No one likes paying for their car insurance, but it is a necessary evil that has to be paid each month to help protect you in case of an accident. Understanding what is involved in your insurance is essential, as you need to know what kind of coverage you have and what happens if you are in an accident. Do you have accident forgiveness, for instance? What about how much your deductible is? Understanding car insurance and what factors affect it is crucial to being protected and getting a good deal! Here are the top six things you need to know about car insurance.
A brokerage is not the same as an insurance provider, nor are they limitless in the number of policies they can provide you with. A brokerage represents around four or five insurance companies and will pull quotes from only those companies. An insurance provider can only offer you a quote from their own company.
Look around for your best deal is a great way to save. Companies have vastly different rates depending on your driving record. The kind of coverage you are looking for and factors like your age, location, the car you drive, and how long you have held a licence are how your rate is decided. With so many factors on the table, it is understandable that there will be variance in your rate from company to company.
Your driving record is probably the most important factor in regards to how much you pay for insurance. Avoid accidents and convictions to help keep your rates low.
Deductibles are how much money you have to pay out of pocket before your insurance company will pay the difference. You get to decide how high or low your deductible is. The higher the deductible, the lower your monthly costs, the lower your deductible, the higher your monthly costs. Consider which option you works best for you when you are looking at insurance rates.
What car you drive has an impact on your insurance and is something to consider when you are buying. The newer and sportier a car the higher your insurance premiums will be. A lot of it has to do with statistics on theft, the car’s safety rating, and the statistics of claims already made on that model. Do your research before buying to help keep your insurance low.
Consider Your Coverage
You do not have to op into every single aspect of insurance. For example, if you have a very old car that would be more expensive to fix than the car's value you may want to forgo collision and comprehensive coverage. These costs make up a substantial portion of a premium, and you can save a lot of money this way.
The team at Goodison Insurance, auto insurance brokers in Brampton, want to keep you protected. We will work with you to offer you a great deal while also keeping you protected on the road if the worse was to happen. Call us today for a quote and get driving!