Auto Insurance vehicle coverage for retirees
Hello Terry We would benefit greatly from some suggestions on auto vehicle coverage, including recommendations for comprehensive/collision
Terry Says
If you are a senior with a good driving record, and drive limited miles (since you are not commuting to work every day), you should get a nice discount on your auto insurance. But if you are on a fixed income, you'll wan to make sure to take a reasonable deductible -- perhaps $500 -- because you probably won't want to risk having premiums increased by reporting a small scrape or dent. You need both collision and comprehensive insurance. The former pays for repairs to your care in case of an accident. The latter pays if something happens to your car, such as a tree limb falling on it (things out of your control as a driver). Comprehensive also covers things like vandalism, and theft -- not only of your car, but from things inside your car, such as luggage for example. And you didn't mention liability insurance, which protects you in case you are sued for your actions while driving the car. Work with your agent (although you could do this online) to get the right package to cover the risks not only to your car, but to your finances in case of a lawsuit resulting from an accident. Here's a link to a nice article describing the above more fully.
