Last month we covered a lot of ground on buying and financing a good used car. Once you make that purchase, or even with the car you now own, you need to continue to be a good shopper when it comes to selecting and purchasing your car insurance. Here the five things you might want to consider when you shop for general car insurance.
#5 How Much Should You Pay? When it comes to the cost of auto insurance, there are some factors you can’t control, such as where you live, your age and whether you’re male or female. However, you can control things like your driving record, the type of car you own and how much you drive, which is one of the biggest factors that determines how much you’ll pay. #4 Do You Know Your Vehicle’s History? Did you know that a vehicle involved in an accident is more likely to be in another accident? If you’re planning to buy a car, it’s a good idea to check its Vehicle History Report to make sure that there’s not any pre-existing damage. #3 What Kind of Coverage Do You Need? Basic liability coverage of some sort is almost always required, but many other types of coverage are optional. For instance, if your car is paid off, collision coverage and comprehensive coverage are optional. You may also be able to opt for insurance plans that cover medical payments, a rental car and towing. #2 How Can You Lower Your Premium? If you’re willing to pay a higher deductible on your collision and comprehensive coverage, you can usually lower your insurance costs. And be sure to ask your insurance agent about discounts for things like coverage for multiple vehicles, taking driver education courses and being a good student. You might also be able to get a discount if you have a clean driving record or don’t drive many miles. #1 Where Should You Shop? Whether a friend recommended an insurance agent or you find one online, be sure you get competitive quotes from more than one insurance company. Make sure you give each insurer the same information about you, your car, and your coverage options so that the premium quotes can be easily compared. Conclusion Auto insurance is more than just about your car, it’s also an important personal financial protection tool. There are a lot of variables but with a little extra effort, you can find a policy suited for your needs and your budget.