Most of us can't even begin to understand the legal language in our car insurance policy. The declarations page is where you can find the most important parts of your car insurance policy. You get this page when your policy is renewed. Car insurance companies are always trying to get the customers of the other companies. Actuaries and underwriters are used by every car insurance company to help figure out rates.
Getting a rating Whether you like it or not, your neighbours and friends in your community help decide the...
Most of us can't even begin to understand the legal language in our car insurance policy. The declarations page is where you can find the most important parts of your car insurance policy. You get this page when your policy is renewed. Car insurance companies are always trying to get the customers of the other companies. Actuaries and underwriters are used by every car insurance company to help figure out rates.
Getting a rating Whether you like it or not, the rates in your area are partly set by the people who live around you. The insurance companies use the term "rating territories" to talk about these areas. Your rates will be higher if there are a lot of thefts and fires in your area. Also true is the opposite.
Insurance for liability When you cause an accident and are found to be at fault, liability insurance protects you. This is good protection for you because it covers you against the biggest risk and financial loss. Death and injury liability claims are by far the most common. Don't shortchange yourself in this area.
Insurance for physical damage This part of your auto insurance policy is about your cars. Buying this coverage with high deductibles is a good way to self-insure in this area. Low deductibles no longer make high premiums worth it for the protection they give. Over the life of a policy, having a high deductible will save you thousands of dollars.
Discounts on car insurance Car insurance discounts are available for things like air bags, seat belts, anti-lock brakes, and anti-theft devices. Senior drivers can get discounts when they retire. Discounts are given to young drivers who have taken driver training classes. Some companies give discounts to young drivers with a 3.0 grade point average who are good students.
When shopping for car insurance, it's also important to have certain facts on hand. The VIN number for each car, the driver's licence number for each driver, and information about your current insurance will make shopping easier.
