Having reliable auto insurance can mean the difference between a nuisance event and a major life altering change that decimates your budget. With insurance, you will able to affect repairs, gain a rental, and get on with your life. Without coverage or with only a minimal policy, you could well be paying thousands of dollars out of pocket to cover not only your damages and medical expenses, but those of the other parties involved in the accident. The solution is to have a comprehensive policy to protect you on the road while at the same time designed to keep your car insurance premium down. This can be accomplished by seeking every discount you are eligible for.
Car Insurance Premium
For starters, you can reduce your car insurance rate by reviewing what safety and security devices are on your vehicle. These may be stock items or after market, but the important thing is to have proof of them being on the vehicle at the time you shop around for insurance. If the items are stock, then the insurance company will have record of this. If it’s after market, keep your purchase receipt and installation work order.
Security items such as car alarms and tracking devices decrease the potential for theft and therefore lower the risk for an insurance company when forecasting a possible claim. A car alarm wards away theft, and a tracking device means the potential for a quick recovery should your car be stolen. In either case, your insurance policy will be looking at a smaller payout should a claim be filed. When creating a policy, be sure to bring these components to your agent’s attention so they can adjust your car insurance premium. You don’t need to be paying a higher rate when you are a lower risk.
Just as your insurance company looks at security devices as saving them money, so do they look upon safety devices such as side airbags and anti-lock brakes. These components are designed to limit injury and reduce damage to your car, and that in turn translates to lowered claim numbers in most cases. By having these safety features in your vehicle you can reduce your car insurance rate even further when paired with the security reductions.
Lowering the potential of theft, damage, or injury makes you a better risk client of the insurance company. Having features that limit liability in the case of a potential incident makes you appear less likely to file a large claim, and your insurance company will adjust your rates to reflect this. All you need to do is inform your carrier when setting up or adjusting your insurance coverage.
Image credit: https://www.flickr.com/photos/97793800@N00/