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Ensuring the Best Rate and Coverage

When you shop for auto insurance, it’s a good idea to gain a general understanding of insurance rates and the coverage that works for you.

Why You Pay What You Pay*
Several factors influence your car insurance premium.
  • Your driving record (or Motor Vehicle Report) contributes to your rate. Essentially, the better your driving record, the lower your premium.
  • Your age, gender, and marital status also affect your premium. The more driving experience you have (and consequently the older you are), the less likely you are to cause an accident. Gender also factors in; statistics show males are more likely to be in an accident. And, finally, married drivers are less likely to be involved in accidents than singles.
  • Where you live will impact your premium. If you live in a city with high traffic, your premium may be higher than if you live in a rural area.
  • Your vehicle might play a role in your rate as well. If you have a car that is newer and that scored well in crash safety tests, you may receive a lower rate.
How You’re Covered
There are various auto insurance policies available, but you’ll find some key options below. When choosing policies, take a close look at the deductibles and choose one you can afford. If something should happen and you can’t afford the deductible, the insurance would be rendered useless.
  • Liability Insurance. Mandatory in every state, liability insurance covers damages to another person and their property when you are at fault in an accident.
  • Collision Coverage. This policy covers the repairs to your car in the event of a covered accident.
  • Comprehensive Coverage. This covers items unrelated to a car accident such as weather damage, a stolen vehicle, or even hitting a deer.
  • Personal Injury Protection. This covers medical bills for you and your passengers no matter who is at fault in the accident.
When You Start Looking
As you begin your search for the right coverage, consider getting a free quote from TruStage Auto Insurance Program. FORUM has joined with TruStage to provide credit union members with discounted rates, online services, and 24/7 claims service. You can also call 855.483.2149.

Posted: 3/17/2015 with 0 comments

Categories: Insurance

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