Low Cost Auto Insurance full coverage
Buying garments or looking for vehicle insurance, you usually want for that best bang for your buck. So, what’s the key to locating reliable, affordable vehicle insurance? Low Cost Auto Insurance full coverage usually refers to comprehensive and collision auto insurance coverage. An insurer will rarely use the term full coverage because it implies a higher standard than what comprehensive and collision usually cover.
Comprehensive coverage covers an insured vehicle that is involved in an accident that is not a collision. Examples include fire, theft, weather (hail, falling branches), vandalism, etc. A claim is traditionally subject to a deductable.
Uninsured and underinsured coverages are not usually a part of full coverage(comprehensive and collision) policies. They are added on as extra coverages.
These coverages provide coverage if an at-fault party either has no or has insufficient insurance to cover the damage incurred via an accident.
Legal definitions of uninsured/underinsured vary by state, so be sure to check with your local jurisdiction as to what these coverages encompass.
Collision coverage includes any damage incurred that was the result of a collision. Collision coverage is usually voluntary. However, if you finance a vehicle your lender will usually require that you carry collision insurance as a condition of the loan. Lenders do this to protect their interests in the collateral that is securing the loan (in this case, the vehicle). Claims are traditionally subject to a deductible.
A deductable is the part of any insurance claim that is not covered by the rider. It is the amount of a claim that must be paid first by the insured before any amount is paid by the insurance carrier.
The higher your deductable (the amount you’re willing to pay out of pocket if a claim is filed) the lower your insurance premiums will be.
This coverage, sometimes referred to as loss of use coverage, covers the costs incurred when you are required to rent a vehicle because your vehicle is being repaired after an accident. Again, this coverage is usually not a part of traditional comprehensive and collision insurance. It’s an add-on. It will cause your insurance premium to go up, but you’ll be glad you have it if you ever have to have major repairs done to your vehicle that could take days or weeks to complete.
Factors of low Cost Auto Insurance full coverage
Finding low cost auto insurance isn’t that hard. Everybody likes to save money and nobody likes to spend money on things like insurance – something most people never collect on and never sees any benefit from.
There are numerous factors that make up what your auto insurance premium costs. Some factors you have no control over. Some you have a little control over. Some factors you have a lot of control over.
Factors you have no control over
Age and gender are the two biggest factors you have no control over. If you’re a male between the ages of 16 and 25 you will be paying, on average, the highest auto insurance premiums. There are a few ways to chisel into this big chunk of your premium. Look for auto insurers who give good student discounts and/or discounts for taking defensive driving programs.
Factors you have a little control over
Some things you have a little control over. These are things you could change, but it would be inconvenient to do so. Geographic location is an example. If you live in a rural area where crime is high, you’re going to pay higher rates. Those who live in rural areas almost always pay lower rates (unless they commute into an urban area every day).
Married people always pay lower rates than single people.
People with multiple vehicles usually receive multi-vehicle discounts. Overall your premiums are higher, but on a per-vehicle basis (divide your total premium by the number of vehicles) your premiums are usually less per vehicle.
Improve your credit score. People with higher credit scores have low cost auto insurance full coverage rates.
Factors you have a lot of control over
Install an anti-theft system. Anti-theft devices usually lower premiums, especially high-end systems like LoJack or Force Tracker. ForceTracker reports on their website that some owners receive a 35% discount on comprehensive insurance premiums.
Say you’re married, even if you’re not. It’s not exactly ethical, but companies never ask for a copy of a marriage license.
Say you drive 3 miles to work, even if you drive 100. Again, it’s not ethical, but the company has to take you at your word.
Play with your deductable. A higher deductable means a lower insurance premium, and vice versa.