Your auto insurance premium can be quite expensive and quite affordable all based on many different factors. But there are a few things that auto insurance companies would prefer that their policyholders not know about. We like to call these secrets. And with secrets, we all know that they don’t make friends. So that’s why we’re here to debunk I show you how you can save money and even protect you from being taken advantage of from your insurer just by knowing these few little secrets.
So goes without saying depending on the vehicle you drive whether it be a 2000 Toyota Tercel or a 2019 Nissan GTR, not all cars will have the same coverage I that too for the same price. So if you’re looking to get a price for your insurance premium just keep in mind the price of your vehicle, the make, model features and size are all taken into consideration when your insurance Premium is given to you. Yes, of course, location age and all these other factors come into play as well but for right now we’re just focusing on these little secrets. So things such as if you’re getting a fast small little car keep in mind did the insurance premium for that is going to be quiet higher and if you’re looking to get a sedan with all the safety features. Another thing that is a huge misconception on the market is the color of your car. This has no implication to how much your insurance will be each month.
Depending on the type of auto insurance coverage you have you can assume that you’re covered for almost everything. But most of the times they do have special coverage is for your belongings inside the vehicle. So suppose you got into an accident and your phone and other personal items have been damaged, don’t expect them to be replaced. You’ll have to opt-in for a special insurance policy to make sure that these things are replaced at the time of the accident.
So you looking to shop around for a new insurance policy, but you already have one with a different company. So what exactly do you do? Well, it is your responsibility to make sure that you call your previous insurance provider and cancel with them before you knew and starts. If you fail to do so you may end up paying for two insurance premiums each month.
In today’s society, your credit follows you. So when you sign up for auto insurance it’s more than likely that they’re going to issue a credit check against you. This way they can calculate your insurance premiums. The reason I do this is that your credit score is a good measure to determine whether or not you’d be filing a claim, and also your ability to pay your insurance premiums as a long-term customer.
A quick and easy way to save money is to pay your insurance premium up front. Usually, insurance companies give you a break on the amount you will have to pay. If you are paying in monthly installments keep in mind that they can add up quickly simply because you don’t have a discount on it for paying in a onetime fee.
One thing that goes unnoticed too many drivers is the fact that they share their vehicle. It may seem that they’re doing a great help to the person they’re lending it to, but in reality, it can be a terrible experience if things go wrong. Just because you’re not the one driving the vehicle does not mean you’re exempt from any insurance claims. Suppose you got a friend or a family member drive your vehicle and they get into an accident, who’s at fault? Well if they get into an accident you’ll have to file a claim through your insurance company and worse if there are faults your insurance premiums may go up. So before we even lent your vehicle to anybody just make sure that they’re on your insurance policy or invite them to get their own before they drive your vehicle.
One thing you have to keep a note of is that when an insurance company gives you your auto insurance premium, everyone in your household is accounted for. That’s because your insurance company assumes that everyone in the house will be driving your vehicle at one point. So when you’re given an insurance premium everyone in that household is accounted for. So that means you as a primary driver is given a quote but that quote also has your brother your sister your mom and your dad included as well. That may seem like a great opportunity simply because everyone’s covered, but if there’s somebody in your household that had a driving infraction your insurance premiums may go up. So if you’re looking to just have insurance for yourself you will need to have any driver in your household excluded from your policy.
Policyholders get confused about the fact that they can change your insurance policy whenever they want. Suppose you signed an annual contract with your insurance company and you found a better rate with another one, you can actually cancel with your current company and go to the next one. A little bit confusing I know. But just know that you can switch whenever you’d like. And in most cases, your insurance company would reimburse you for the remaining months of your turn. The only thing we asked you to keep in mind is to make sure that you don’t have your insurance policy lapse if that’s the case that’s a bad thing.
Your auto insurance company have discounts for teenage drivers. But don’t be fooled by it, we say this because technically you don’t have to add a teenage driver on to your insurance policy. If they’re living at home and they only have a learner’s permit you won’t have to modify your insurance policy at all. They can drive your vehicle as a please as long as you abide by the permit.
So suppose you were in an accident and you get a payout. If you own your vehicle and if a check is in your name you technically don’t have to use that money for repairs. You can pocket that money if your vehicles in good condition. The only time we are unable to do this is if you’re leasing a vehicle or your financing it or if the check is made out to repair company or the leasing company.
These are some little gold and gems you can keep in mind when you’re shopping around for your auto insurance policy. We hope this information was quite beneficial to you I can help you on your journey for finding the right insurance premium.