1. Compare Auto Insurance Companies and Coverage
One way to save on auto insurance is to compare several agencies to see what they offer. Compare the types of coverage, the actual benefits of the coverage (should you ever need to make a claim), and the pricing for each policy. Insurance policies can vary greatly in price, so shopping around will help you find a policy that fits your budget and needs. If you’re classified as a safe driver, you can use this to your advantage as you compare car insurance offers. Hint: The cheapest car insurance is not always best, so check out the company and its history thoroughly before agreeing to a policy.
2. Opt for a Higher Deductible
Most car insurance agencies will offer lower premiums if you opt for a higher deductible. The deductible is a set amount you agree to pay before making an insurance claim. This could be $250, $500, or even $750 or higher. If you agree to the higher deductible, your premium will likely be as much as 15 to 30 percent less.
3. Cancel Collision Coverage on Older Vehicles
If you have an older vehicle, insurance can cost more than the car is worth. You are not required by law to keep collision on an older vehicle as long as you don’t owe a debt on the car through a lending institution.
4. Avoid Buying Sports Cars
If you’re in the market for a new or used vehicle, buy a low profile car – not a sports car. Sports cars can cost substantially more when it comes to auto insurance and they are also very expensive to repair. Sports cars are often targeted by thieves as well. Obtain an estimate of the insurance costs before making a purchase to be on the safe side.
5. Low Mileage Premium Discounts
If you drive under a certain number of miles per year, your insurance company may offer a premium discount for low mileage. For instance, if you drive 8,000 miles or less per year, you might be able to pay less on insurance. Ask the company about this option to see if you qualify. If you don’t currently meet the low mileage requirements, consider car pooling to work if possible.
6. Other Auto Insurance Discounts
You can obtain discounts for being a safe driver (with a clear driving record), if you’ve completed a driving course, or for being a non-smoker. Some companies will give discounts if you insure both your home and vehicle with the same agency. You can also benefit from discounts if your vehicle features certain safety items such as automatic seat belts, certain types of airbags, etc. If your teenager starts driving, have them share a family car instead of buying one of their own. Also, let the agency know if your teen makes honor roll or takes a defensive driving course in school.
7. Avoid Extra Expenses
You can find the cheapest car insurance by avoiding extra expenses such as towing, car rentals, or extra medical coverage (if you already have coverage through a health insurance policy). If buying a new car, read the full factory warranty to see what’s included. Then you can possibly drop these items from your car insurance policy and reduce your premium.
8. Keep Inexpensive Auto Insurance
The best way to keep your auto insurance at a low cost is to maintain a good driving record. Avoid speeding or traffic violations. These can cause your insurance premiums to increase a great deal. Also, try to maintain good credit. Many insurers today are considering a person’s credit rating when determining auto insurance rates. Remember to pay your premium bills on time. Being late on a bill payment can cause your policy to be reinstated to former higher pricing even if you’ve been using the same company for a long while. Combine each of these tips to enjoy great savings on insurance. You can comparison shop online and get instant car insurance quotes. The cheapest car insurance comes only with a little research and staying in step with the rules of your agency.
If you’ve just bought your first classic car you will need to consider not just where, but also how you are going to insure it.
As a classic car owner it matters not if you drive a perfect condition Ford Capri 3 litre from 1970, a beat up old Morris Minor from the Sixties or a sleek E-type Jaguar in British racing green, it is essential that you find the best classic car insurance cover for your cherished motor, that covers your individual risks at prices that won’t break the bank!
If you have not owned a classic car before it is important to realise that there are basic differences between what is known as a standard car insurance policy and the cover offered under one defined as classic, from a specialist car insurer.
The first thing to establish is whether your car is eligible for cover under a classic policy. One way you could do this is ask the previous owner whether it was covered under a classic car insurance policy and with which insurance company.
Different car insurance companies have different definitions of the age and type of vehicles that can be covered under this type of cover.
What might be easily covered with one provider may be excluded by another. Fortunately most online classic car cover providers provide this information on the first page of their websites, so it is fairly easy to surf around and check your eligibility with different insurance companies.
You should check that both the eligibility of the age of the car in question and also whether there are policy restrictions for your individual driving circumstances, such as your age that would prevent you from applying for cover.
The major variation between a standard policy and those offered by the classic car specialists is in the way that you use your classic vehicle, and in particular, how much you drive it. The large mainstream insurers and price comparison sites will offer cover for older cars but will charge an additional premium because of its age. They will also load the premium if replacement parts for the vehicle type are known to be expensive.
More importantly you will only be offered the current market value replacement if the car is covered under a mainstream policy and is deemed to be a write-off when you claim.
With a standard car insurance policy on a replacement like for like basis, the value of the car is often set by the market value at the time of a claim, typically taken from one of the car price magazines such as the UK’s Glasses Guide. The amount you will be probably receive for a write-off will be at the current market value of your car which is an annual depreciating amount. Inevitably, if you own a classic car and insure it under a standard policy contract, this leads to under valuation and under insurance of the true value of the car. You will also probably not be offered the salvage and a repairable classic car may often be deemed a write-off because the cost of repair is uneconomic to the Insurer.
If you purchase a specialist classic car policy you will be offered a choice of either an agreed valuation of the classic cars worth or a policy based on market value.
An agreed valuation amount is the amount that the insurance company will pay out in the event of a claim that results in a write off. This is a major benefit of insuring classics under specialist policies because it ensures that you are not just properly covered but will also receive the specialist repair services that your classic will require should you claim. It should be noted that even agreed valuation polices can change and you should ensure that the value is guaranteed for a certain period of time to avoid fluctuations in market values.
Classic Car insurance polices are therefore tailored to the needs of cars considered to be collectable and effectively the valuation is a rating factor for the condition of the car.
The other major difference between standard and classic policies is in the way that you are allowed to use your car under the terms of the agreement. Originally this type of vehicle insurance was designed for drivers who do not use their classic cars much.
All classic car policies have a limited mileage clause which only covers the vehicle for an agreed amount of miles per year. Depending upon which specialist car insurance company you use, there will be a limit to how far you can drive your classic. Some providers will only cover a couple of thousand miles per year under the policy, but many specialist providers are now offering cover up to ten thousand miles per year. These policies reflect the fact that many drivers now use modern day classic cars as their main form of transport.
As with all car insurance it is important to compare both covers and prices when shopping around. There are many specialist classic insurance providers available online today and many specialist schemes that are targeted at particular classic owners. Compare the premiums offered by these with those from the price comparison sites, but if you want to avoid disappointment if you need to make a claim, be sure to understand the difference in policy covers.
The Internet has made it very easy to compare Classic Car Insurance [http://www.car-insurance.tv/classiccarinsurance.htm] that was previously only available from specialist car insurance brokers [http://www.car-insurance.tv] on the high street. You can find those offering special deals and bespoke schemes for your particular classic by searching for your model type classic car insurance.