Things You Need To Know About Auto Insurance

State law mandates that you purchase at least the minimum auto insurance package, not only to protect yourself when driving, but to protect other drivers on the road. This leads some people to make hasty decisions with their coverage. Find out what you need to know about auto insurance by reading these tips.

When it comes to car insurance, a good tip is to pick a more affordable choice of car, especially if you have a teenager of driving age in the household. For instance, if you have a choice between a sedan or a sports car, go with the former. Insurance for a sports car is always more expensive.

One way to reduce the cost of your auto insurance is by driving less. Most auto insurance companies offer discounts for drivers that use their vehicles less than 12,000 miles in a year. However, do not be tempted to lie about your mileage, as your auto insurance company might request proof if you need to file an accident claim.

The less you use your car, the lower your insurance rates will be. If you can take the bus or train or ride your bicycle to work every day instead of driving, your insurance company may give you a low-mileage discount. This, and the fact that you will be spending so much less on gas, will save you lots of money every year.

To help save money on car insurance, start with a car that is cheaper to insure. Buying a sporty car with a large V-8 engine can push your annual insurance premium to double what it would be for a smaller, less flashy car with a 4 cylinder engine that saves gas at the same time.

As you get older and maintain a good driving record, you will save money on auto insurance. It’s worth asking your auto insurance company about discounts for experienced drivers — of course, providing you continue to drive safely. The best age for auto insurance rates is between 55 and 70 years of age.

Did you know that a simple feature on your automobile like anti-lock brakes entitles you to an insurance discount? It’s true; the safer your vehicle is, the less you will ultimately have to pay for auto insurance. So when you’re shopping around for a car, spending a little extra for safety features is rewarded in the long run via lower premiums.

Buy an older and cheaper vehicle. Most insurance companies will only allow you to put liability of older vehicles, automatically lowering your premiums. If you do have greater coverage, your rates will be lower anyway, because the insurance company knows you will not be paid much for your car in the event that it is totaled.

As you see with the information above, there are many ways you can save and many ways to cut back on insurance so that you’re not becoming a victim of the insurance company. You can’t be without coverage here; you need to get some type of insurance. So remember to use these tips when you need to purchase a package.

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What you should know about your auto insurance that can really save you a ton of money and a lot of frustration.

When should you make a claim on your auto insurance policy? What should you pay for out of your pocket and not file a claim for?

Do you know what your deductible is? A deductible is the amount of money YOU will be required to pay if YOUR insurance company pays the claim. You pay that amount of the actual repair cost first before your insurance pays the difference.

Having a ,000 deductible and filing a claim on your policy for ,800 you will pay 00 and the insurance company will pay 0. I would NOT file a claim for this if at all possible. The risk to an increase in your premiums is too high for me and I would just pay the ,800 myself and not report it to my insurance company if I could.

Having a ,000 deductible rather than 0 might save you 0-200 a year, and if you are a safe driver with no claims in the past 7 years or so you would save quite a bit over those 7 years. I would put the savings into an “emergency fund” which gains interest and use that money in the case of a claim. If no claims, you have a nice little nest egg to spend on something else.

The purpose of the deductible is to keep you from claiming all little claims/accidents etc. that happen during normal life. Having a 00 deductible will definitely keep you from doing that, right?

Now, if the accident was not your fault and the other insurance company is paying the claim you pay nothing, your deductible is only for your at fault claims for repairing your vehicle.

Want to see if you are getting a good deal on your car insurance premiums?

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4 thoughts on “Things You Need To Know About Auto Insurance

  1. Careful, some auto insurance policies do not cover damage done while you are driving other motor vehicles, such as motorcycles, four wheelers, snowmobiles, or jet skis. Be sure to check your policy to see whether these vehicles are covered before you decide to ride on one, or at the very least, make sure that your health insurance provides coverage to you.

  2. Consider dropping the little extras from your auto insurance policy. Some agents will leave them on your policy, not telling you that you need to sign a form to waive the coverages. Double check that you agreed to everything that is listed on your policy. If you have a separate roadside assistance contract, there is no need to pay for it again on your insurance.

  3. Get the rest of the family on your car insurance plan. Some car insurance providers, offer discounts for more than one plan made with them. Check to see if your provider offers such a discount. If they do, see if you can get other people that are living in your house to all get on a plan together.

  4. Get new quotes on your auto insurance when your situation changes. If you purchase or sell a car, add or subtract teen drivers, or get points added to your license, your insurance premiums change. Since each insurer has a different formula for figuring out your premium, always get new quotes when your situation changes.

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