If you feel like your insurance rates are too high, cutting the coverage might be one of the options for reducing the rates. However, if you switch to a lower-cost policy, you might not be fully protected. For example, if you have Auto Insurance with liability and collision coverage, switching to liability only will definitely lower your premiums, yet in the event of collision, only the other driver will be protected, while you will have to pay for repairs of your own vehicle out of pocket.
Accidents are stressful. You should not cut your insurance coverage for lower rates, because you might lose necessary protection and encounter high out-of-pocket expenses in the event of a claim. Choosing a policy based only on the price of its premiums may end up being more expensive in the long run. An independent insurance agent at Team Insurance can research several companies to find the best policy with appropriate coverage at a reasonable price.