1. Of foremost importance, consider car insurance before and while purchasing a vehicle. Keep in mind that certain types of vehicles are going to result in higher rates. A good rule to know - sports cars will usually equal higher insurance rates. Also, it may come as a surprise, but a cheaper car does not always mean cheap insurance. Coverage for a BMW 3 series is less costly than insurance on a Honda Civic.
2. Do not purchase unnecessary coverages. For example, carrying collision coverage on an older vehicle with less value is not recommended. If a new driver has an older vehicle the cost of this coverage may not justify the payout amount in the event of an accident.
3. Take advantage of discounts.
4. Keep a good credit rating and watch premiums plummet. Many car insurers are using credit as a major factor in determining auto insurance rates. This is becoming more of a factor while car insurance, like credit, becomes a bigger investment risk. Along with a maintaining good credit, once a plan is purchased new drivers should do their best to maintain a good driving record as this will help lower insurance premiums down the road.
5. Most importantly, make sure to buy the proper coverage. Royce Williams advises against taking the basic or minimum state limits just to save money. The minimum limits in the state of Tenn. are
Royce Williams, principal of
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