There are millions of cars and trucks out there on the road, and the vast majority have one thing in common. No, not wheels — although that is true! What they have in common is insurance. Almost every vehicle is insured. It’s mandated by law. So when you need insurance, use these tips to get the best deal.
When considering auto insurance for a young driver, be sure to consider your options as far as whether or not to include them on your policy or to get them their own policy. Depending on your current rates and history, it may or may not be beneficial for them to be included on your plan.
When you are looking into car insurance you need to think about things like what kind of vehicle that you have.
If you like the small, sporty cars your premium is going to be higher than if you had something like a truck. That’s because prices are based somewhat on what you paid for the vehicle but also how much it would cost to repair the vehicle. They even look at if it’s the type of vehicle that gets stolen a lot.
Auto insurance for young drivers is very costly. You can save some money by choosing the right kind of car for your teenager to drive. If you allow your teen to drive the Mustang, prepare to pay through the roof. If, on the other hand, you restrict your teen to the most “beater”-like car you own, your premiums will be notably lower.
You should always strive to keep your insurance from lapsing as a means to keep your rates low. It is easy to let your insurance coverage lapse when you are transitioning to a new insurance carrier. Once the insurance company finds out about the gaps, they will raise your rates.
Stay far away from vehicles with the word “sport” included on them.
Anything that goes fast is viewed negatively by insurance companies, as these can influence drivers to take more risks, which in turn costs them more money. Steer clear of sporty vehicles unless you want your premiums to get higher.
If you upgrade your car with aftermarket items like spoilers or a new fender, you may not get the full value back in the case of an accident. Insurance policies only consider the fair market value of your car and the upgrades you made generally do not get considered on a dollar for dollar basis.
Do the math before filing an insurance claim to see if it is worth it. Insurance companies love to raise rates on drivers who file claims, it’s the nature of the industry. Avoid making claims that aren’t going to net you much money back. If you are filing a claim for two hundred dollars, is it really worth the extra premiums you’ll pay in the future?
Don’t allow inferior parts to be used to repair your car, and it will last longer.
Some insurance companies may send you to a repair shop that doesn’t necessarily have your car’s best interests in mind. Make sure that they use parts directly from the manufacturer to ensure a perfect fit and that they meet federal safety standards.
Be extra careful when you drive so as not to be caught in a scam. Insurance rates are as high as they are due to sophisticated staged accidents which are perpetrated by criminals all over the country. Ensure that you photograph any crash scene and call the police immediately to report the accident.
If your car is insured with multiple drivers and one of them stops using the car, notify your insurance company immediately. It is the honest thing to do. More importantly, it can reduce your premiums significantly in many cases. Young drivers, old drivers, and drivers with bad records all boost your premium. Get them removed from your policy as soon as you can.
Check with your auto insurer to find out if registering your spouse as a co-driver can help reduce your premiums.
Many insurance companies offer discounts in such situations. Their reasoning is that married drivers are motivated to drive more cautiously. If your insurer offers such a deal, be sure to take advantage of it.
Consider removing some of the coverage from your insurance policy that you no longer need. One item that may not be necessary is collision insurance. If your vehicle has aged and is of little value, you don’t need this expense. This move may save you a significant amount every month. Furthermore, comprehensive and liability coverage are unnecessary for many people, so determine if they are required for your particular situation.
Insurance is something you need so that you don’t get a ticket and lose your license, of course. But you also need it to protect you financially should you cause or be involved in an accident. Make sure you apply the tips you’ve learned above so that you can save on your next policy.