Car Insurance Considerations
Car insurance is necessary, regardless of how much or how little you drive. There are some issues you need to take into consideration as you look for a car insurance policy.
Make sure you understand what the policy does and does not cover. Does the policy meet your needs? If not, then ask your insurance provider to come up with a new policy quote. While you are required to have car insurance, you also need to make sure the insurance coverage will take care of you in case of an accident or vehicle breakdown.
If you are purchasing a car and will have a loan on the vehicle, full insurance coverage is required. In fact, most banks and lending institutions require proof of insurance as part of the loan contract. You want to make sure you have coverage that will pay off what is owed on the loan in case you have an accident before you can pay off the car loan. Ask your insurance provider for details.
If you own a home or have life insurance, bundle your policies. That means you purchase all your insurance policies from the same provider. This can provide significant savings on all your insurance policies, and it simplifies your life because you are dealing with one insurance provider for all your needs instead of several insurance providers.
Where you live impacts your insurance rates. Car insurance is more expensive in metro areas than in rural areas, especially if you own an expensive car. More expensive cars require more expensive car insurance. You will also want to check your car's safety rating. Safer cars are cheaper to insurance, while flashier models cost more.
Teen drivers who are looking for a new policy under their parents are granted one, but keep in mind the premium is going to stay very high for the first ten years or so. Teen drivers sometimes are awarded a discount by the provider through "good student" discounts. The discount awards teen drivers with good grades a cheaper premium.
Insurance providers also offer many other discounts for senior citizens, veterans, and women. Certain organizations like the AARP, also sometimes qualifies you for a cheaper premium.
Ask around and gather several different insurance quotes. There is going to be a provider willing to offer a cheaper rate than any other. If the coverages are equal or close, you have found a winner!
Regardless of your car insurance needs, contact a qualified insurance provider and have them study your situation. Insurance providers can answer any questions or concerns you might have.
Make sure you understand what the policy does and does not cover. Does the policy meet your needs? If not, then ask your insurance provider to come up with a new policy quote. While you are required to have car insurance, you also need to make sure the insurance coverage will take care of you in case of an accident or vehicle breakdown.
If you are purchasing a car and will have a loan on the vehicle, full insurance coverage is required. In fact, most banks and lending institutions require proof of insurance as part of the loan contract. You want to make sure you have coverage that will pay off what is owed on the loan in case you have an accident before you can pay off the car loan. Ask your insurance provider for details.
If you own a home or have life insurance, bundle your policies. That means you purchase all your insurance policies from the same provider. This can provide significant savings on all your insurance policies, and it simplifies your life because you are dealing with one insurance provider for all your needs instead of several insurance providers.
Where you live impacts your insurance rates. Car insurance is more expensive in metro areas than in rural areas, especially if you own an expensive car. More expensive cars require more expensive car insurance. You will also want to check your car's safety rating. Safer cars are cheaper to insurance, while flashier models cost more.
Teen drivers who are looking for a new policy under their parents are granted one, but keep in mind the premium is going to stay very high for the first ten years or so. Teen drivers sometimes are awarded a discount by the provider through "good student" discounts. The discount awards teen drivers with good grades a cheaper premium.
Insurance providers also offer many other discounts for senior citizens, veterans, and women. Certain organizations like the AARP, also sometimes qualifies you for a cheaper premium.
Ask around and gather several different insurance quotes. There is going to be a provider willing to offer a cheaper rate than any other. If the coverages are equal or close, you have found a winner!
Regardless of your car insurance needs, contact a qualified insurance provider and have them study your situation. Insurance providers can answer any questions or concerns you might have.
About the Author:
Tom Martens is the syndication coordinator Insurance-south-africa.co.za. South Arica's leading Insurance information portal.
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