Many people think that car insurance is a detailed, complex and boring product. The truth is that the more you know the less confusing it becomes, just like anything else in life.
Your vehicle’s make and model is the number one influencing factor on your auto insurance rates. Insurance companies charge higher premiums for that high end luxury model you love so much. Go with something modest and safe if you really want to save the most money.
Beyond the state legal minimums for liability insurance, there are many other insurance options. In the end, the extra expense of some insurance policies may be worth it. Uninsured motorist coverage protects you when you suffer damages to your vehicle or yourself that are caused by an uninsured driver.
Whenever possible only carry one family member per car. This should help keep the premiums low. You will get a lower premium if you only have one name on each car.
When you are shopping for car insurance, get multiple quotes. The rates are not the same for all insurers. To keep your premiums as low as possible, be sure to obtain new quotes at least once per year. Pay attention; however, to the amount of coverage the different quotes are for.
Think twice about spending big bucks for after-market equipment for your car. Heated seats and a great stereo system are nice, but you do not really have to have them. It is possible that in the event of theft or an accident that these additions are not covered by your insurance anyway.
Think about buying an economy sedan and getting rid of your sports car. If you drive a sports car, you can expect to pay a higher policy cost. An every day car is a good way to go. Make sure that you pay attention to engine size, though, as vehicles with larger motors also cost more to insure. Sports cars also cost more for the insurance, because they are stolen more often than other cars.
Do not jump on the cheapest car insurance quote that you get. It may turn out to be a good deal or completely backfire. Make sure your insurance company is reliable before you sign the dotted line.
Insurance rates vary depending on where you reside; if you are considering a move, look into insurance rates. The rates can change depending on if you live in a rural or urban area, and they vary from state to state.
You may be able to drop certain optional features from your automobile insurance policy. If your vehicle is older and not worth a lot, you probably should drop the collision coverage. If you get rid of the insurance, it will save your money. You should also look into the necessity of your comprehensive and liability coverages.
You can also reduce your auto insurance premium by taking out other types of insurance through the same company. Search for these types of offers, especially those that bundle auto and homeowners insurance. Be sure that the bundle provides acceptable coverage as well as a good price. Sometimes it makes better sense to stick with two separate insurance policies.
Insurances companies, as a rule, are all different. Check out competitors, and shop around if you do not like your quote.
Be sure that only the people who actually drive your vehicle are included on your insurance policy. If other drives are on your plan, removing them may save you extra cash on your monthly and yearly premiums.
It is important to factor in the cost of your insurance premiums when you are shopping for a new car. Keep in mind that the safer your car is, the lower your insurance rates will be. Most sports cars are not considered “safer vehicles”. Be sure the premiums for your new car fit comfortably into your budget.
100/200/100 level liability coverage is a good idea if you have an expensive car. Most states require motorists to maintain minimum liability coverage levels. Your policy should meet or exceed those levels.
If you want to get a cheaper car insurance rate, try increasing your FICO score. Auto insurance agencies will go through your credit report. Credit scores can be factored into the cost of your automotive insurance. Poor credit may actually result in a higher premium. If you have good credit, insurance companies will charge you less.
Make sure you know how the company operates and treats customers before you deal with them. Low rates are not the only thing you need to consider. If the premiums being offered by an insurance company seem too good to be true, they probably are. Companies that offer suspiciously cheap rates can be a nightmare to deal with if you ever need to make a claim.
Some insurers offer a “geezer discount” to people who are over 55 years of age and take a course to bone up on their driving skills. In some cases, this could mean saving a cool 10% in insurance premiums.
With a less than perfect record you will pay more, but insurance companies are all different. The are even some insurance companies that concentrate on providing decent coverage for people with driving record problems.
If you don’t drive much, then you are likely eligible for a discounted premium. Generally, you have to drive under 7,500 miles a year to qualify for this discount. If you choose to take the subway to work rather than drive, this could also mean a discount. Ask your agent about it.
Thoroughly check your vehicle’s insurance policy for possible errors. Being accurate can help protect you from claim denials and it can save you a lot. Is your home address listed correctly? What’s the year, make and model of the vehicle? Your premium can be affected by estimated yearly mileage, so make sure that this is part of your policy if your commute to work is short.