Car Insurance -- Things You Ought To Know

By buying a car insurance policy, you are entering into a contact with the insurance company. Under the contract, the insurance company agrees to pay your losses if your car meets with an accident. Your part of the contract is to pay the premium.

Car insurance covers property, liability and medical coverage. Damages or theft to your car are paid by property coverage. Your legal responsibility for bodily injury or property damage caused by your car is taken care of by liability coverage.

The cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses are taken care of by the medical coverage.

Majority of the car insurance policies are valid for six months to a year. When the validity is over, you must renew the policy.

All states require you to have some form of car insurance if you own or operate a car.

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The penalty for driving a car without insurance is different in different states. Compounding of the car is done is some states. There are heavy fines in some states. You could be in serious trouble if you car is involved in an accident without insurance. You will be financially responsible for paying for any injuries or damages out of your own pocket.

Your credit history, the age and type of your car are also vital factors in determining the rate you have to pay for car insurance.

As the owner of a car, you are responsible for providing insurance for the car, no matter who is operating the car. Your car will be operating illegally if it does not have insurance.

Finally, a few savings tips...

1. Marriage is something that will do your auto insurance rates a world of good. This is true even though you can't just go off to marry just because of this. Insurers have statistical data that show that people are less reckless and much more careful on the road when they get married. Insurers will tell you that their records show that married people make fewer claims. Furthermore, when they do make those claims, they usually cost less on the average than those married by their unmarried counterparts.

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2. If you want to keep your rates down, do NOT "pimp your ride." Doing such reduces your car's safety and, therefore, warrants higher rates as far as the insurer is concerned.

3. Before you get carried away with the few hundreds you will save on a house, check if it will not cost you much more in auto insurance. Do you know also know that homes within the same neighbor might actually fall into different risk zones according to the insurance industry's mapping?

So check with your agent before you commit to a new home. I know: That isn't usually an issue when you're looking for a home but it's really important.

Remember, you might live in this home for up to 20 years or more. If its location makes you pay up to $200 more in premium, that will add up to $4,000 within that time frame.

4. If you must quickly get something inside, turn your car off, lock up and pocket your keys. Don't leave your car unlocked and running. The only easier thing for a thief would be if you handed over your keys as a gift. Car thieves are known to go for easy targets. And what could be easier than a car that's ready to be driven away -- It takes just seconds.

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5. A good alternative for you is to use your parents' auto insurance policy. If you're of driving age, then your parents certainly are far above 25 years which means they are better risk drivers.

To take advantage of this though, you'll have to live with your parents and also have the car registered in their name. This means that by law they own the vehicle. If the benefits of "independence" outweigh your car insurance savings then this is certainly not an option for you.

6. You will save much money in auto insurance if you get and compare auto insurance quotes from quotes sites. You will realize savings if you use just one of such sites. However, you will get more by using at least five.

The plain logic in this is that you'll receive a greater number of auto insurance quotes from many more insurance companies. This increases your chances of receiving better rates.
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