Cars are becoming more vulnerable. Between March 2024 and April 2024 alone, 81,125 car thefts were reported in 5 US states alone, which is equivalent to a 32% increase over the same period in 2023. According to statistics carried out by several insurance operators, it has been determined that only 47% of the vehicles circulating in the country last year had active car insurance.
Before continuing, if you are looking for a good insurance for your vehicle, there is a website specialized in searches and comparisons of offers for different insurances, you can access the url: insuranceurgent.com. Below, we will give you some tips that you should keep in mind when looking for insurance for your car.
What are the main reasons to choose car insurance?
When choosing car insurance, the most common criterion is the price, however, it is not the ideal way to choose the one that suits you best. The price of car insurance varies greatly depending on the level of risk to your vehicle, the profile of the driver and even the area in which you insure it.
Up to 59.9% more can cost to insure a car in an area where there is a high theft statistic. This is reasonable, because the probability of risk of occurrence is higher.
On the other hand, when you take out a contract, you should know that there are different products that the insurer can add or remove from your policy to meet your safety and budget.
Basics That Change the Price of Car Insurance
The area where you live: The place where you live defines many of the risk situations for your car. Is it a place with a lot or little traffic, do you have parking for your car or will it stay outside the house, is it an area with high or low crime rates? That impacts the cost.
Marital status, age and gender: Insurers use certain parameters to identify risk groups in drivers: having a family of their own or being younger are sometimes characteristics that lower the cost, as they are associated with a lower accident rate.
Car and driver history: If the car is pre-owned, but has crashes on its record and/or the driver has been involved in car accidents, the cost of insurance may increase.
Add-ons you can select for your car insurance
Think about how you’ll use your car and choose the most appropriate coverage. Remember that there are supplements to your insurance, which, as the name suggests, are “additional” protections that make vehicle insurance more complete, that is, they “cover” the details that escape the most conventional insurance.
They are also called modules for your insurance. Examples include tire protection, auto parts theft, auto replacement and wheel theft. The cost of each module varies according to the piece of the complement to be included; depending on the one you request and the insurer where you quote it.
When to secure some add-ons
Securing add-on modules is especially suitable for new cars and cars with expensive extras (e.g. equipped with luxury wheels, fenders, batteries, antenna).
The more luxurious these accessories are, the higher the price will be, so in these cases, it is almost essential to insure these accessories, especially against theft.
What Other Variables Can Influence Your Car Insurance Costs
Here are the most common ones for most users.
- Identify the characteristics of your car and what the risks are. There are brands and models that are more prone to theft and certain types of accidents.
- Compare the offer of at least 3 different insurers. Even if the products are similar, you can negotiate some additional and/or payment facility.
- Assess the cost-benefit ratio. As with any purchase, you need to evaluate whether you really need everything that comes with it.
- Read the insurance policy in detail. If you agree with your rights and obligations it is the right insurance, but read everything, even the smallest print, all are important to understand in order to close a good deal.
Travel safely! Do not risk any eventuality such as an accident or theft of the vehicle, whether it is partially a part or even more serious, the whole of it.
It’s also a good idea to research your insurer’s reputation, coverage and presence across the country, especially if you use your car for travel.
Conclusion
When it comes to the protection and safeguarding of one of the most used assets by most of us with our vehicles, we are aware of the peace of mind that it generates to have this good insured at all risks, although this represents an annual cost in our budget, definitely, this value is almost insignificant compared to a serious mishap in the form of an accident or theft, It represents a greater loss that we should not take that risk unnecessarily.
