Auto-Owners
Auto-Owners Insurance is available in 26 states located primarily in the South and Midwest. It uses an agent-only model that promotes customer relationships, so if you prefer talking to a human being, Auto-Owners is a great choice. The company also scored a nearly perfect score in J.D. Power’s 2015 satisfaction report, falling short only in the realm of its rental car experience.
States Serviced by Auto-Owners:
Alabama, Arizona, Arkansas, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Carolina, North Dakota, Ohio, Pennsylvania, South Carolina, South Dakota, Tennessee, Utah, Virginia, Wisconsin
Choosing the Right Amount of Coverage
Let’s say I live in Florida and cause an accident that injures another person to the tune of $40,000. If I only have the state’s minimum bodily injury protection ($10,000 per person, $20,000 per accident), I’d be responsible for the remaining $30,000. But, if I had purchased more than Florida’s minimum — say $50,000 per person and $100,000 per accident — I wouldn’t have to pay a single dime out of pocket.
Sure,upgraded coverage means a higher monthly premium. But which would you rather do: Pay an extra $80 a month or wind up owing a lump sum of $30,000 out of pocket? It would take an accident-free 30 years to spend the same amount on the extra coverage. And remember: statistically speaking, you are going to get in a wreck every 18 years. Hopefully, it’s nothing more than a fender bender, but if the worst should happen, you’ll appreciate being fully covered.
That’s why it’s incredibly important to understand what type of coverages you need, and how much coverage you need, before you start shopping for a policy. And in the same vein, it’s also crucial to compare rates that include more than your state’s minimum required coverages (which you can find online at your state’s DMV). You do not want to be the victim of a serious accident only to find out after the fact that you’re underinsured.
Below is a comparison of the coverages offered by my top four auto insurance companies, and a breakdown of each type of coverage