When you are in the market for a new car insurance policy, you will notice that there are quite a few questions about your vehicle. This is because the rate of the insurance policy can vary based on the type of car you drive. Here are some vehicle factors that might affect your rate.
The Make and Model
The first thing the insurance company is going to consider when coming up with your rate is the make and model of your vehicle.
If your teenager is quickly approaching the age of being able to obtain his or her driver's license, you may understandably be feeling a mix of emotions. Part of you is probably excited for your teen, whereas another part of you may be a bit nervous. Regardless of how you feel about your teen learning to drive, one truth remains: you'll need to make sure your teen is properly insured throughout the process.
When you purchase car insurance for the first time, you are going to be asked a wide variety of questions by your insurance agent. Even if these questions do not seem related, they all serve a specific purpose. They help your insurance company determine the risk associated with offering you insurance, and helps determine the premium or rate that you will pay for insurance coverage.
Type Of Coverage You Choose
One of the biggest factors that will ultimately influence your overall premium is the type of coverage that you choose to purchase.
Adding an inexperienced driver to your auto insurance policy is certain to cause you some rate increases. This is likely to be one of the last things you want to face, but inexperienced drivers simply cost more to insure. By knowing ways to reduce these costs when you do have a teenager, this may help you save money.
Buy an older car
In order to avoid a fully comprehensive policy, you will want to purchase an older vehicle for your teenager to drive.
As a homeowner, you might be surprised to learn that there are many unusual situations where your regular homeowner's insurance policy will cover your losses. Three such situations are:
liability coverage for pet bites
damage to your property from utility malfunctions
loss of the use of your home for a pre-planned event
Here is more information on each of these situations where your losses may be covered by your home insurance policy: