Few things are more important than having the right insurance coverage. About ten years ago, I was involved in a near-fatal crash where I experienced traumatic physical and emotional injuries. It was really challenging for me to endure the hospital stay and subsequent physical rehabilitation, but with the help of my medical team and my insurance company, I was able to overcome the challenge and completely recover. This blog is all about the importance of choosing the right insurance plan so that you can get on with your life and enjoy those precious years with your family and your friends.
Automobile insurance can be a big expense, but there are certain people who are targeted for higher rates. Here's a guide to who has the highest rates and how they can work on lowering them.
Who's Got the Highest Rates?
A few groups of people tend to be seen as the riskiest of all and get saddled with the highest insurance rates. For instance, young people under the age of 30 can be seen as having less experience and being more of a liability on the road. If you are male, expect that your rates will be even higher. For these groups, being married can play a factor in reducing these rates, so count on paying a little more if you're single.
If you've had past driving infractions, the situation can get worse. You may be pegged as a high risk driver and pay an additional premium. But all these factors aside, you don't need to be stuck with extremely high rates; there are several ways to reduce your personal risk factor.
Getting Good Grades
For those who have only a few years of driving experience, showing responsibility in the classroom may be one way to lower your automobile insurance rates. Many insurance companies will give discount to students with A's and B's on their report cards via a good driver program.
Taking Driver's Instruction Programs
There are also many options to show your merit through driver's improvement programs. If you're new to the road, then an introductory driver's ed class may help you to get some dollars shaved off of your insurance premiums. If you've had past driving infractions, then a defensive driving course or a correctional driving program may be the best steps to show that you're becoming a more responsible driver. You can ask your automobile insurance company for advice on which programs they're likely to accept.
Having a good credit score can also help to offset your other risk factors. For young people, this may mean taking out a small credit card at first and paying off small monthly charges to get your foot in the door.
Paying As You Drive
Another thing to consider is reducing your automobile insurance rates by only paying for what you need. You can look for auto insurance companies that offer mileage-based insurance plans, especially when you're just starting out as a driver and not going that far.Share
5 July 2016