Smart and Easy Ways to Save on Car Insurance Coverage

Many factors influence the cost of your car insurance coverage. Before you are approved for the car insurance, the company will evaluate you and your car based on several guidelines. There are several factors that influence your car insurance coverage cost including car value, loyal customers, installation of safety features, car model ratings and driver age. 

The car value plays an important role in your premium rate. The auto insurance companies in U.S. have their own requirements in determining your car value. The value of the cars differs from various states. When evaluating the car, the insurer will check the car mileage and the pre-accident condition of the car. The car insurer will also ask the local dealer about the cost of a replacement part. You should go to at least 3 local dealers and get price quotes from them about the replacement parts. The 3 local dealers that you visit should be the dealers that offer the cheapest price for the replacement parts. After you have obtained the price quotes, you must submit them for evaluation of the insurance company.  If you regularly service your car, you must present copies of document as proof so that you can be awarded with a better deal.

If you want to save money in car insurance, you should buy the car insurance from the old insurance company. Insurance companies like customers who have stayed with them for a long time and never encounter with an accident. If you are loyal customers, the insurer will award you with a renewal discount.

Insurers will give premium discount for cars that are equipped with safety features. Some of the safety features that are installed in the car include antilock braking system, advanced frontal airbags, child safety seat, tire pressure monitoring system and parking sensors.  Different insurance companies have different requirements on the safety features. Before installing a safety feature, you should check with the insurer to see if they offer discount for the feature.  

Insurance companies use the ISO rating system to determine the premium cost for different car models. The ISO (Insurance Services Office) is the organization that is responsible for assigning a risk number to each model of vehicle. The risk numbers are not divulged to the public. Different kinds of car model will be charged with a different insurance rate. Sports cars often have high risk number.  Besides sports car, the SUVs (sports utility vehicles) also have a high risk number because they are more prone to damage in an accident.

The driver age will also affect your insurance premium. Drivers that are under 25 years old have higher risk of getting involved in an accident. The safest driver age is in between 50 – 65. If you are under 25 years old, you can wait until you are 25 years old to apply for the car insurance premium.