Guide to Automobile Insurance Savings


Your auto insurance premium is not the same as your friend from high school. There are many factors that differentiate you from other drivers of your age, gender and background. If you ever wondered why you are paying less or more than them you should look at the discounts.

Base rates are set by the companies for drivers of similar age group, gender and driving experience. Then, the personal details and circumstances come into play to make yours lower or higher than the average guy. There is no guarantee that you will always get discounts. Sometimes you can get surcharges as well. Actually, you can get discounts and surcharges in the same time.

These topics are disccussed extensively on this auto insurance forum. You either read articles as a guest or become a member. You don’t have to pay for any membership fees on this forum. You can ask questions or read articles. Everybody is welcome regardless of experience or knowledge.

You would try to increase the discounts and avoid surcharges in order to achieve cheap car insurance quotes. Knowing a little about them can prepare you to make the most of them at your next renewal. Here are some of the discounts you can qualify for.

Good Driving History: These are the savings offered for not making claims and picking traffic moving violation tickets. It could be anywhere between ten to forty percent depending on years of no claim and experience as well as the company insuring.

Good Student Discounts: You can start claiming them from the moment you buy your first auto insurance as long as you have good grades at college. A ten percent discount on teenage premiums can mean at least couple of hundred dollars.

Safe Automobile Discounts: A good discount that most people can take advantage of. It is based on the safety features your car have. Some cars are more protective of its passengers and they do not cause as much harm to others in case of accidents. This is one of the discounts you can still have while you are getting surcharges for other reasons.

Good Credit Scores: Having financial stability does affect your premiums. Companies and state authorities agree that there is a relation between financial position and chance of making a claim. Having a great credit score can qualify people for lower rates.

Others: Drivers can get all sorts of discounts for having and not having or for staying or going. You can get either loyalty discounts from some companies for being with them for at least three years or get savings for switching to a new provider. You can save money when you are married or homeowner. You can save money by excluding other drivers from your policy.

If you are finding it tough to find lower premiums you should look at how you can save money on your policy. Even for asking a little relief your agent may dig deeper and find something for you. For example, by paying full premium at once at the start can save you five percent.

Remember that discounts are not offered equally by every auto insurer. While some of them are very generous others may not offer any discounts at all. You should shop around for the best deals all the time. You can get the largest discounts by getting several auto insurance quotes and comparing them.


Insuring Older But Well Looked After Cars Properly


When they are well looked after and maintained some of the older cars can be worth a lot. Some people have special attachment to certain cars and they keep them in pristine condition. Under normal circumstances these automobiles would not be worth even insuring as they are too old to get repaired. However, you may have taken the time and painstakingly restored them to their former glory. Therefore, you need to pay attention when you are insuring an older car.

These cars are not cheap to maintain because it is not easy to find their parts. Regardless of them being a classic or not you like them and they have certain value to you. Unless you point out this fact and prove how much you spent on it auto insurers may not realize or appreciate their worth. They would assume they are not worth much and would not offer a decent settlement for older automobiles. Unless you arrange a special coverage for them based on their agreed value.

Even only several days in a year you may still drive them on the roads. Therefore, you would want state imposed third party liabilities coverage for them. Cars that will be driven on the road regardless of the mileage require public liability cover. Otherwise you will have a problem with DMV and police.

Furthermore, you would want to insure it against collision and comprehensive coverage. Even though they spend most of their time in the garage there is still risk of fire, theft and other damages. Driving only around the block does not guarantee that you will not crash it.

However, you need to keep in mind that there are thousands of old cars similar to yours and they are not worth even thousand dollars. You may have spent several thousand dollars only on the latest updates on it. Therefore, you will need to talk to insurers and get agreed-value auto insurance policy. You and the insurer will need to agree on a set price for it and that would be the amount to be paid if the automobile is ever totalled.

Companies may want to send someone to value it. It is better they are happy with the value you determine before anything happens to it. This arrangement would clarify the question of how much you would receive should something happen to it. Agreed-value policies would allow you to restore them back again. In a normal policy insurers would be keen to total them and pay you only few hundred dollars for it.

Most companies realize that these cars are hardly leaving the garage. They are not kept for day to day driving but for keepsake. So, they may not be expensive to insure the way you want. Talking to various insurers and brokers may offer you much cheaper solutions as well. For example, adding it onto your current regular policy with the agreed-valuation can be a good solution.

In any case remember to keep all the receipts for specific works. You may need them in the future when there may be a claim. Here are a few points to keep in mind when insuring a keepsake or classic car;

  • Seek to get these vehicles insured on “agreed-value” basis as discussed above.
  • Specialist insurers may offer a better and cheaper coverage for these vehicles. Nonetheless do not count on them. Get a few quotes from traditional insurers as well. They are well capable of handling such coverage as long as you make sure they understand what you want.
  • Sometimes policies for these autos may come with low mileage limits like 2,000 miles. Check this out beforehand and make sure they are enough for your purposes.
  • Make sure that you will be allowed to take it to a custom repairer if that is your wish. Special paintwork and parts can cost a lot of money. The insurer needs to understand that. Otherwise, they may keep talking about sending it to an approved garage.