By Gavin Bloom
Car insurance is an integral part of the insurance budget.
There are a lot of variables that cause the rates to increase
or decrease. Some of these variables cannot be controlled by
the insured but there are some things the insurance buyer can
do to keep their policy reasonable without losing a lot in
What Are Your Assets? – Do you own a home? Do you have several
vehicles? Do you own a business? Do you rent an apartment?
strength in assets is a factor when selecting your liability
limits. If you accidentally injure or kill someone in an
automobile accident and you carry low liability limits on your
car policy then your assets are next in line to be used to pay
for the damages.
The Age of the Vehicles – Newer vehicles usually require
physical damage coverage by the lender. Older vehicles with a
lot of miles sometimes do not warrant physical damage.
damage rates can be adjusted up or down based on the
The Age of The Drivers – Adult rates, senior adult rates, and
rates for young drivers make a huge difference in the overall
rate. Young drivers on vehicles with physical damage coverage
can be very costly.
What are the Discounts? – There are a number of discounts on
car policies. The multi-policy discount is given by insurance
companies for purchasing both auto and home insurance.
Retirement discounts are available to the senior adult. Young
drivers receive discounts for drivers training education. Some
companies give good student discounts for young student
that maintain a 3.0 grade point average.
Full Tort or Limited Tort – Many states have a discount for
selecting a limited tort option. Tort is your right to sue for
pain and suffering damages over and above the basic liability
settlement. This varies from state to state.
This is the overall picture what insurance companies use to
determine your individual rate. You have a choice when it
to liability, physical damage, and tort options. Ask plenty of
questions about these three areas when purchasing car
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