Car insurance is a big part of the budget for insurance. There are many things that can cause the rates to go up or down. Some of these factors are out of the insured's control, but there are some things they can do to keep their insurance policy affordable without giving up much protection.
What do you have to offer? Do you have a house? Do you have more than one car? Do you run a company? Do you rent an apartment? The value of your assets comes into play when...
Car insurance is a big part of the budget for insurance. There are many things that can cause the rates to go up or down. Some of these factors are out of the insured's control, but there are some things they can do to keep their insurance policy affordable without giving up much protection.
What do you have to offer? Do you have a house? Do you have more than one car? Do you run a company? Do you rent an apartment? When you choose your liability limits, you should think about how strong your assets are. If you hurt or kill someone in a car accident by accident and your car insurance has low liability limits, your assets will be used to pay for the damages.
The Age of the Cars and Trucks Lenders usually need physical damage coverage on newer cars. Older cars that have been driven a lot don't always need physical damage. Depending on the deductible you choose, the rates for physical damage can go up or down.
How Old Are the Drivers? There is a big difference between the rates for adults, adults over 65, and young drivers. It can be very expensive for young people to drive cars with physical damage coverage.
Where are the deals? There are a number of ways to save money on car insurance. Insurance companies offer a discount for people who buy both auto and home insurance from them. Senior adults can get discounts if they are retired. When young drivers take driver's ed, they get discounts. Some companies give good student discounts to young drivers in school who keep their grade point average above 3.0.
Tort or Tort with Limits? In many states, if you choose a limited tort option, you get a discount. Tort means that you have the right to sue for more than just the basic liability settlement. This is different in each state.
This is the big picture that insurance companies use to figure out how much to charge each person. When it comes to liability, physical damage, and tort options, you have a choice. When you buy car insurance, make sure to ask a lot of questions about these three things.
