Скачать или смотреть 10 Auto Insurers secrets drive rates down - Car Insurance Tips

10 Auto Insurers secrets drive rates down - Car Insurance Tips
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Rates may be impacted by the additions on your car.
An insurance provider will need to know the make and model of your car, as well as if it has high-end accessories, which may result in higher insurance costs. They may also consider the car's safety rating, year of manufacture, and probability of theft.

Top tip: There are several elements that influence car insurance prices, so if you're thinking about buying a new car, check on the specifics of the vehicle before committing.

2. Where you live might cost you
Depending on where you live, insurance may cost more or less. Because high-density locations have a higher accident rate, the rate reflects that danger. Another factor that might boost prices is if your community has a high rate of car theft. However, insurance costs are higher than the national average in states like Michigan, where there are more cases of insurance fraud and uninsured drivers.

3. Teen drivers may increase your rate.
Adolescent drivers have the greatest collision rate of any age group, so adding a new driver to your policy may have an impact on your pocketbook. Check with a another provider to see if the cost of a policy with a teen is lower, or ask your present provider if they provide a discounted rate for multiple drivers. Several insurance companies provide a discount to teenagers who get high grades in school.

Loans are a factor.
Insurance costs are a factor in determining whether you purchase a car outright or acquire a bank loan for it. A bank may require you to carry additional collision coverage or pay more premiums to make sure their loan is covered in the case of an accident or other damage to your car. When you sign a loan for your car, check with your bank to see what sort of insurance coverage they may require you to have.

5. You may be involved in an accident.
The Comprehensive Loss Underwriting Exchange (CLUE) and the Verisk Automated-Property Loss Underwriting System are two databases that insurance firms have access to (A-PLUS). These databases allow them to know if you've made a claim or been in an accident, which they may factor into your insurance costs. These investigations can reveal up to seven years of claims for a company, so switching providers may not help you avoid a past problem.

Pro tip: You may obtain a free copy of your Consumer Disclosure Report from LexisNexis and a Verisk A-PLUS loss history report to see what information insurance providers have access to and whether any revisions are required.

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Disclaimer - Our videos are created from news articles relating to the Insurance Industry, all information is created for education purposes. We stress that anyone that wants to invest in any type of Insurance policies of any nature, they need to meet with a qualified Insurance Agent or Insurance Broker.

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