Alright, let’s go car insurance shopping. We are on an endless search for the best car insurance rate in the market today. There is only one problem with that kind of approach. The cheapest rate just may cost you in terms of service. Comparing one company to another is very difficult without knowing the intangibles when it comes to policy and claim service. We will take the intangibles for now and concentrate on the things that make up the rate.

Bodily Injury Liability - This portion of the auto policy protects you in the event that you are at fault in an automobile accident that causes bodily injury to another driver. Some companies split the limits. For example: 100/300. This means $100,000 per person limit and a $300,000 per accident limit applies if more than one person is injured. You need to compare the same limits when shopping for rates.

Property Damage Liability - This is the last liability coverage in the split limit policy. For example: $100/300/50. The $50,000 represents the property damage liability limit which covers the damage to other vehicles and or property. Make sure that you are comparing the same PD limit when shopping.

First Party Benefits - These are benefits that apply to the policyholder if involved in an automobile accident.

1. Medical Payments - benefit amount paid for medical treatment in or out of the hospital.

2. Income Loss - a monthly benefit paid if you lose work because of an automobile accident.

3. Funeral Expense - Final Expense benefit

4. Accidental Death - benefit paid for accidental death in an automobile accident.

Physical Damage - The Collision and Comprehensive portion of your policy that applies to damage to your auto. Make sure the deductibles are the same.

Tort Option - Full tort or limited tort is a huge choice in some states. This has to do with your right to sue. Limited tort is sometimes 20% to 30% less.

Uninsured and Underinsured - This protects you against the driver who carries no car insurance or the driver with very low limits.

These 5 benefits are what collectively total nearly 100 % of your rate. Make sure that you are comparing apples to apples on them and you should get a good idea how one company compares to another.

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Car insurance rates are prohibitive nowadays. Many families really struggle to pay the car insurance bill each month. And car insurance rates vary all the time. So if car insurance cost is an issue for you, what can you do about it?

The car insurance industry is a massive industry. It is also a highly competitive one, and car insurance rates vary over time as car insurance companies compete for business. Car insurance rates are often highly fluid.

It is entirely possible to lower the cost of your auto insurance rates by altering your behaviour, and you can do this by having a better understanding of how the rates are assessed.

Car insurance rates are based on an assessment of risk. Whilst insurance companies vary their rates to compete with other insurance companies, they also vary their rates based on their assessment of the risk posed by a particular driver driving a particular car. They do this because there is no point in buying business with low car insurance rates and then insuring high risk drivers at these rates. This is a recipe for losing money.

So, if you lower your risk, you lower your car insurance. How do you
lower your risk? Well there’s a number of ways that your own driving and car behaviour can affect your car insurance rates.

Have a look at the car you drive. Is it suitable for your current needs? If not then would it be worthwhile to consider a change?

Different cars attract different auto insurance rates. Sports cars, high powered cars and cars at greater risk of theft attract higher rates. How long have you had your car and would it be wise to think about another one that would be cheaper to insure and more useful to you?

Are you a safe driver? Do you stick to the speed limit? Are you at risk of other driving offences? Many people do not think about some of the consequences of speeding tickets and driving offences until after they have seen their subsequent car insurance bill.

Your risk profile is a direct result of your driving record. A clean driving record and you will be rewarded by cheaper rates. A poor driving record and you will be penalised, usually for quite a while.

Are you willing to attend driver training courses? Many car insurance companies offer specific discounts for drivers who have attended a course. Why? Lower risk.

Are you willing to drive less? Could you car pool or use public transport to get to work? Car insurance companies look at the amount of driving their clients do when assessing their car insurance rates. Why? Lower risk. Less miles driven equals less risk. And you’ll save on other car costs too.

So if auto insurance costs are an issue for you and your family there are things you can do. These are just a few of those things, there are many more. Car insurance rates are not set in stone.

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It’s probably safe to say that all teens look forward to their sixteenth birthdays so they can gain the privilege of driving. Driving offers freedom, responsibility, and an overall “grown up” feeling for teens. And it’s probably also safe to say that most teens not only want their own vehicle, but they want a “cool” vehicle, as well. After all, no one wants to drive to school in Dad’s old work truck, right? Regardless of whether you purchase your teen his or her own vehicle, or lend them the family car, one of the best ways to get a low car insurance rate for your teen driver is to make sure your teen driver is driving a safe vehicle.

If you choose a safe vehicle for your teen driver, not only are you better protecting your teen and the passengers, but you’re also protecting the vehicle itself. Insurance companies will look at how much it’s going to cost to repair the vehicle in the event of an accident, as well as how safe your teen and the passengers will be inside the vehicle in the event of an accident. Insurance companies will look at statistics such as crash test ratings and features such as air bags for both drivers and passengers, so you should research them as well when you head out to purchase your teen’s vehicle.

So, once you head out to shop for a vehicle for your teen, keep in mind that car insurance rates for teens tend to be lower when you choose a sturdy vehicle with plenty of safety features. And if you plan to just loan one of the family cars to your teen? Opt for the safest one! By taking these steps, not only do you have a greater chance for lower car insurance rates for your teen driver, but you’re also helping to ensure the safety of your teen as well as passengers.

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