Prof. Pangarkar talks auto insurance with The Ascent by Motley Fool
UW-Green Bay Assistant Prof. discusses auto insurance with Motley Fool: How can shoppers feel more confident when selecting an auto insurance provider? Whether you are a first-time shopper looking at getting a car insurance policy for your new car or you are someone who is looking at switching to a new company, one of the most critical things before you embark on the process of contacting insurance companies is to first do your own research. By this, I refer to gathering information about each driver on the policy (their name, address, license numbers, date of birth, etc.), information about the car (make, model, VIN number, anticipated annual mileage, etc.), and driving history record (tickets, accidents, etc.). Once you collect this information, it is important to look at some of the auto insurance companies you have in mind online and compare them. In particular, shoppers should look at their coverage needs liability which is required by most states, full coverage/comprehensive insurance (important and required if your car is financed), uninsured and underinsured motorist coverage, collision coverage, personal injury protection insurance, etc. Each individual’s situation is different so it is important to evaluate what kind of coverage you need. The next step is to call up auto insurance companies, either captives (working for a single insurance company, for example State Farm), or an independent insurance agent that might represent several companies, or look up third-party comparison websites for insurance policies.