Best Insurance Services and Professional Insurance Company – Inglewood, California
Apart from zeroing down on the best auto loan deal, it is equally critical to choose a proper auto insurance policy. We all know that the auto insurance is a mandatory legal requirement when you purchase your vehicle. And there have been many instances where you, as an insured, have been charged very high premiums. But there are many ways by which you can lower the auto insurance premium rates offered to your by your auto insurers. Earlier, the engine capacity, the geographical zone, the cost, and the age of the car were the four major parameters which were taken into consideration for deciding the premium amount that you needed to pay.
However, there have been many other demands that have been taken into consideration so that the insured gets to pay much lower premiums and avail maximum profits in case of an accident.
- Provide correct information: By offering your insurer the right information, you can reduce your premiums by 10-30 percent.
- Model and make of your vehicle: The decision regarding how much premium needs to be charged depends on the make and the model of your car. If your auto’s make/model is more prone to the accidents, as, in the books of your insurer, you are likely to be entitled to much higher discounts than those make/models of vehicles which are less prone to accidents.
- Gender and profession of the driver: The practice of dividing premium considerations by gender is commonly followed in the West. However, some insurers think female drivers better than the male drivers, making the female drivers entitled to higher discounts than their counterparts. The car driver’s profession to affects the insurance premium. If an office goer uses a car, it is evident he uses it to commute between his house and office, rather than a salesperson, who will use to reduce in different cities on a wider basis.
- Locality where the car will be driven: Apart from the locality, the place where the car is filed or registered is taken into consideration these days. The insurance companies calculate the claims depending upon their location. In congested metro cities, where bumper to bumper traffic is observed, claims for car scratches and dents are usually more, whereas location highways normally carry a huge claim amount because they are prone to major accidents.
- No claim bonus: The no claim bonus is a type of discount allowed as a percentage of the ‘own damage premium’ and the same is raised every year to the next slab. It is done only if a claim for damage to the auto is not favored and it is lowered if there was no claim preferred during the currency of the expiring the auto insurance policy. This type of discount may go up to 50%, and it is up to the insured to choose if he/she wants to transfer the same to another car. If the client sells his old vehicle, he can also be kept in abeyance and use it on a motorcar bought at a later date.
- Voluntary deductibles: An optional, voluntary deductible discount is offered, and the discounts can go up to 35% of the premium for car damage, an option that can be held by a client if he/she wants to opt out of small claims for minor auto damages and the insurance provider will pay a claim only for the damages in excess of this limit of voluntary deductible. This move can way decrease your premium.
- Safety features: To draw around 3-5% discount on your premiums, it is necessary to install an anti-theft or other safety features from a properly approved make by your auto insurance provider. Therefore, you should provide full and exact details about your vehicle along with security measures adopted by you to avail discounts.
- Member of Automobile Association: If you are a member of any particular designated automobile association in the US, then you can avail discounts on own damage premium, which is applicable for private vehicles and motorized two-wheeler policies.
- Concession on your car: If your car was lying in the garage or was not in use for a minimum period then upon notifying your insurance company the client can avail a concession during the renewal of the policy either by way of extending the period after expiry or credit to the renewal of auto premium.
- Online Purchase: When you buy or renew a fully private auto insurance online, some insurers provide a higher discount. The insurance business has a considerable saving on processing as well as distribution costs when the transaction is carried out online.
Since these all parameters are dynamic, it always advisable for auto owners to get in touch with their insurance providers for the latest benefits available.