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.
Families have the option of adding additional drivers and vehicles to their auto insurance plan to make sure that everyone in the family is fully covered. These family auto insurance plans can help to protect your younger drivers and give you peace of mind, but they can also be much more expensive. Here are some tips on how to get affordable family insurance rates.
Make Sure Coverage for Everyone is Necessary
First, take some time to make sure that you really need to put everyone on each car of the family auto insurance plan. It's perfectly fine to have a single driver insured on each vehicle, or only a few, as long as everyone is present on at least one car's insurance roster. The question is whether you want to take on the financial risk yourself, or have it taken care of by your insurance company.
For instance, consider that your car is insured only to one parent. If one of the kids gets in a collision using the vehicle, then you may need to pay for a lot of the expenses on your own, since they are not the driver insured under the plan. If you opt for a family plan where every driver is insured on every car, you'll be paying more upfront per month, but you'll also have expanded coverage in case one of these other drivers gets in an accident in the car.
This is a personal decision that can affect your rates, but it may be a good idea to sit down with your insurance agent to do a cost-benefit analysis. If certain family members only drive occasionally, then the cost-benefit of adding them to every car on the family plan may be low.
Use a Primary Driver
If you opt for a family plan, it can still lower your rates to claim a primary driver on the car and list other family members as secondary drivers. For the optimal benefit, the primary driver should be the person with the most driving experience, the most positive driving record, and/or the best personal credit and financial background.
Assign the Riskier Drivers to the Cheapest Vehicle
Another way to reduce the premium is to assign the children to a vehicle that is easier to insure. Each vehicle will have its own rates based on its age, value, and safety ratings. If you insure teens only on the cheaper vehicles, this will reduce the impact of their higher rates on your overall auto insurance bill. It may take some playing around to get the perfect balance that you're comfortable with, and your auto insurance agent should be able to help you put together the best pricing and coverage.
To learn more, visit a website like http://www.unitedsecurityagency.comShare
30 July 2016