Did you know these facts about Car Insurance?
Regarding your Car Insurance policy and the factors that affect your premiums, a few things you might not realize:
- Personal items lost due to vehicle theft are not covered by your car insurance policy. If you regularly have expensive items in your vehicle such as laptops and a GPS device, you should make provision to cover those expensive items. Keep photographs of those items.
- Auto Insurance is tax deductible for business use.
- If you purchase a low-risk vehicle, based on the cost of the vehicle, plus safety and theft data or a low-profile vehicle which is less likely to be stolen, your auto insurance rates will be lower.
- Occupation affects your auto insurance rates. Engineers get discounted rates and Teachers can also request occupational discount.
- If you switch Insurance providers, cancel your old policy, or else your credit report will reflect cancellation due to non-payment.
- Make sure your vehicle information on your Car Insurance is correct as little mistakes can make a big difference in your premium!
- Affiliation with AA and other professional organizations will lower your premiums.
- Your insurer may be liable to pay the insurance as well as sales tax or value added tax on your replacement car, if your previous vehicle was written off. Put in a request, as your policy requires that you be put in the same position you were before the accident, at no cost to you.
- The colour of your car does not affect your payments.
CLASSIC CAR INSURANCE:
For your vehicle to qualify for classic car insurance, it needs to fall in these categories:
- Veterans – cars built on or before December 1904
- Edwardian – cars built between January 1905 and December 1918
- Limited editions
Not only the age of the car counts, but also the age, experience and driving history of the driver.
Your classic car must be stored in a highly secure garage.
Even if your car is a rare vehicle, it will not qualify for classic auto insurance coverage if you use it every day.