With petrol prices gaining momentum and expected to remain unbelievably high this summer season, it definitely makes sense to look for other ways to save on automobile-related costs, such as insurance. Getting cheap car insurances is actually as easy as one, two, three.
Currently you may feel that your insurance company or insurance companies in general have all the power when it comes to rate determination, but in actual fact you are the one in the driver’s seat. You control a lot if not all factors that determine insurance costs, from how and what you drive to the type of plan you choose.
Check out my three steps to capping high insurance costs this summer:
Step one- Comparison
It’s a fact like no other that insurance premiums and excesses vary significantly from company to company. It thus pays or rather saves to do a little policy shopping. It is however of utmost importance to keep in mind that the cheapest deal may not always offer the best benefits in terms of coverage. It’s recommended that you look for a combo of good coverage and a great rate. Cheap car insurance is worthless if the policy doesn’t meet your coverage needs or State requirements.
Comparisons are best conducted a major life change is experienced. These events include changes to marital status, child or driver additions, moving home or new car purchasing. Mentioned events have a sure-fire impact on insurance rates you may qualify for.
Step Two- Improve your driving
A good driving record is a great bargaining chip during affordable yet quality insurance shopping. The primary thing insurance companies are interested in is minimizing risk as much as they possibly can, and drivers with clean driving records are generally considered to be a substantially lower risk. You should thus always practice safe and courteous driving.
Step three- Insurance considerations when purchasing a vehicle
Your vehicle’s make and model directly affects your insurance rate. Should you thus be in the market for a new car, it will make sense to do necessary research on the insurance expense associated with the vehicle you’re considering.
Insurance companies give consideration to numerous factors when assigning premiums and excesses to a particular vehicle, including the vehicle model, body type, vehicle class, safety features such as ABS Brakes and if the make and model is a popular target for car thieves.
Once you’ve narrowed down your list of possible cars to only a few candidates, you should contact your current insurer and get quotes for coverage on your list of cars.
Do you need cheap car insurance for young drivers? Many people think that if they are about to add their teen aged child to their auto insurance policy, that the monthly premiums will sky rocket. If you know where to look and the right questions to ask, you can get a very affordable policy for the young driver in your household.
Young people are new to the driving game. Insurance companies have to decide on a certain amount of risk that they can take in order to maintain their profit margin. If your youngster has an accident, the insurance company will have to pay out a reasonable rate for repairs, hospital and physician bills and anything else that is covered by your auto policy.
The bills add up quickly. Insurance companies base their monthly premiums on how much risk you cause their company to have. Young drivers are inexperienced; they’re just learning to drive at this time of their lives. They are still maturing and becoming a safe, grown up driver will take a little time.
Young drivers cause the most accidents as a demographic group. This is the reason that many times, car insurance for young drivers is more expensive. However, there are specialty auto insurance groups that do nothing but cover young drivers or do their primary business covering young drivers. Because they have larger numbers behind them, they can afford to lower their monthly premiums. This may be one place for you to look for lower insurance for the minor drivers in your home.
Another way to get lower prices on auto insurance is to speak to your current auto insurance agent. You may qualify for many kinds of discounts that you were unaware of that existed. The first place to look for a discount is through your current policy because if you are already a customer, chances are you’ll get a discount on your child’s policy. The more policies you have through an insurance company, the more likely you are to get a discount. Ask about multi policy discounts.
Make sure to get discounts for all safety features that the vehicle that your teen will be driving has, as well. Don’t forget to ask about good student discounts, too. Depending on where your child took their driver education courses, you may be able to get a break with policies. Ask about additional courses that your child can take. This can also help lower your monthly premiums and help you get cheap car insurance for young drivers.
This type of auto insurance is no doubt the most expensive. With so many cars financed by finance companies, this is also the most common type of car insurance since most finance companies make this a requirement that a car owner should insure their automobile fully comprehensive.
Fully comprehensive car insurance, and the name suggests insures the owner against all kinds of events, big or small. From a simple accident like scratches and dents to the more extreme like car theft an total wrecks. One advantage that this insurance has is that you don’t have to prove too much to the insurance company in order to make a claim. Let’s take an example. When you get into an accident, say another car bumps you and scratches your car and the owner of the car doesn’t give you his insurance detail of worse, just drives away from the incident, you can still claim insurance from your insurance company. Also if your car is stolen, the fully comprehensive insurance allows you to claim against the insurance company.
As a downside though, you must read your insurance policy very carefully. Most auto insurance companies don’t insure 100% of the value of your car. Most will settle at 80% or somewhere around that area. This is to defend themselves from fraudulent car owners who deliberately take their car into an accident, or claim false thefts to take advantage of their insurance.
Ladies benefit more from car insurance companies as they are considered as much less risky drivers. Though we have to be clear on one thing, statistics show that lady drivers do get into as much accidents as men do. However, the amount of damage done to the car is much less therefore cheaper to repair.
Before, ladies were considered a higher risk than men. It was assumed than men are better drivers and get into car accidents less. Until recent statistics popped up and disproved this theory. Yes there maybe more lady drivers involved in accidents, but these are just minor and seldom result into a total wreck. Minor scratches here and there, little bumps, and some don’t even involve another car but rather immobile objects like posts and walls. Men however, being more risky drivers often induce their car to more damage.
Car insurance for ladies can be found from general car insurance companies or companies which focus on women’s policies. Just like any other product though, it’s always good to compare prices between companies and policies. There are a couple of sites out in the internet which lists a couple of these insurances so the general public can make a good and sound decision
Women as statistics show, drive fewer miles than men and thus the chance of getting into an accident is less likely. This kind of advantage is worth mentioning when looking and haggling for premiums, giving a woman an advantage in most cases. Also with them driving fewer miles, in most cases, their car is in better condition as opposed to those driven by drag racers and reckless drivers.
As with general neatness, ladies are more organized and clean as compared to men. Their cars tend to be cleaner and this results to a longer life for the car resulting in less repairs and cheaper bills.
Ladies car insurance is only for the ladies by the way. They can get cheaper insurance for their cars thanks to the general outlook on women. Overall, women less risky for insurance companies. They are less likely to have an accident, which means they are also less likely to file large monetary claims from the insurance company. If the insurance company can save money, that means you can as well with cheap ladies car insurance.