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What You Can Expect to Pay for Car Insurance

What You Can Expect to Pay for Car Insurance

You can expect to pay between $50 and hundreds of dollars for your vehicle insurance per month. The premium you pay on your car insurance will depend on things such as your driving history, your age, where you live, the number of cars you have insured, your family discounts, the type of car you drive and so forth.

junk mail

Be Prepared to Relegate a Lot of Crap to Your Junk Folder

When you are searching for car insurance, it is going to involve a lot of signing up for insurance companies and websites so that you may use their quotation tools. As a result, you will receive a lot of spam, so get ready to relegate a lot of emails to your junk folder.

Try Numerous Comparison Sites That Run Soft Searches

Do not just trust one comparison website. Each is sponsored by the insurance companies they represent. The companies they have on their comparison search systems are manipulated so that the ones paying the comparison search engine the most money will be presented as the cheapest when they are not. That is why you need to try a few comparison websites to get a clearer view of the best deal for you.

Try a Varied Number of Insurance Companies That Offer Soft Searches

Now you have tried a few comparison websites, you should also try a few insurance companies. Most of them have quotation tools where you are able to get a quote without it affecting your credit history. Try a few to get a less biased view of what is available for you.

A car lease advert with a small car on a calculator

What Will Affect Your Car Insurance Premium The Most

The number of cars you have insurance, family discounts, and any modifications to your car will have an effect on your insurance. Below is a list of factors that will have an effect on your car insurance. It is difficult knowing what will and will not affect your premium with each insurance company, and it is almost impossible to know how each company ranks the factors listed below. If you want lower car insurance quotes.

The Factors That Affect Your Insurance Premium

  • Where You Live Is a Factor
    – The lower the crime rate, then the lower your car insurance
  • The Brand of the Car You Drive
    – Some brands have a better safety and security record than others
  • The Type of Car You Drive
    – Some cars, such as sports cars, will cost more to insure
  • The History of the Car You Drive
    – Has that type of car been in the news because it explodes?
  • The Security Features of the Car You Drive
    – The more features means lower premiums
  • Safely Features of the Car You Are Insuring
    – The less likely you are to be damaged, then the less your car insurance premium will be
  • Your Driving History
    – If you have driven drunk or had a crash and made a claim, then you will have to pay higher premiums
  • Your Credit Rating Has an Effect on Your Car Insurance Premium
    – Some car insurance companies will charge more if you have a poor credit rating
  • How Often You Drive and How Many Miles Will Matter
    – If you intend to use the car a lot, then you will have to pay more
  • Where You Are Going With Your Car
    – Using the car for just leisure or just work is going to affect your premium
  • What You Intend to Use the Car for
    – Businesses use, pleasure, school run, Uber driver, the choice is yours
  • The Type of Coverage You Choose Will Affect Your Premium Price
    – Higher liability and comprehensive cover will cost more
  • The Age of the Car Will Matter
    – Some older cars have fewer safety and emissions features, which pushes up their car insurance premiums
  • The Size of Your Vehicle Will Matter
    – Bigger cars usually mean bigger premiums
  • How Long You Have Had Your Driving License Matters
    – The longer you have had it, then the less you will pay
  • How Old You Are Will Alter the Cost of Your Premium
    – The younger you are, then the more your insurance premiums will cost

The Gender Giggle

The new age of political correctness has screwed women over. Statistically, women under the age of 40 are less likely to have a crash or make a claim than men under the age of 40. The trend reverses after 40 where women are more likely to have a crash after the age of 40 and men are not.

As a result of the statistics, car insurance companies often charge women under 40 a lot less than they charge men under the age of 40. However, in Europe, they have decided that this counts as gender discrimination and are forcing insurance companies to charge women the same as men. So, now women under 40 must pay the same as men. What is more fun is that the new age of political correctness in the USA has led to many people calling for the same in the US. Soon, women will have to pay over the odds for their insurance premiums because of PC thugs.

third party car insurance

Minimum Liability Insurance Is Also Known As Third Party Insurance

Third party insurance is the absolute minimum level of cover you need to buy in order to operate a motor vehicle on North America’s roads. There are even forms of mini toy bikes that still need insurance if you wish to ride them on the road. Third party insurance is also known as minimum liability insurance, and it is typically the lowest level of insurance you can have to drive on the roads legally. It is the minimum level of vehicle insurance you need to drive and is in place to protect other people and protect you from being sued into poverty.

