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reply to this When searching for auto insurance people often search for the lowest cost premium. This strategy can backfire in several ways such as
reply to this When searching for auto insurance people often search for the lowest cost premium. This strategy can backfire in several ways such as inadequate coverage, high deductibles, poor customer services and an increased risk to the financial stability of the insured. Choosing the lowest costing insurance premium can result in lacking coverage. Often a low premium often results in a high deductible which can be difficult for the insured to pay. Insurance providers often sacrifice perks or attributes to provide lower monthly premiums. This can lead to inadequate and poor customer service. Although a low monthly premium can be beneficial at the time the lacking coverage can result in a heavy financial burden in the case of an accident. In the event of an accident with lacking coverage can lead to the insured large out of pocket cost. This out-of-pocket cost can risk the financial stability of the insured. The lack of transportation, and bills can negatively financially impact someone's life. In some cases, a low insurance premium is canceled or not renewed. Personally, I learned from an unfortunate experience that choosing a low monthly insurance premium is not beneficial due to lacking coverage. Being involved in an
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