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What is Auto
Insurance.....? Auto insurance is a requirement in many states. The minimum requirements, that you must carry, vary from state to state. Auto insurance, like any other insurance, helps to spread the risk of an accident between everyone making it possible to pay for damages that you might incur. By paying premium to a company for coverage, you insure yourself against losses that you would otherwise be responsible to pay yourself. Most people, when they think of Auto Insurance, think about it as insurance to repair their vehicle in the case of an accident. This, however, is just one of the many benefits of having auto insurance. Other benefits can be coverage's which will help to offset the costs of....
You've probably never thought about "how" your insurance rates are determined. However, if you think about it, the rates have to be calculated somehow. So how are the rates figured? Well, for example, the type of car you drive affects your rates significantly. Or what about your driving record, your age, your marital status? Yes, the answers to these questions are all factors in determining the rate you receive... Before you buy.....your car, check into what the insurance on this particular automobile will cost you. Certain car models are rated much higher, either because they are considered risky, they cost a lot to repair in the case of an accident, or thieves prefer them...Owning one of these type automobiles might double your collision and comprehensive premiums. Sports cars, for example, usually cost more to insure. It might help you make up your mind about whether or not to purchase the automobile. Keep Clean....Keeping your record clear and free from tickets and accidents profoundly influences your rate. You will more than likely pay more in premiums if you have been involved in an accident where you were the one at fault or if you have several speeding tickets or other violations. If you have a tarnished record, you could be placed into what is called a "high-risk" category. Play it safe and keep your premiums to a minimum... Get Married.....Although it doesn't always seem fair, married people generally pay lower premiums. Why? Statistically, married drivers have fewer accidents than single drivers. By the way, we aren't suggesting that your insurance premium should be a major factor in your decision to get married... Age is a benefit....Statistically, drivers under age 25 have many more accidents than older drivers. So guess what, they pay more in premiums. Drivers between the ages of 50-65 have much better records and are sometimes offered discounts, but after 65 the number of accidents starts to increase and thus so do the rates... Male or Female? Why does this matter, you might ask. Well, it is again a proven statistic that women, 25 and under, have fewer accidents and are involved in 1/3 the number of fatal accidents. Therefore, guys, guess what? You pay more in premiums... Where you live....Insurance companies evaluate the history of accidents, theft, and vandalism, from location to location. Rates are not only different from state to state but even from zip code to zip code. Thus, people living in large cities typically pay more than drivers in rural areas... The following are suggestions on lowering your cost of insurance: 1. Don't get just one quote....compare the cost of insurance like you would in any major purchase decision. AutoInsurance Network represents over 30 companies. Therefore, when you get a quote from AutoInsurance Network you are in fact comparing over 30 products. We use computer software to give you the "best" rate that we offer. Call today for a free quote.... 2. Consumer Reports...is a great way to find out if your particular automobile is considered a higher risk than others. They can further help you with basic buying decisions in concern to your future car. 3. Increase your deductible...If you increase the amount of your deductible, your insurance premiums will be lower. However, keep in mind that in the case of an accident you will have to pay more out-of-pocket. For example, if you raise your deductible to $1000 or $500, rather than $250, you will lower the cost of your insurance. 4. Check for Discounts...If you qualify for one or more discounts, you may be able to lower your insurance premiums. Not all companies offer discounts, however, and some states do not allow for discounts. 5. Package it...If you buy your auto, homeowners and other insurance from the same company, you will often get a discount for the "package" deal. AutoInsurance Network can provide you with more than just auto insurance... Back to Top |
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