subject: Car Insurance For A Newbie [print this page] Wouldn"t it be great if we all had someone to just do all our difficult work for us? If wishes were horses"
Car insurance is one such thing that often leaves people flummoxed. How do you start? WHERE do you start? What coverage do you need? How do you save a few bucks on your premium? What happens AFTER you buy insurance?
Knowing what to do might not always be as easy, but it doesn"t have to be so hard. And we are going to show you how.
Auto insurance is not optional
You might think you could save some money by not buying car insurance, but you should know that auto insurance is required by law in most states in the US. If you own a car, you must have auto insurance. So it"s a good idea to visit your local DMV to find out the state"s requirements about how much auto insurance coverage you need to maintain.
Save some money by shopping around
When looking for car insurance quotes online, you should keep in mind that rates can vary by hundreds of dollars between insurance companies, which is why people are encouraged to get quotes from at least 3-4 carriers so that you can compare the rates and make sure you get the best deal.
Factors that can influence your rates
Several factors can influence your insurance rates. Some of the most common factors are driver"s age, driving experience, driving record, credit history, the state you live in, the neighborhood you live in, the model of the car and the anti-theft and safety devices installed on the car. It is in your best interest to keep copies of your documents with you and make sure they"re all current and up-to-date before you start shopping for insurance.
The kind of coverage you need
As mentioned earlier, your state decides the minimum coverage you must carry on your vehicle, but these are just the most basic and might not be adequate. In order to identify the kind of coverage you need, it"s best to understand the different kinds of coverage (comprehensive, collision, uninsured/underinsure motorist, bodily injury protection, property damage liability etc) offered by insurance companies.
Once you decide on the kind of coverage you want, you get to choose the amount of deductible. This is the amount of money that you pay up front in the event of an accident. Always keep in mind that the higher the deductible, the lower will be the premium that you pay.
Save some money on discounts
Once you"ve narrowed down your choices of potential insurance providers, ask them about the different kinds of discounts that they offer. Some of the most commonly offered discounts are:
"Defensive driver discount
"Multi-car discount
"Bundling home and auto insurance discount
"Installation of safety devices
"Good grade discount
Once you buy your policy
Buying auto insurance doesn"t just end with signing the documents. Once you buy your policy, you should make it a point to review it annually, just to make sure it"s fits your current situation. Certain life changes like getting married, having children, getting divorced, retiring etc, affect your premium rates so it"s important to keep an eye for them and report them to your provider.
Car insurance doesn"t have to be tricky business. Hopefully, with this article you"ll be able to make better informed decisions about your insurance.
by: Bethany Collins
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