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Saturday, May 11, 2013

Choosing the right car insurance

Your car is one of the most important things in your possession, and keeping it ensured against all unforeseen events is a wise choice. The price of your car insurance will depend on many factors. One of the most important factors that plays a part in deciding how high your car insurance premium will be is the type of car you drive.

For instance, car insurance for a supercharged sports car will be much more expensive than the same level of coverage for a four door sedan. There are a few reasons for this, and one of the biggest ones is that sports cars tend to be in much more accidents than family cars, SUVs and sedans. This spells more risk for the car insurance company, and that risk has to be justified by the increased price of car insurance.

Another factor that plays a big role in deciding how much will you have to pay for car insurance is the track record and experience of the driver. Careless drivers, those with a history of traffic accidents and speeding tickets and inexperienced car drivers carry the greater risk for the insurance company. A combination of a fact, 5-liter 500 horsepower car and an inexperienced driver is generally speaking a potentially dangerous mix and something you will want to avoid – not only because you will be forced to pay steep monthly premiums for the car insurance. So, if you are considering buying your son or daughter a car for his or her eighteenth birthday, a slower but safer Volvo is a better idea than a faster but a more dangerous Mustang or alike.

A good way to keep the car insurance premiums for young drivers lower is to send them to extra driving lessons and safe driving programs. While the value of the vehicle is one of the most important basics that car insurance companies use to decide on the cost of the insurance policy, other factors play a big part too. One way to keep the costs as low as possible is to opt for a higher than average deductible. Most people don’t know this, but choosing a higher deductible will often help you with safe considerably on the premium.

Another good way to save on car insurance is to shop around as much as possible and to compare as many different car insurance policy quotes as possible. Getting the lowest priced  car insurance possible is not always the cheapest option. A low priced car insurance policy that doesn’t provide enough coverage, or that doesn’t cover all the possible scenarios can turn out to be quite expensive once you are forced to pay for the repairs from your own pocket, so alway aim at the right mix of coverage and cost. A good way to quickly compare a lot of different car insurance companies and policies is to use car insurance comparison websites. And while these might not cover every possible option out there, they can be very useful if you want to get a quick idea of what is available out there.

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