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Dean Calvert
28 April 2008
It doesn't matter if you have just passed your test or you are a seasoned driver, ensuring you don't pay more than you need to for your auto insurance is important as the cost of owning a vehicle continue to rise; hundreds of dollars can be saved with some of the information provided here. What type of coverage you actually end up with will really be down to what type you actually need despite the large range of policies available. The number of incidents covered by auto insurance has grown over the years so only a few are highlighted below:
*Under insured motorist coverage
*Property damage liability
*Comprehensive coverage
It wasn't that long ago that getting a quote from an insurance company meant a visit to their office and would have to be repeated for a number of quotes. Fortunately those days are past because now it is just a simple matter of using an online comparison site without leaving your home; these can find the quote that suits your circumstances and budget very quickly. If you are serious about reducing the amount you pay then this is the way to do it; increasing numbers of people carry out all their business online these days.
To make matters worse, the cost can be based on many different aspects; some of these factors are mentioned in the list below:
*Town or city you live in
*Is the vehicle fitted with a tracking device?
*The cost of parts used for replacement and labor times to carry out repairs
*Is it a high power sports vehicle?
The risk of a claim is much higher from town or city dwellers. One thing that doesn't change is just how much your auto insurance premium will rise if you do not live in the country; There was a time when you had to pay your premium up front but most reputable companies will allow monthly installments these days which should help soften the financial strain. One word of warning that is echoed by many insurance specialists is 'don't leave getting your free quotes until the last minute' as this can cause problems when the renewal is due.
For those people that drive high risk sports vehicles, comprehensive coverage may be too expensive so looking at a more basic insurance policy might be worth while. Comprehensive cover will pay for medical bills etc. even if the accident was not your fault, something that basic insurance will not do. When an accident occurs, all passengers that are not related by blood in either vehicle will be protected by this type of policy.
Whilst obtaining the quote should be done in good time, changing your auto insurance provider should be carried out when the old policy expires. Some drivers make the mistake of believing their new policy is in force and send a cancellation notification to their existing provider, so avoid doing this until you receive confirmation. It is not unusual to find a discount available if you decide to have your home policy with the same insurer. Once you start looking into auto insurance premiums and how they are calculated you may find other ways to reduce the cost every year.