Your quest for a good auto insurance policy for the family car starts with shopping for insurance. Don’t ever make the mistake of settling for the first quote you get, there are options in the market and you should make use of them. Approaching an insurance agent or broker was the way to go, and for decades they have been helping people derive multiple quotes and save hundreds of dollars. However times have changed and the winner’s choice are websites run by insurance companies and private parties hosting sites where you can get multiple quotes in a fraction of the time. Online quotes are faster, simpler, and save effort spent in traveling to different insurance agents.
Auto insurance company’s website
Websites like these are funded, operated and maintained by an insurance company. You can request a quote from only that company at a time, and its scope is thus limited.
Comparison websites
Websites such as these do not belong to an insurance company and are run by a private company who earn a commission indirectly from insurance companies and for the advertisements they host on their site. They can provide you up to five results side by side making comparison easy. It’s suggested that you request a minimum of 10 quotes so as to ensure you don’t miss out on a great deal.
Family auto insurance
Insurance premiums are calculated based on the specifics of the driver such as the age, sex, and marital status. The premium for a family where the father mother and teenage children are all part of the plan will be calculated on the basis of the highest risks, which are the teenagers. The parents if within the age of 25-55 will attract the lowest premium, since they are in the age group that statistically proves it self to have the best drivers. However teenagers between the ages of 16-25 and senior citizens after the ages of 55 tend to be at a higher of meeting with an accident, and hence the premium will be higher if you have either in your insurance policy.
Separate policies or one
Most people tend to think that if their children or parents drive their own cars they need to buy separate insurance policies, this isn’t the case. They can be added onto your policy. However this isn’t always the best solution, the hike in your premium will be far above the ground and it just might be cheaper to take a policy for the children and your parents separately.
Coverage options
Since the vehicle will be operated by people in the high risk category, it’s sager to have strong cover. Liability insurance will cover all medical bills which can really be mandatory in the case of senior citizens whose checkup after an accident itself could cost a few hundred dollars.
Collision cover which will protect from accidents that are their fault is essential. Another wise investment is property damage cover, which will protect against any property they damage. Comprehensive cover is optional, but recommended and will protect against non collision damage like vandalism, careless accidents like backing up into the garage door, and even acts of nature. These might seem excessive, however its better to spend a few hundred dollars on a good insurance plan, than a few thousand on repairs.
Tips to drop prices
Good students and seniors alike qualify for many discounts, such as low mileage discount. Taking additional driver’s Ed courses is also a good way to decrease premiums.
