<p>Auto insurance is an essential part of financial planning, but understanding it and choosing the right policy can be tricky. There are so many different kinds to sort through, and then choose. Here are some tips to help you get the right auto policy for you:</p>
<p><img src="http://i1322.photobucket.com/albums/u579/highriskcarxd/images03_zpse10383c3.jpeg" alt="high risk insurance broker" title="High Risk Car Insurance (c) highriskcarxd" style="float:left;padding:10px 10px 10px 0px;border:0px">When insuring a teenage driver, lower your car insurance costs by asking about all the eligible discounts. Insurance companies generally have a discount for good students, <a href="http://www.Twitpic.com/tag/teenage+drivers">teenage drivers</a> with good driving records, and teenage drivers who have taken a defensive driving course. Discounts are also available if your teenager is only an occasional driver.</p>
<p>When considering auto insurance for a young driver, be sure to consider building up his or her credit, prior to shopping for insurance. This will not only assist with the new driver being able to get a possible better rate, but will also help when the young person may need other large purchases or loans in the future.</p>
<p>Knowing what coverage you have with car insurance can help you to understand what exactly you’re paying for. Things like collision coverage can cover damages to your car but only up to its book value. This kind of insurance carries a deductible. Your premium will be higher if you choose a low deductible.</p>
<p>To save money on your car insurance with a teenager in the house make sure that you only add them to the cheapest car in your driveway. Insurance ratings and prices are based on the risk the company estimates that it would have to pay out in the event of an accident.</p>
<p>To save money when pricing car insurance for your teenage driver, make sure you price out a separate policy for them and compare the cost to how much it will change the price if you add them to your current policy. In some cases, it can be less costly to have them on their own policy.</p>
<p>If you can afford to do so, save some money on your car insurance by paying the entire year’s premium at once. Most insurers will offer the option to pay premiums monthly. But this adds on a fee for the convenience, which can add up over the course of the year. You can still save by splitting the annual premium into two payments.</p>
<p>You can help your child out by adding him/her to your auto insurance as an authorized user. If your kid is a good driver, not only will he or she be able to save money on future policies, but the “authorized” label on the <a href="http://www.Answers.com/topic/insurance+policy">insurance policy</a> will also bode well for their credit score, giving them a great head start in the credit department.</p>
<p>You should merge all of the insurance policies you have on your vehicles into a single policy. Doing this can save you up to 10 percent on your premiums. It also amalgamates all your bills and paperwork into a single policy. This will make the situation much easier if you ever need to file a claim as you’ll only be using a single insurer and a single policy number.</p>
<p>Join an appropriate car owners’ club if you are looking for cheaper insurance on a high-value auto. Drivers with exotic, rare or antique cars know how painfully expensive they can be to insure. If you join a club for enthusiasts in the same situation, you may gain access to group insurance offers that give you significant discounts.</p>
<p>Think about buying an economy sedan and getting rid of your sports car. Although fast and furious sports cars are impressive, they also cost a premium to insure. An every day car is a good way to go. In fact, cars that have larger motors are more expensive to insure. Another reason it’s so expensive to insure sports cars is that they’re more susceptible to theft than other cars.</p>
<p>Find out all of the available discounts that your insurance provider offers. There may be some discounts available that you did not know about when you opened your policy. You may have to take a driver’s course of some kind but it will increase your driving skills and reduce your premiums.</p>
<p>As stated above, auto insurance is incredibly important to your current and future financial planning. It is also important to understand the different kinds to choose the best policy for your personal needs. Following the above tips, is a very good place to start.</p>
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