What Does It Mean to Have Affordable Insurance?

The Catawba River Insurance Group • October 25, 2022

When you think of “ affordable insurance ,” you may think that this is an oxymoron. Insurance prices never seem to be the same when comparing policies, and many policies are confusing to read anyway. If you’ve been looking for insurance and want to make sure it’s something you can afford and gives you the best coverage, there are a few things to know before you dive into a specific plan or policy.

  • Premium – When most people think of affordable insurance, they are looking at the monthly premium to see how much it will cost each month. While this is certainly an important part of choosing insurance based on your income, it isn’t the only price you should look at.
  • Deductible – The second important number to look at when it comes to choosing affordable insurance is the deductible. The deductible is how much you have to pay out of pocket for services before your insurance will pay the rest. For example, if you have an accident and your vehicle goes into the repair shop, you need to know how much you have to pay out of pocket before insurance will cover the rest of the cost. You’ll want to choose a policy with a deductible that is affordable for you if you need to pay it.
  • Coverage – Not all insurance coverage is created equally. It’s important to speak with your insurance advisor to determine what coverages are right for you. For example, if you need a rental car when your car goes into the repair shop because of an accident, that needs to be communicated with your agent so they can add the appropriate coverage to your policy.

As you can see, affordable insurance requires looking at several different details to ensure you get a plan that truly works for you. At The Catawba River Insurance Group, we can help you find the affordable insurance plan that makes sense for your needs and your budget. Call us today to get started!

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