Your car insurance premium is the specific amount of money you pay to a company to protect you and your vehicle. Premiums are generally paid monthly, every six months, or annually and are determined by several factors, such as your driving history, age, and the coverages you select as part of your policy. Your car insurance deductible is the amount you commit to paying out of pocket for certain types of claims, usually claims filed under your comprehensive or collision coverage. An insurance quote is an estimate of how much your policy will cost, provided by the insurance company before you buy.
If you don't disclose the previous accidents you were involved in, your car insurance premium could be significantly higher than the amount quoted. The reason for this is that if the vehicle were involved in an accident, the insurance company would likely stop the car in its entirety. In general, the fewer miles your car drives per year, the lower your insurance rate will be, so always ask about the company's mileage thresholds. However, people are sometimes surprised to discover that insurance companies may also consider credit ratings when determining insurance premiums.
Car insurance costs are different for every driver, depending on the state you live in, the insurance company you choose, and the type of coverage you have. Having a clean driving record or switching to a safer car can help lower the cost of your car insurance premium. Allstate, for example, offers a 10% discount on car insurance and a 25% discount on home insurance if you combine them, so check if those discounts are available and applicable. While some factors that affect car insurance rates, such as your driving history, are within your control and others, costs can also be affected by factors such as state regulations and state accident rates.
Nationwide insurance professionals can quickly design an auto insurance quote that meets your precise needs, even for those with a limited budget. If you receive a quote from an auto insurance company to insure a single vehicle, you could end up with a higher quote per vehicle than if you requested to insure multiple drivers or vehicles with that company. Also remember to compare the best auto insurance companies to find the one that fits your coverage and budget needs. However, when planning a move, the possible change in your car insurance rate is something you'll want to consider in your budget.
When choosing car insurance, you can usually choose a deductible, which is the amount of money you would have to pay before the insurance pays the bill in the event of an accident, theft, or other type of damage to the vehicle.
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