Tips For Structuring Affordable Auto Insurance
Although the specific insurance laws differ from state to state, all drivers in the United States are legally bound to purchase and maintain an auto liability coverage policy.
People who have loans on their vehicles will be required by their lender to have not only liability but full coverage, including comprehensive and collision protection.
Auto coverage can be a significant expense, so it is important to be aware of how to keep the cost down while at the same time maintaining adequate coverage.
When getting a quote online, or even from a local agent, it is important to look closely at what features are being included in the policy.
A basic auto policy is bodily injury and property damage liability protection.
This is for bodily injury and property damage that the driver causes and is legally responsible for.
These coverages are mandatory.
Features like uninsured motorist, no fault medical, towing and labor and rental car are optional and completely within the customers control.
Medical and uninsured motorist in particular can make the policy much more expensive especially for younger drivers or for drivers with tickets and accidents in the past three years.
For those drivers who do have multiple accidents and tickets within the past three years, the choices are a bit more limited.
The rate for a driver with at fault accidents in the past 36 months is dramatically higher than for a driver with a clean record.
The majority of the standard insurance companies will pull a motor vehicle report, so for drivers with accidents, it makes sense to use a non standard carrier.
The non standard auto companies will not pull a motor vehicle report.
When the accidents are not factored into the rating, the price at the non standard carrier for these drivers is well below the standard price.
All insurance companies have a variety of discounts that they can give.
Some of the most common are the multiple vehicle discount, discounts for setting up the monthly payment on electronic draft, discounts for paying six months at a time, discounts for defensive driving classes and discounts for package deals including other lines of insurance such as a house or a life policy.
These are all standard discounts that can be taken advantage of.
A final important discount that can also greatly reduce the price is the good student discount.
Students who have a 3.
0 grade average or better qualify.
People who have loans on their vehicles will be required by their lender to have not only liability but full coverage, including comprehensive and collision protection.
Auto coverage can be a significant expense, so it is important to be aware of how to keep the cost down while at the same time maintaining adequate coverage.
When getting a quote online, or even from a local agent, it is important to look closely at what features are being included in the policy.
A basic auto policy is bodily injury and property damage liability protection.
This is for bodily injury and property damage that the driver causes and is legally responsible for.
These coverages are mandatory.
Features like uninsured motorist, no fault medical, towing and labor and rental car are optional and completely within the customers control.
Medical and uninsured motorist in particular can make the policy much more expensive especially for younger drivers or for drivers with tickets and accidents in the past three years.
For those drivers who do have multiple accidents and tickets within the past three years, the choices are a bit more limited.
The rate for a driver with at fault accidents in the past 36 months is dramatically higher than for a driver with a clean record.
The majority of the standard insurance companies will pull a motor vehicle report, so for drivers with accidents, it makes sense to use a non standard carrier.
The non standard auto companies will not pull a motor vehicle report.
When the accidents are not factored into the rating, the price at the non standard carrier for these drivers is well below the standard price.
All insurance companies have a variety of discounts that they can give.
Some of the most common are the multiple vehicle discount, discounts for setting up the monthly payment on electronic draft, discounts for paying six months at a time, discounts for defensive driving classes and discounts for package deals including other lines of insurance such as a house or a life policy.
These are all standard discounts that can be taken advantage of.
A final important discount that can also greatly reduce the price is the good student discount.
Students who have a 3.
0 grade average or better qualify.
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