Check Insurance Rates before You Buy a Car... At some point you're going to be in the market for your next car, be it used or new. If you've narrowed your search down to the type of vehicle you'd lik…

Check Insurance Rates before You Buy a Car...

At some point you're going to be in the market for your next car, be it used or new. If you've narrowed your search down to the type of vehicle you'd like to own, you should check insurance rates before you buy.
Often we will get calls from people who bought a new vehicle and gave no thought to the insurance rates and who were shocked to learn that, in some cases, their monthly premiums were more than their monthly car payments. That smarts and could have been avoided if they had checked first.

The main factors that influence your insurance rates are:
• Your driving record
• Your insurance claims history
• Your credit history (in some states)
• Your zip code
• The cost of repairs to your car
• The cost of injuries to people injured in that car

The last two items are affected by the type of car you choose. A more expensive car will typically cost more to repair, hence the higher premiums. And cars with poor safety ratings will also cost more to insure.

One of your first stops when researching a new car should be to the Insurance Institute for Highway Safety for a review of your vehicle. If your car has poor ratings in any category, realize that there is potential for this to negatively impact your insurance rate. Their website is: www.iihs.org

After that, call us at 516-755-7966 and we'll be glad to obtain some quotes for your new purchase so you won't be surprised by insurance sticker shock.

Keeping your premium in check...

Once you do have your car, there are a number of steps you can take to ensure that your premium doesn't escalate substantially later. These include:
• Being smart about filing insurance claims. Do you have some minor damage to your car? Consider paying for the cost of the repair before you file an insurance claim if the cost of the repair is close to or just slightly higher than your deductible.
• If you have been involved in an accident and there are injuries, file a claim without hesitation. This is a scenario where you should involve your insurance carrier immediately to help protect yourself, particularly if you believe the other driver was at fault.
• Have you been pulled over and ticketed for speeding? You can often avoid having it show up on your record if you pay the fine and take a special safe-driving course offered through providers that contract with your state Department of Motor Vehicles. The cost of the defensive-driving class is far less than the increased cost to your insurance rate.
• Maintain your credit/insurance score by heeding the following tips. You can also find many more online at various resources (these will also help you qualify for lower interest rates on your car loan):
- Pay your bills on time
- Avoid excessive inquiries into your credit reports
- Limit the number of credit accounts you have
- Review your credit report annually
- Limit the amount of new debt you take on
- Work with creditors to resolve outstanding balances before they are turned over to collection agencies

Views: 8

Tags: #carinsurance#insurance#cars

Comment

You need to be a member of 516Ads Custom Internet Page to add comments!

Join 516Ads Custom Internet Page

Latest Activity

Danielle Michelakos is now a member of 516Ads Custom Internet Page
7 hours ago
David Gussin posted blog posts
Saturday
David Gussin posted events
Thursday
David Gussin shared their blog post on Facebook
Wednesday
David Gussin shared their blog post on Facebook
Wednesday
David Gussin posted a blog post
Wednesday
Mr. Jay Ryan is attending David Gussin's event
Thumbnail

Nassau Networking Luncheon @ The Heritage/ Bethpage State Park at The Heritage/ Bethpage State Park

March 19, 2024 from 12pm to 2pm
Mar 12
David Gussin posted an event
Thumbnail

Nassau Networking Luncheon @ The Heritage/ Bethpage State Park at The Heritage/ Bethpage State Park

March 19, 2024 from 12pm to 2pm
Mar 12
David Gussin posted blog posts
Mar 11
David Gussin posted a blog post
Mar 9
David Gussin posted events
Mar 7
David Gussin posted a blog post
Mar 6
David Gussin posted a blog post
Mar 4
David Gussin posted an event
Thumbnail

Monday Night Networking: FREE Networking Night @ The TAP ROOM/ RVC at The TAP ROOM

March 11, 2024 from 6pm to 8pm
Mar 4
David Gussin posted blog posts
Mar 2
David Gussin posted an event
Thumbnail

Business Development Breakfast @ North Shore Towers at North Shore Towers

March 8, 2024 from 8:30am to 10am
Mar 2

© 2024   Created by 516 Ads.   Powered by

Badges  |  Report an Issue  |  Privacy Policy  |  Terms of Service