At Goshen Group Inc in Glen Carbon, IL, we believe it’s important for customers to understand their insurance policies.

Check out these three facts you may not know about auto insurance!

1. Your State Minimum Requirements Might Not Provide Enough Coverage

One of the most important things to know about auto insurance is that state minimum requirements aren’t always enough. Imagine you are in a multicar accident. Suddenly, you are confronted with a concerning issue. You opted for the minimum coverage amounts, only to learn that the total cost of the accident is significantly higher. 

2. Policy Lapses are Highly Problematic

If you let your auto insurance policy lapse, it can cost you. A lapse in policy means that you don’t have coverage for a period of time. This usually occurs when you don’t pay your premiums on time. 

It’s illegal to drive without liability insurance in Illinois. If you have a vehicle loan, you may get into trouble with your bank as well. Your insurance company can also raise your rate if your policy lapses. 

3. Immediately Change Ownership if You Sell Your Car

You are probably aware that you’ll need to change the title of your car if you choose to sell it. But, you may not realize you also need to remove the vehicle from your insurance policy immediately.

If the car is still on your auto policy and the new owner has an accident, it can lead to a messy situation. Of course, you’ll also want to avoid premiums for a vehicle that you don’t own!  

Reach Out To Us

Looking for auto insurance in Glen Carbon, IL and surrounding communities? Contact us at Goshen Group Inc. We offer auto insurance policies, as well as many other types of insurance to meet all your insurance needs.