Motor vehicle coverage is for more than just the body of your car. In addition to providing you with protection, it also provides protection for other drivers. As soon as you receive your auto insurance policy, double check to make sure you are covered for everything you expect to be. These suggestions are going to help you gain a lot more from your insurance policy.
If you are thinking of adding a teenager to your auto insurance, find out how much it would cost to put them on your policy, versus the amount it would cost to get them a separate policy. It can sometimes be cheaper to purchase a different policy, but this depends on what vehicles are involved.
To verify that your auto insurance will cover all your expenses in the event of a loss, discuss your coverage with your agent, especially before you add any custom features to your car. You may put out $1,000 for a fancy stereo system for your car, but if the car is stolen, your insurance is only going to reimburse you for the $30 value they add to your car’s actual function.
It is a common misconception that the cost of auto insurance automatically drops as the driver reaches 25 years of age. Insurance starts going down at around 18, depending on their track record.
Do not try to keep a lid on your premiums by juggling cars and family members. If only one driver is listed for the car, you will receive a policy at a reduced rate.
Raise your deductible to save money on your premium. Doing this can be a worthwhile way of saving money if you are willing to store money away in case you do get in to an accident. Your premium will cost less if your deductible is higher.
In addition to using the advice this article has given you, look over your policy. You may find that things were not as you thought they were, and you may benefit by rewriting your policy to get the proper amount of coverage to protect you and the other drivers on the road.