Make sure that you stay up to date with what is happening in auto insurance. This can help you make decisions that will get you the coverage you need for a price that makes sense. This article provides tips on how to make the best insurance decisions.
Insurance policy coverage is strictly for the driver for whom the policy is written. If you let a friend use your car and they get into an accident, chances are your insurance will not pay. It is possible to obtain insurance that permits additional drivers, though it will be more expensive.
Check insurance rates for different car models before you go car shopping. Insurance agents will be able to advise you on what type of car has low insurance rates. This can be quite helpful to you when it comes to selecting a car, whether new or used. A car with a higher safety rating will save you money in the long run on the lower cost of your insurance premium.
If you can afford it, pay your insurance bill once a year rather than every month. If you pay monthly, there could be a surcharge of between $3 and $5. This small amount has the potential to add up very quickly. This can be troublesome with your other bills. The less payments you have, the better.
To obtain a lower cost insurance policy, it may be to your advantage to relocate to a different area within your state. Insurance premiums are cheaper in some cities and states than others. You could save tons of money on insurance if you decide to move somewhere else.
A great tip for auto insurance is to get 100/200/100 level coverage for liability if you have a good car with a few assets to protect. It is important to have sufficient liability coverage on your car since most states require specific minimum levels.
Consult with your auto insurance broker or agent, and obtain a complete list of discounts available. Take note of ones you qualify for, and try to get those discounts. This will save you the most amount of money possible.
You should check with your insurance company about your coverage limits before you add any aftermarket upgrades. Insurance companies usually will cover only the value these parts add to your car, and that is probably not much.
When you switch to a different insurer, send a written letter to your former insurer to cancel the policy, and keep a written copy as proof. Otherwise, you could accidentally be reported as having your insurance canceled for non-payment when you ignore future bills from your old company. This can affect your credit score and your ability to get insurance in the future.
Review your vehicle’s insurance policy and check for errors. Making sure that your policy is accurate can save you money in the long run. Do they have your address right? Make sure they have the correct year, model, and make of your car. Your yearly mileage plays a big part in determining your rate, so if you don’t drive much, make sure that is reflected in your policy information.
It’s a common belief that sports cars have exponentially higher insurance premiums than economy cars, but that belief need not deter you from purchasing one. Only certain sports cars carry larger premiums. Call your insurer to see what premiums may be on a car you want.
Hopefully with this article, you have learned some knowledge that you can apply to your auto insurance decisions. If you educate yourself, you will be able to make a better decision. As many of these helpful tips can benefit your family members and friends, as well, consider sharing this information with