Though car insurance is a necessity, having a clear understanding of what you need before deciding which carrier to go with can save you money and a headache. A policy with a low premium can be risky if you don’t have significant savings; however, paying higher insurance for your 12-year-old car also doesn’t make sense.
Before shopping around for car insurance, here’s what you need to know:
Factors That Affect Car Insurance Rates
The first thing to understand is that, like having a positive credit history, a clean driving record makes a big difference in the cost of your auto insurance. A newly-licensed 16-year-old might have a higher rate than a person who has been licensed for years. While age and years of driving experience play a big role, other factors include the make, model, and age of the car, your vehicle’s safety features and anti-theft devices, as well as the driver’s occupation.
Types of Coverage
Coverage requirements vary from state to state, and you might want to invest in a policy that covers more than these legal minimums. A general guideline includes a $100,000 body injury liability limit and $300,000 per accident, plus $100,000 for property damage. While this may seem like a lot of coverage, medical expenses easily surpass this amount. Additionally, uninsured motorist coverage protects you if someone without insurance hits you.
If you need to consult with an agent in Florence, KY, about car insurance, the knowledgeable team at Michel Insurance Agency will discuss a host of different policies with you, including auto, home, and life insurance. From Umbrella coverage, for excess liability after your other policies pay out, to driver discounts, they’ll help you find the plan that suits your needs and best interests. Contact them at (859) 371-9458 to speak with a representative or visit their website to view their services.