I’m a Millennial—What Should I Know About Car Insurance?

If you own a car, one of the biggest choices you’ll have to make is selecting car insurance. Some plans are much cheaper than other plans. However, they often don’t provide as much coverage. If you get into an accident or another major event, you may not be covered and may be out a lot of money.

Before signing up for insurance, you should use a car insurance aggregator site to compare rates and coverage.

These days, you can often sign up for car insurance online. You don’t have to get on the phone or visit someone’s office. This makes the whole process much easier and typically quicker too. You’ll still have to fill out a car insurance application form, but you can do that online now.

If you own a home, you may also be able to get your car insurance and home insurance together through the same company. The right car house insurance companies can help you save on both auto and home insurance. This may help you keep your car insurance a month’s cost low.

You can get car insurance for many different types of vehicles, including recreational vehicles, work trucks, collectors and unique vehicles, electric cars, and more.

Millennials are those who were born between the years 1981 and 1996. Generally, they are seen as more “entitled” (not necessarily true!) and incredibly tech-savvy. One other aspect of life that Millennials are known for are their slower starts to life, meaning, they tend to start “adulting” later on in life than in generations before (marriage, children, college, etc.). According to the Pew Research Center, “As is well documented, many of Millennials’ life choices, future earnings and entrance to adulthood have been shaped by this recession in a way that may not be the case for their younger counterparts. The long-term effects of this “slow start” for Millennials will be a factor in American society for decades.”

One aspect to growing up and having responsibility is purchasing a car and therefore automobile insurance. However, for many millennials, the question of its importance is a serious one. Millennials are looking for insurance that is less expensive and easy to obtain via the internet (no having to sit on the phone with an agent, but rather just via an app!). However, for those wondering why autmobile insurance is so important what aspects to think about when buying it, we’ve put together this little guide.

1. Uninsured Motorist Coverage

This part of your coverage comes into play in the event that you are ever struck by a hit-and-run driver. If someone runs into you and they drive off, or you get into an accident with someone who doesn’t have insurance, your OWN insurance will kick in and offer come assistance. It covers medical bills, pain-and-suffering costs, and funeral costs in the event that there are fatalities that occur from the accident.

2. Collision Coverage

If you get into an accident, this part of your coverage helps you get your car repaired. If the repairs are more than what your car is worth, you’ll probably just get the money for the value of the car, and then you can go out and get a new one. This kind of automobile insurance is very important for those who have a brand new car.

3. Bodily Injury Liability Coverage

In the event that you’re in an accident and you end up hurting someone else, this insurance will help cover THEIR expenses (medical treatment, legal fees, etc.) and covers your passengers, as well as the driver and passengers in the other car. This is a very important aspect of auto insurance to have when looking at quotes and coverage.

Automobile insurance in very important to have, no matter what age you are. It tends to be more expensive for your younger people because of the increased risk they are associated with for getting into car accidents. You’ll be surprised to know what your car insurance can do for you. Rest assured that you can find insurance companies willing to offer you a quote without having to ever leave the comfort of your avocado toast and Netflix.

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