Insurance on Cars
Cheapest Car Insurance
Owning Two Cars: How Your Insurance Company Sees You
When you own two or more cars, how your insurance company views you depends on how you will be registering the cars with them. There are two primary patterns for how this can be arranged:
a. both cars are listed under your name as the primary driver
b. one car is listed under your name as the primary driver, while the other car is listed under the name of someone else in your household, such as your spouse or teenage child
3 Tips For Getting The Cheapest Car Insurance: Both Cars Under One Policy
1. Collect important vehicle information for both cars and write it down: To get the cheapest rate, you will need to do some shopping around.
2. Create a list of at least 3 insurance companies apart from your current insurer: It will be tempting to just ask your current insurance company for a quote
3. Make sure to get comparable quotes: When calling around, be sure that you ask for identical types of coverage
Why Insurance For Cars Is Important
This is generally going to be a lot less than the full cost of the repairs to the car. If it were not then you would not have to make a claim in the first place.
If you had insurance for cars then you would be able to claim the market value of your car back from the insurance company which you could then use to pay off what remains on the car and perhaps get a new car.
As you can see insurance for cars is something that no person who owns a car should be without. It will help you to repair your car when it is damaged in an accident or to replace your car if it is stolen.
How to Insure a Car
The first thing to consider is your car, if you are in the market for a new car and insurance costs are a concern you will want to avoid some of the high risk vehicles on the market today. Each year insurance companies put out a comprehensive list of what they consider high risk recently on the list was:
• Cadillac Escalade
• GMC Yukon
• Dodge Charger
• Chevy Camaro
• Ferrari
These are some of the most stolen vehicles in the United States today and therefore come with a higher insurance price tag. Of course, if you are planning to purchase a vehicle such as this out right, without financing, you will only be required to carry state minimums, which will be cheaper.
If you already own a vehicle on the most stolen list there are still a few things you can do to lower your insurance cost. Installing anti-theft devices is a great start to shaving costs and if you will avoid a lot of extra aftermarket parts and chrome, the cost will stay reasonable. Talk to your insurance agent about approved devices before you spend the extra money on alarms and such from the dealer.
Classic Cars
A unique car insurance need is the classic car, some of these older vehicles are worth ten times or more what they sold for originally which can lead to some interesting insurance issues. Most owners of classic cars are pretty diligent to take excellent care of their vehicles, but covering it with insurance may bring up things you have never considered.
• Proof of Valuation - You may know that your classic car is worth $25,000 but your insurance company is likely to ask for credible proof. Make sure you and your insurance company is on the same page when it comes to the value of your classic car, or you could lose big time in case of a claim.
• Storage - Where and how you protect your classic car will have an impact on your classic car insurance. The more secure and protected your vehicle, the cheaper your car policy will be.
• Insurance Company - For average insurance you can generally shop your insurance around at several companies, however when you are talking about classic cars you may be better served to choose a company that specializes in this type of insurance.
The Insurance
Other than the type of vehicle you will be covering is the issue of what type of insurance you will need. If you have financed this car, you will more than likely need to carry full coverage insurance. You should talk over the required deductible with your finance company; generally, it will be in the $500-$1000 range. Additional decisions you will have to make:
• Coverage Amounts - There is a basic level of coverage that most insurance companies offer, what is known as 25/50/20. This is $25,000 in single person medical coverage with a $50,000 limit per claim and a $20,000 property damage limit.
• Underinsured/Uninsured - in nearly all insurance quotes there will be a provision for underinsured or uninsured motorists. This is almost always never required by your finance company and opting out can save you a lot of money on your insurance bill. This is of course a personal decision; you may want to keep it as an optional part of your coverage.
Article Source: http://EzineArticles.com/6176538
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