How to Save Money on Auto Medical Insurance

Purchasing auto insurance can be costly, especially when you have previously been involved in an uninsured accident. There are still several states that do not require their drivers to have auto insurance, but for those states that do require it, there are a few things to consider. Here are a few tips to help you save money particularly on auto medical insurance.

Instructions

Difficulty: Moderately Easy

1. Save money on your auto insurance by making sure you have sufficient medical coverage on the Bodily Injury, Liability, Medical Expense, Personal Injury (PIP) and Uninsured/Underinsured portions of your auto insurance. These coverages protect you, passengers, the other driver and their passengers. Drivers with either no insurance or who do not have sufficient coverage to protect another party will also be protected if they become involved in an auto accident.
2. Consult an insurance agent that specializes in auto insurance to obtain the proper amount of coverage. Pay special attention to the Medical Coverage portion of your auto insurance. This protects you and your passengers in an auto accident. Your insurance agent knows what the state minimum coverages are for auto insurance and will guide you to making sure you have the proper coverage. Individuals with older cars can usually get cheaper auto insurance because of the age of the car. However, use the money you save to keep your medical coverage a bit higher to avoid paying any out-of-pocket medical expenses for yourself or any injured passengers.
3. Reduce the cost of your Medical Coverage, often called Personal Injury Protection (PIP) or in some states No Fault, if you have a good health insurance program where you work. This coverage pays for any injury to you or your passengers regardless of who is at fault. Get the minimum coverage for this portion of your auto insurance if you have good health insurance coverage or have disability insurance.
4. Check your Uninsured/Underinsured insurance policies. This pays for any injuries that occur either when the other driver does not have enough coverage to cover your medical expenses or does not have auto insurance. This portion also covers if the other driver has left the scene of the accident or "hit and run," and there were injuries to you or your passengers from the accident. You will be required to take your state's minimum coverage; however, it is often recommended to take a higher amount to be safe.
5. Get several different auto medical insurance quotes. Find out which insurance company offers you the best deal.

Tips & Warnings

• Check with the state you live in to see what the minimum coverages are for auto insurance, or consult an auto insurance agent.
• When buying a new car, your financing company mandates that you have auto insurance. The finance company often requires that certain coverages be met.