Classic Car Insurance And Why You Need It
Classic car insurance is not the same as run-of-the-mill insurance for older cars. Just like a 1966 Ford Mustang isn’t the same as a 1995 Ford Festiva, classic auto insurance is different.
With older cars auto insurance is usually liability-only. The car is often paid for and there’s no need to satisfy a bank or lien holder with full coverage. Repairing an old beater is usually more trouble than it’s worth.
Multi Car Insurance: Discounts for 2+ Autos
Most consumers know insurance companies offer car insurance discounts. However, not everybody knows what companies offer discounts for. There are safe driver discounts, car alarm discounts, even good student discounts. One of the larger discounts insurers offer is the multi car discount.
Getting multi car insurance, also known as the ‘multi-car discount’ can turn into big savings on your auto insurance premiums. To get the discount, companies either add cars to the original policy or combine single-car policies. By insuring multiple vehicles, insurers can charge less premium to a family. Either way, that translates to savings for you.
Temporary Car Insurance: When & How To Get It
if you’re only driving every once in awhile, temporary car insurance may be sufficient. “Temporary insurance” is a term used for short-term policies. Technically, every insurance policy is temporary because it only lasts until your next renewal – 6 months or a year down the road.
However, short-term policies are used to cover drivers in situations not-deemed permanent by insurance carriers.
Monthly Car Insurance: Paying Once a Month
Auto insurance policies are contracts that usually last for 6 months or a year. If something happens to your vehicle that is covered in the policy (aka covered peril) during that time – and you’re current with your premium – the insurance company should cover the loss.
However, just because the policy is a 6-month contract doesn’t mean you have to lay down all that cash when you sign up…
Will Your Premium Go Up If You File A Claim?
So you’ve had an accident and you may need to file a claim? But you’re worried about the effects on your next renewal. Will your insurance go up or will it stay the same?
It’s a no-brainer if your premium stays the same – file the claim. But if your rates go up, isn’t that where the insurance company gets their money back? I know what you’re thinking because I ask myself the same questions.
