Before one makes a decision of buying an auto insurance policy, one needs to be informed of certain matters, which would affect your choice of the policy. Knowing about your own driving record in the past decade – the fines incurred or accidents you were involved in – would have a bearing on your choice of the insurance carrier. Some insurance carriers concern themselves with driving records of merely the last 3 years, hence if your records until then are clean, but were not so prior to that, would mean you make your choice of policies on offer by these companies.
Next parameter that most insurance carriers use to adjust the quotations is the credit rating of the person taking the policy. A good credit report would obviously work in your favour. In case you are planning to buy a car on borrowed money, the lending party would insist on your obtaining cover, which includes both the comprehensive, and collision insurance cover. When fixing the insurance rates, the companies would consider the safety features installed in the car as well as the cost of damages in case of repairs to be undertaken. Hence buying a functional car rather than an exotic one would be financially prudent.
Another factor that affects insurance rates depends on gender and celibacy. A male less than 25 years of age and not married is considered more of a potential risk by insurance companies for obvious reasons. Taking advantage of discounts available on multiple car cover leads to saving on auto insurance premiums.
Keeping copies of the car registration, insurance policy and your licence along with receipts of new accessories added to your car or any new parts installed are a safeguard in case of robbery. Report of your car being stolen not only to the law enforcement authorities with these details but also to the insurance carrier ensures that while investigations are on, you can avail of cars on rent provided by your carrier. Besides, equipping your car with security alarms again means a saving on the insurance rates.
Purchasing the uninsured and underinsured motorists insurance is necessary. Teenagers especially boys are an expensive addition on your policy. There are companies that offer concessions where your teenager achieves good grades at school, has undergone all the coaching courses on driving and keeps a neat driving log. If insured as on occasional driver, it would help marginalise costs since the liability coverage has to be as high as the necessity.
Opting to pay premium as a onetime payment yearly also attracts discounts. At times, your multiple insurance cover can be stretched to include your two wheelers like bikes, mopeds, and caravans too. The policy cover for personal insurance can be stretched to include not only you, but also your family members, close friends, colleagues and associates, and any driver that occasionally uses the car. At times if you drive very often with a child visitor, its best to seek counsel from the insurance company as to when can the child be include in your insurance policy cover.

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