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Auto Insurance Pre-requisites
Prior to making any investment in any type of auto insurance policy, you must be confident that you have weighed all other options considerably well. You definitely wouldn’t want ending up paying for something you never wanted.
The easiest medium to get extensive options for your auto insurance needs is internet as you will discover a wide variety of options with prices ranging from economical to skyrocketing. Good auto insurance never comes cheap, so you’ll have to spend enough time on every option available.
The complications in auto insurance calculations are inevitably going to make your task even difficult. There are several factors that come into play during calculations, such as the area you reside in, what car-theft prevention devices you have installed, the make and year of your car etc. You can avail interesting discounts if you have good tracking and security systems (steering wheel disablers, car alarms, auto lock mechanisms etc.) installed in your car, however, they’ll vary from company to company.
While many states have made it mandatory for vehicle owners to have auto insurance, it is not a trend followed in all of US. In those mandatory states, if one is found involved in a road accident, and without auto insurance, his/her license is suspended without any questions asked. Well, there is a good reason behind the state’s imposition of such strict insurance laws. Expensive car repairs can have a drastic affect on your psyche and compromises made on the repair parts can further lead to more accidents and chronic injuries, that doesn’t reflect well on any government’s report card.
In case you are a first timer and are under 25 years of age, you will have to pay higher premium in comparison to anyone with a previous insurance record. At the time of obtaining quotes for the auto insurance policies, you will be asked to decide on the excess or the deductible amount. This amount is the sum you’ll have to pay the insurance company prior to them honoring your claim. The deductible amount and the premium amount are normally inversely proportional to each other.
It is best to have one single auto insurance policy for all the vehicles in home, even if under the names of different owners. Having a single insurance policy will save you a lot of money in comparison to having them individually for your spouse and children.
Many people fall prey to the loyalty myth and fail to realize the benefits of switching between different auto insurance companies, over a period of time. If you have had an auto insurance policy for a long time now, you stand a good chance to get a highly competitive quote from a competitor insurance company.
If the massive number of 1.2 million cars stolen in the year 2005 is any indication, you must act in hurry and get an auto insurance policy for your vehicle. In the reports submitted by the NICB (National Insurance Crime Bureau), it was observed that the most likely targets of car thieves were places in Las Vegas, Sacramento and Phoenix. The good news is that auto insurance premiums are on a downward trend and as per III (Insurance Information Institute), the average annual premium works out in between 800-900 USD. So go ahead and get your dear vehicle insured right away!
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