Are you getting ready to buy a car? Before you sign the purchase agreement, there are some things relating to your new car insurance that you should consider.
Insurance has always been a business of managing and sharing risk. There are thousands of data points used by insurance companies to determine just how much is at risk, and how they should price the insurance. They have been gathering all this information for hundreds of years and have actually gotten pretty good at it.
Automobile insurance is based on several different facts. Certain things about who will be driving the vehicle such as their age, gender, and driving history including whether or not they have had any tickets or previous accidents. They also factor in what the vehicle will be used for, is it for personal or business use? They also consider where the vehicle will be driven, what is the year, make and model of the vehicle you are buying. Even little things such as which engine comes with your vehicle will make a difference.
There are also some decisions that you need to make that will affect the premium you pay. For example, what coverages are you looking for? Liability? Physical Damage? Both? What deductibles are you going to choose? These are just a few options that you have that will effect your premium.
Knowing that which vehicle you end up buying can make a big difference on how much you end up paying for insurance, should make you think twice before making your final decision. Feel free to give us a call before you buy, we’d be glad to answer any questions you have and make sure you’re covered properly before you leave the dealership.