What to think about before you buy Auto Insurance
What to think about before you buy Auto Insurance - Insurance companies are like pack rats with statistics. They collect information about every reported traffic accident and every claim made. They have been doing this for decades. Ask them which makes and models are most likely to be in an accident at a given time of day, and they will tell you. Want to know which vehicles are most likely to be stolen? They know. Worse, they also know which groups of drivers are most likely to have an accident. That means you have to find out what they know when you are buying a vehicle.
The best place to start is the site operated by the Insurance Institute for Highway Safety and the Highway Loss Data Institute which publishes the results of crash tests and a wealth of other information about the full range of vehicles currently on the road. Start with http://www.iihs.org/ratings/default.aspx and find out which are the safest vehicles to own. Not surprisingly, these are also the cheapest to insure. If you do not own one of the best vehicles, it can often be cost-effective to have safety equipment or anti-theft devices installed. Check out what discounts are on offer from the different insurers.
If you cannot afford to change your vehicle and are just looking for the renewal of your policy, look carefully at who you are, where you live, and how many miles a year you drive. Obviously, you cannot change your age and gender, which is unfortunate because almost all women and men between the ages of 40 and 65 pay less than other classes of drivers. So if you are a young man, start driving as you mean to go on. You will earn a discount if you take additional driving courses. Your premiums will also fall over the years if you do not have an accident and avoid picking up any traffic tickets. Most insurers operate a zip code loading. If you live in an area that has such a loading, it can be worth paying for a lockable place to keep your vehicle overnight. You will also earn discounts if you drive less. Finally, there are positive savings of up to 25% if you agree to your insurer monitoring the way you drive. Technology is installed in your vehicle to record the time of day, distance traveled, and information on your driving habits. Sacrificing some of your privacy can save you big bucks.
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