Just have bought a new car, this car was my dream.what to do now?? Should hurry up! And get it insured. Umpphh….hang on a minute—there are so many in the air around my car. Lets have a look, well, these are little paper planes. I think I should sit down and read them first and them go and get my car insured.
1. Color of your Car:
There is a common myth that the owners of a red car pay more premium than the rest. But, its just a myth so if you are thinking about painting your red car to blue or some other color, STOP because the insurance companies will most probably not going to ask you, your car colour while calculating your quote. As the insurers are only interested in the year, body type, model, engine size and how old your car is. The color may be important to you, but it really doesn’t matter to your insurance company.
2. New car Stealth:
There is another common idea roaming around the space that thieves tend to steal new cars, but again it’s just other way around as most of the cars which are stolen are mostly old cars. This is so, because old cars are easy to steal as they are easy to unlock and drive away.
3. Car Accidents:
Many drivers only purchase collision insurance as they think that this will cover them from all the accident damages to their cars, and also including the unforeseeable catastrophes, like fire, hailstorms etc. But, this is not true as you have to get both collision and comprehensive coverage in order to fully protect you vehicle.
There is another issue regarding this that many drivers think that they never had been in an accident. If someone had been this lucky to avoid accident still you need to purchase a car insurance to avoid penalties as this now a law to have automobile insurance.
There is another myth related to car accidents as well that if you report all the minor accidents then this will cause your premium to increase. But this not so as every insurer appreciates his client to bring all the accidents to his knowledge which is claimable. As the fact is this the premium is based on the risk and the number of claim will only reveal you risk probability, that you r a risk customer. So if you don’t deliberately get into trouble then you don’t have to worry about raised premium.
4. Driving Convictions:
If you have over speeding penalties on you then no need to worry much but too much of every thing is always bad, as Court can impose a ban on you for extensive over speeding penalties. Also, if you have serious over speeding convictions and you represent a higher risk probability, then you premium might go up to 25% increase, or doubling of your premium in case . in the same way if you are speed prone and you have too many tickets on you , this will again result in creased premium.
5. Getting Insurance in some one else name:
There are certain misunderstandings that getting insurance in some one else name can get you a cheap quote. This can not help because if you think you are too smart so are the insurance companies, they have already found a solution to this as well. As for now every insurance company ask you to disclose all the number of cars in your house and then all the drivers and also, which driver drives which car. And there is a condition subsequent to this contract as if you deliberately do not disclose the true facts then, you cover becomes invalid.
So, before going to an insurance company and before buying any insurance for your car, bear all these points in you mind as you would never want a raised premium or simple invalidity of your cover.