Minimum Liability Insurance Protects You Too in an Indirect Way

Third party insurance offers you protection as a consequence of its initial purpose. If you have third party insurance, then if you cause damage to another person, his or her property, or an object then the insurer will foot the bill for you. If you have third party insurance, then it protects you from being arrested and prosecuted. You will receive a large fine, at least six points on your license, and the police have the right to take your car.

Do Not Limit Yourself to Minimum Liability Insurance

It is true that it is often the cheapest insurance that is on offer, but this is not always the case. You should look at lots of different types of cover because sometimes “third party, fire and theft” is the cheapest vehicle insurance available. If you have a sports car then it may actually be cheaper to buy comprehensive insurance cover. There are even cases where an insurance company will not insure you unless you buy comprehensive insurance.

Pay Your Insurance in One Lump Sum

Assuming that third party insurance is the cheapest form of insurance that you can purchase. Then, pay for a full year in one lump sum and do not opt to pay monthly premiums. The insurance company will lower your quote if you agree to pay for a years worth of cover at the start of your policy.

Considering getting into debt

Consider Getting Into Debt to Pay for Your Insurance

Will it be cheaper to take out a loan, or use a credit card, in order to pay for a year’s worth of insurance cover? Figure out how much extra you will have to pay if you pay for your insurance monthly, and figure out how much the interest would cost you if you borrowed the money. If you make monthly payments to pay off your debt instead of making monthly payments to the insurance company, it may work out a lot cheaper for you.

Don’t Have A Crash

The more you claim on your insurance, then the higher your insurance premiums will be. The trick is not to have a crash and keep claiming. If you go out drink driving, then your premium will double at the very least. In other countries, they have a thing called a no claims bonus where you earn a bigger discount the longer you hold insurance without making a claim.

You Must Have Minimum Liability Insurance

Third party insurance is the first insurance a person in America needs to consider. It is the bare minimum insurance needed to drive a vehicle on the road. It is your civil duty to meet the requirements and rules imposed on citizens, in order to establish “liability.” Living in a society means that you must submit to all of your country’s laws, and therefore “third party” insurance remains the minimum requirement for all drivers.

People Who Want A Cheap Deal May Underinsure

In some cases, people who are looking for cheap car insurance will often choose third party insurance because, more often than not, it has the cheapest monthly premiums. This is not always the case. In some instances, such as with sports cars, it is just as cheap to insure the car with comprehensive full cover as it is to insure it with minimum liability. There are even occasions where some companies will not insure a person with anything other than full comprehensive. For example, if a twenty-three year old male has been driving for three years, and has a clean driving record, he will still struggle to find third party cover for a car such as a Smart Car Roadster.

 Damage To Other People And Their Things such as the cars

Covering Some Damage To Other People And Their Things

Minimum liability insurance covers the costs of damage to other people or property caused by your conduct. Full comprehensive insurance covers the cost of damage to the third party, the car, the driver and passengers. Full comprehensive insurance will still pay compensation to the insured person for some things. That is true even if the accident or damage was caused by their actions – in other words, it was their fault.

Conclusion – Minimum Liability Is Your cheapest Option

If you are looking for cheaper car insurance, then minimum liability insurance may be for you. You can lower your premiums further if you are willing to make a few changes. If you have just passed your driving test, then there are extra driving courses you can take to help lower your insurance premium. These often involve lessons driving on highways and lessons on how to drive in extreme conditions.

In the short term, you may reduce your premium by having a few safety features added to your car, such as an immobilizer, alarm, steering lock, etc. Many premium quotes often come down if you keep your car in a secured garage at night. The best way to get a lower quote is to contact your insurer directly and ask them what further actions you may to take to lower your premium quote.

About The Author

Ash The Great

After a varied career in different industries from the hospitality industry to the financial consultancy industry, Ash now spends his days working as a professional writer.

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