Charles Goodman Group: Experienced Bedford Insurance Brokers
A driver’s experience and safety record certainly plays a part in a Bedford insurance agent policy write-up, but the insured vehicle is also a factor. This fact eludes some drivers and surprises them when final policy amounts are calculated. Consider some of these vehicle attributes that either reduce or increase monthly premiums.
The vehicle’s age is one of the biggest factors in policy valuations. When a car is brand new, it costs a significant amount to repair in the event of an accident. Replacing it in cases of a total loss is incredibly expensive for the insurance company as well. If the car is 5 or 10 years old, however, costs are greatly reduced for repairs or replacement. Customer rates reflect low costs across the board for older vehicles.
Certain car models are referred to as sporty types. Sports wagons and cars are designed for speed and flashy looks. However, their design also means potential claims from racing the vehicle. If a person wants to have this flashy car, they must pay the premiums associated with it. For families on a budget, consider buying a car with less speed in its design. A compact or mid-size car is a deal to purchase and insure too.
Each year, an official list circulates from local law enforcement about the most popular stolen cars.
A trusted Bedford insurance agent from the Charles Goodman Group can assist you with any questions regarding automobile insurance or property insurance.
Vehicles are chosen by criminals for their parts value and resale ease. Insurance companies take this information and adjust premiums as necessary. If a person owns one of these popular cars, they can reduce their insurance costs by keeping the garaging location safe, for example. Unfortunately, there’s not much else vehicle owners can do to change their premium with a popular stolen car model.
All car models must pass certain safety standards, but some manufacturers add more features that stand out to insurers. Extra air bags and chassis supports are common additions. Ask a car dealer about these extras during a vehicle purchase. When insurers know these features exist in the car model, they’ll discount the policy as much as possible. They know the features will prevent major accidents producing extensive damage or possible injury. These costs are incredibly high for cars without extra safety features so those customers will see the extra prices in their monthly premiums.
If a policy seems too expensive, try to alter some of the vehicle’s factors to benefit the insured’s rates. Make room in a cluttered garage for the car to avoid parking outside overnight, for instance. Small changes make big differences in policy costs.