reimbursement will ensure that while your car is in the shop, you're covered on paying for a rental car.
With the above-listed coverage, you're pretty much covered on every front when it comes to protecting your investment into your automobile. You may also want to look into other provisions to ensure that you are completely protected against the costs involved in accident. You may also wish to tie up the loose ends with towing and labor coverage, as these costs might be covered as part of your initial payout. Talk it over with your Oklahoma independent insurer and settle on a level of protection that brings you peace of mind.