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Mistake #1: Not fully understanding your coverage
Why we make it

To simplify this, the lack of research and fact finding creates issues. Don’t buy coverage you don’t need. Even worse, don’t accidentally skimp on coverage you do need. At the Jerry Hallman Insurance Agency, our exopertise means simplicity of choice. 
What we should do instead

Don't be shy about reaching out to a company representative for help during your decision-making process. They'll be able to help you figure out how much coverage you should buy.
Mistake #2: Failing to shop around
Why we make it

Laziness is probably responsible for some of this. It's also easy to assume that ‘all insurance companies are the same,’ or ‘all similar car insurance policies cost the same.’
What we should do instead

Check out the rates of at least three or four companies before you make a decision. Each of them may offer similar policies or services, but they're unlikely to be identical.

Each carrier can charge very different rates for identical coverage. Even if you already have car insurance, you should still shop around. Many experts will suggest that you compare multiple competing quotes when your policy is up for renewal, rather than automatically renewing. Not shopping around is a costly mistake.
Mistake #3: Assuming you’re covered
Why we make it

"Full coverage" is a vague term. Some folks think that sending a check to Allstate or Geico means they're protected from anything that may happen to their cars.
What we should do instead

Here's another situation where it pays to have a conversation with your insurance company. They can identify gaps in your coverage. They can lay out scenarios where you will need more coverage. Be selective in the coverage amounts you purchase, and only go for what you decide is sufficient coverage.
Mistake #4: Buying just the minimum amount of liability coverage required in your state
Why we make it

Who wants to spend more than they have to on anything these days? It shouldn't be surprising that a lot of people who want to keep their car insurance premiums low opt for minimum liability coverage.
What we should do instead

Do a bit of research and talk with your agent about your coverage. If you rear-end a pricey car like a BMW, a minimum coverage policy probably won’t come close to covering the damage.Note: to learn more about why buying the minimum amount of auto insurance usually is a bad idea, read our article, "Why Legal Minimum Car Insurance is Not Enough."

Not considering policy add-ons or extras

Mistake #5: Not considering policy add-ons or extras
Why we make it

Again, this mostly has to do with buying just the minimum coverage. For example, you might assume that you’re entitled to a loaner car if your car is totaled. Or that your insurance will pay for you hospital bills if you get injured in an accident. That’s not always the case.
What we should do instead

Look at all documents related to your policy. Carefully review and consider any add-ons or extras offered. If you have questions about them, don't be afraid to ask.
Mistake #6: Focusing only on price
Why we make it

Too often we focus only on how much a car insurance policy will cost. One company might offer a better price for minimum coverage. Another may have a better price for higher coverage amounts. But price doesn’t tell the whole story.
What we should do insteadLook at the big picture and examine the various car insurance products in front of you. Price should certainly be part of your calculations. But so should the types of coverage, benefit levels and limits, and even the reputations and claims histories of the companies.

Not considering policy add-ons or extras

Choosing a deductible that's too low

Choosing a deductible that's too low

Mistake #7: Choosing a deductible that's too low
Why we make it

Most of us choose a low deductible because we want to avoid paying too much out of pocket after a crash. But that always leads to higher monthly premiums. The difference between $500 versus $1,000 out of pocket after an accident isn’t substantial. But you could end up saving money in the long term with a higher deductible.
What we should do instead

Put some thought into choosing your deductible. Give some serious thought to going with a higher deductible, especially if you have a history of driving safely. Get quotes for identical policies with both low and high deductibles. Then do some math. How much extra are you paying per year for a low deductible? How many years does it take for extra premium to match the difference in deductibles?

According to Kiplinger, increasing your deductible from $200 to $1,000 could cut as much as 40 percent from your car insurance bill. Doing this also will increase your out-of-pocket expenses if you have a claim. If you shift all or most of those savings to some sort of emergency fund, you should be able to minimize any issues.

Most of us choose a low deductible because...

Most of us choose a low deductible because...

Most of us choose a low deductible because we want to avoid paying too much out of pocket after a crash. But that always leads to higher monthly premiums. The difference between $500 versus $1,000 out of pocket after an accident isn’t substantial. But you could end up saving money in the long term with a higher deductible.
What we should do instead...

Put some thought into choosing your deductible.

Put some thought into choosing your deductible.

Put some thought into choosing your deductible. Give some serious thought to going with a higher deductible, especially if you have a history of driving safely. Get quotes for identical policies with both low and high deductibles. Then do some math. How much extra are you paying per year for a low deductible? How many years does it take for extra premium to match the difference in deductibles?

According to Kiplinger, increasing your deductible from $200 to $1,000 could cut as much as 40 percent from your car insurance bill. Doing this also will increase your out-of-pocket expenses if you have a claim. If you shift all or most of those savings to some sort of emergency fund, you should be able to minimize any issues.

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WE ARE HAPPY TO TAKE CALLS 24/7,  WE  ANSWER DURING BUSINESS HOURS  & SOMETIMES IN THE EVENING. HOWEVER, WE WILL CALL YOU BACK FIRST THING IN THE MORNING OR WHEN YOU REQUEST. THANK YOU. . . .

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Jerry Hallman Insurance Agency, Inc.

877-210-7456 (Toll Free)
253-272-1843 (Office)
253-830-5765
1712 6TH AVE, STE 200
Tacoma, WA 98405
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Mon       8:30 am - 6:30 pm     
Tue        8:30 am - 6:30 pm     
Wed       8:30 am - 6:30 pm     
Thu        8:30 am - 6:30 pm     
Fri          8:30 am - 6:30 pm       

Sat & Sun by apt. only / Closed

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Jerry Hallman Insurance Agency, Inc.
1712 6TH AVE, STE 200
Tacoma, WA 98405
253-272-1843 (Office)
253-830-5765 (fax)
877-210-7456 (Toll Free)
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