When it comes to your car insurance coverage, knowing every detail about your policy can mean a lot in the event you are involved in accident or experience theft. However, there are some facts you may not be aware of when it comes to your policy that could not only help to save you money, but also allow you better coverage.
Cell phones, GPS trackers, and CD players are examples of personal property you may have in your vehicle. Personal property like is not covered under your auto policy. In most cases, these kinds of personal property are listed in your homeowners policy. Check with your insurance agent about coverage additions.
You may have heard the color of your vehicle affects the price you pay for premiums. While color does not matter, the make and model of your vehicle, however, is a determining factor in the rates you qualify for. Low profile and older models generally are cheaper to insure.
If you use your automobile for business reasons, you can use some of the insurance coverage as a deduction on your tax returns. Many drivers calculate a percentage of the mileage. However, choosing a flat reimbursement per mile is usually the best way to claim this deduction.
The kind of occupation you have is another factor that can affect the price you pay for premiums. The employment you have that is deemed for those people most responsible can help you pay less for your coverage. An occupation like being a teacher will allow to pay less while a musician in rock band will not get the same lowered rates. Talk to your insurance agent about the occupation you have and how it affects your policy premiums.
Making sure you list the fine details about your car correctly on your policy is important. The number of doors you have, the exact mileage on the odometer, and model name are common parts of a vehicle drivers make mistakes about when getting their policy. You might also ask about the lowered premium rates you can get concerning diminished value if your vehicle has been wrecked and repaired.
Keep in mind the number of discounts you may be eligible for when you are obtaining a policy. You might also keep in mind reimbursement fees your insurance company is responsible for as well like the cost of a replacement vehicle in the event yours is totaled in an accident. Knowing these kinds of details can save you a lot of money in the future.