Do you have a car loan in Silver Spring, MD? If so, you need full coverage auto insurance.

Here are three big reasons:

1) Reduce Risk for Your Lender

If you have a loan on your car, the lender is the vehicle’s legal owner until you pay the balance in full. That means if your car is totaled or stolen, the lender is out of the money they lent you—and they will want that money back. Full coverage auto insurance protects your lender’s investment and you from paying the entire loan amount if something happens to your vehicle.

2) Get Back on the Road Faster in an Accident

If you’re in an accident and they deem your car a total loss, the insurance company will pay off your loan, and you can get a new loan if you still qualify. Without full coverage, you would have to come up with the money to pay off your loan yourself. That could take months or even years, depending on how much you owe.

A Renee Oliver Insurance Agency Inc. agent can help you find the right policy to get back on the road as soon as possible after an accident in Silver Spring, MD.

3) Stress Less When You’re On the Road

The peace of mind that comes with knowing you’re fully protected is priceless, no matter what happens. When you have full coverage, you can relax and enjoy the ride—without worrying about what could happen.

Full coverage auto insurance is a must if you have a car loan in Silver Spring, MD. It protects your lender and gives you the peace of mind to enjoy your car. Contact Renee Oliver Insurance Agency Inc. today to get started on your policy.