(ThyBlackMan.com) Driving is expensive. That’s no secret. Between getting your license, buying the perfect vehicle and paying for tax and gas, it can cost a small fortune. That’s without even mentioning the insurance.
But getting insurance for your vehicle is necessary. It’ll cover the risk of financial liability, should your car be stolen, damaged or involved in a collision.
The world of insurance can seem messy and complex. Here are some things to consider when getting insurance for your vehicle.
How much coverage do you actually need?
How much coverage you actually need will vary. It’s not always cheap, so it’s worth looking into the minimum requirements for your state and working out how this relates to your budget. Just bear in mind you might need more than the minimum in order to actually protect yourself and your assets. You want to determine exactly what your money will buy you in terms of coverage. Sometimes it’s worth paying a little extra to get more security, as it could end up saving you money should something go wrong on the road.
First-time drivers
Insurance for first-time drivers can be more challenging to secure, or more expensive. Especially if you’re under 25, as you’re statistically more likely to have an accident. But if you were previously on a parental policy, it means you’ve technically been covered by insurance before, so might pay lower rates.
Always make sure you read the policy thoroughly before signing, particularly if this is your first time. There might be a large number of technical terms in there that are not straightforward to understand. It’s helpful to ask an insurance professional to take you through what these terms mean so you can be sure of exactly what is covered by your policy. Don’t shy away from asking for clarification on terms and conditions. You’ll want to be crystal clear on how to make a claim, too.
Existing drivers
If you’re already an insured driver, but you’d like to look around for better deals, then be sure to check price comparison websites. Find your current policy and make sure you know exactly what you’re already getting for your money before you go and find a better quote.
If you’ve got a good driver record, most likely with three years of accident-free driving, you might qualify for a good-driver discount. What if you’ve got a bad record? When your driving record is poor, it can make the money you pay for insurance skyrocket. Look into what’s on your record already before you look into getting new insurance. If anything is due to come off your record, waiting until that happens could potentially bring down the price of your new insurance.
How about convictions? Once you’ve got a conviction, whether it’s for drink driving or a non-motoring offense, it can be a challenge to get car insurance. Many providers don’t have the relevant knowledge or products in place, so you’ll need to look into getting some form of convicted driver insurance.
By doing thorough research, asking the right questions, and shopping around, you can find a good deal on your insurance and have the security of knowing you’re covered.
Staff Writer; Ron Parker