by renditioner » Thu Aug 14, 2008 12:18 pm
Hi guys I am actually planning to buy a new car .I wanted to know what features in my new car will affect my insurance premiums.I heard that if you buy a sports car or one which is likely to be stolen more it will increase the premiums .Is it true?
Posted: Fri Aug 22, 2008 11:00 am Post Subject:
Oh I didn't knew that adding a security system can actually lower the insurance premium ..Thanks for the tip..
Yup, the insurer pays an incentive to the policy holder in terms of lower rate of premium if he/she takes care of insuring theft prevention to his car. The comprehensive coverage, which is an expensive component of an auto policy, covers the losses due to car theft. Hence, if you take good measures in ensuring the vehicle's safety by installing anti theft devices, the insurer may lower the premium of the coverage and may also offer you discounts.
Some insurer also pays discounts for green cars. Hence, if you drive eco-friendly vehicle and use unconventional fuel in you car, you may enjoy discounted premium rate in your policy.
Another important factor that influences the premium rate is the number of miles driven by the motorist. If you have lower miles on your car or drive a short distance everyday to commute to your workplace, you may get discounts on the premium.
The insurer takes several factors into account before offering the quote. No doubts that policy rates are rising, but there are still different factors that can influence your rate and can also help you save on the premium.
Regards,
Juanita
Posted: Fri Aug 22, 2008 11:18 am Post Subject:
Remember that some of these suggestions are carrier specific...most state DOI sites also list things you can do to reduce premium, that are directly relevant to your state.
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