Get ready for three times more premium for your auto
insurance policy, if you are planning to add your child below the age of 20 as
a driver for your car in your auto insurance policy. According to a report,
teen involve 3 times in the accidents more than older. Therefore insurance
companies charge three times higher premium for the individual who want to add
his minor as his car driver. This huge amount is out of access of a common person.
That’s why we are providing some of the important things that will help you to
reduce your auto insurance premium.
Make a Research
The research is as important as your policy because it can
increase or decrease your policy cost. You should do an effective research for
selecting a vehicle that you want to buy. Your selected vehicle will decide
that how much you will have to pay in the premium. If you choose a vehicle that
is frequently involve in the accidents so automatically insurance companies
will charge higher amount for the vehicle because of their involvement in the
several accident cases. Buy vehicle that is not frequently involve in the
accident case. This can be verifying from high way authorities that which vehicle
is found frequently involved in accidents.
There are some brands that are frequently stolen in the
different countries of the world. Even ratio of this theft can be more or less
in the different countries even cities. So insurance companies keep close eye
on such cases more than a common person so therefore they demand higher amount
of premium for such cars. Therefore don’t buy such cars that robbers love too
much.
Car Assignment
The insurance company will must ask you about the car you
assigned to your child if you add a child driver in the auto insurance policy. In
such case assign a vehicle to your child that is cheap and lower in the value. Insurance
companies will increase the insurance premium three times higher if you
assigned your child an expensive new car.
Resident Student Discounts
Numbers of big schools are attached to the famous insurance
companies and provide their students the auto insurance policy with 10-15%
discount from such insurance companies. So if you son is going to this kind of
school, don’t buy insurance plan from your auto insurance company and let the
school provide auto insurance plan for your child’s vehicle.
If your son goes to school and does not take his car along
that’s means he is saving a higher amount of premium per year. In that case
when the students don’t take their cars with them at school, they are provides
35% discount in the premium because they use auto only in the vocations or at
the weekend. So in this regard you can reduce the huge amount of premium of
your vehicle per year. Another benefit pf taking auto insurance plan from such
companies is that they also provide 25% of discount in the annual premium of
such student who performs well at school and whose grades are healthy.
Diminished value
Ask your insurance company to add diminished value benefits in the coverage provided to you in auto insurance policy. The diminished value is you right and must be provide to you in your coverage. If someone is not ready to provide you diminished value so skip that insurance company and prefer some one that offers you diminished value. The diminished value Florida can also help you in this problem, the company known for its years of experience in the diminished value.
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