Car insurance is a crucial and major part of any insurance budget. Many different things can cause the rates to fluctuate. These variables cannot necessarily be contained by the insured party but there are some courses of action that the consumer can take to keep their policy affordable without losing a lot in protection.
Think about Your Assets – Do you own your own home? Do you have multiple vehicles? Do you own your own business? Do you rent an apartment or house? Your assets are a factor when selecting your liability limits. If you accidentally hurt or kill someone in a car accident and you have low liability limits on your auto policy, then your assets can be used to pay for the damages.
Talk to Your Agent About Discounts – There are multiple discounts on car policies you might be eligible for. Some companies provide good student discounts for young student drivers that maintain a high grade point average. There’s a multi-policy discount given by insurance companies for having both an auto and a home insurance policy with the same company. Senior citizens may be eligible for retirement discounts. Young drivers can receive discounts for taking drivers training classes.
The Age of The Drivers – Senior adult rates, adult rates, and rates for young drivers make a huge impact in your overall rate. Young drivers on cars with physical damage policies can be very expensive.
Consider the Age of the Videos – Lenders usually require physical damage coverage for newer vehicles. Older vehicles with high mileage do not always require physical damage coverage. The rates of these policies can be adjusted based on the deductible you decide on.
Check into Full Tort or Limited Tort – If you select a limited tort option, many states will offer a discount. Tort is your right to sue for pain and suffering damages beyond the basic liability settlement. This depends on the state so check with your agent to find out more.
This is what insurance companies use to determine your individual rate. You can choose from different options for liability, physical damage, and tort. Talk with your agent about these three areas when purchasing car insurance.
For more information about Austin Auto Insurance call our office at 512-454-4567.