Car insurance is a major expense when you are working with a tight budget. It is possible to get cheap car insurance for women without losing the benefit value of the insurance. Comprehensive car insurance is a must, especially if you are a single mother and have to rely on your own transport. Minimum third party car insurance is compulsory by law, but only covers your liability to others who might have been affected by your driving. It does not cover repairs or replacement of your vehicle. The scope of car insurance cover is your personal choice.
Facts About Insurance in General
You should never be misled about insurance. You need to have insurance coverage to safeguard both lives and your possessions when it comes to loss or damage, but insurance companies are in the business for the money. They quite naturally have different rates of insurance. Rates are calculated according to risk factors. Vehicle accident and theft
statistics reveal the most relevant risk factors. Interestingly enough, women drivers are a lower risk for severe accidents involving deaths and vehicle “write-offs”.
Risk Factors Affecting Insurance Rates
Risk factors are those things that increase the chance that you will make a claim. Different states have different models and criteria for calculating risks. Both human and vehicle factors are taken into consideration. A mix of the following factors are used to calculate rates:
* Age of driver very young drivers will be inexperienced. Very old
drivers might have slower reaction times.
* Years of driving experience
* Driving track record. This indicates to brokers, your personal level
of responsibility as a driver. History of speeding, driving under the
influence of alcohol, using a cell phone while driving, running red
traffic lights and not using a seatbelt are the most common negative
factors in your records.
* The area in which you live
* Where the vehicle is parked at night and if it is locked up.
* What you intend using the vehicle for and how far you need to travel.
* Your credit rating could influence insurance costs. A good credit
rating shows you are a responsible person.
* Make and model of your vehicle. Some vehicle makes are not as safe
to drive as others. Other vehicles have a higher risk of theft.
Vehicles with the highest safety rating have the lowest insurance.
Think of this before buying a car. You can find out which vehicles
have the best safety performance by visiting the Insurance Institute
for Highway Safety (IIHS).
1) Car Insurance for Women Under 25
All drivers under the age of 25 are considered high insurance risks. Insurance companies offer some cheaper policies if the driver meets certain restricting criteria such as, not driving after dark, driving a safer model of car or not traveling with passengers.
As a woman under 25, you can qualify for considerable discount if
* you are a single mother
* you are married with children
* you live in a zip code area where accident rates are considered low
* you have no traffic violations over the past 3 years
These factors are considered to lower your accident risks.
2) Car Insurance for Women Over 50
Senior drivers can often get retirement discounts. Discounts are awarded because older people tend to travel less. These discounts will obviously depend on your driving and insurance record also. Multi-line insurance, (where you insure your house and car etc with a single broker), and multi-car discounts will be available.
3) Car Insurance Quotes for Women
Before looking for insurance, decide on the extent of the coverage you would like to negotiate for. You can reduce your insurance costs by reducing your cover. If you do this, you will not be covered for everything. Make sure you will be covered for your specific insurance
needs. If you are paying off a car, you automatically have to have both collision and comprehensive cover.
When you are looking for car insurance, do not buy the first insurance you are offered. Ask for quotes. When asking for quotes, ask the broker to be very specific as to what eventualities will to be covered with each quote. Once you have your first quote, you are equipped with a baseline for other quotes and can negotiate over each point.
Get quotes from all the major insurance brokers in your area.
Ask for discounts. Ask each broker what discounts they offer.
Compare them so you can see which will really be the best deal for you.
If you have not yet bought a car, get quotes for the makes and models you might be interested in. The quotes will vary considerably.
Quotes are available online so it is quick and easy to compare. You will need your zip code for online quotes.
4) Compare Car Insurance for Women
One of the best ways to get cheaper car insurance, is to shop around. A very good time for this, is when your insurance payment is pending. You will receive a reminder from your current insurance broker with their offer. With this offer in hand, go online to several other brokers and compare prices for the equivalent benefits. Insurance companies will often give you a better offer to “win” a customer. Always ask for discounts when either getting quotes or comparing insurance offers, and when you decide to continue with your present broker.
5) Discounts Available for Car Insurance
You should ask specifically for a discount in any of the following fields if they apply to you personally if you:
* do not travel much
* have owned your present car for more than 3 years
* have a good driving record. Even if you have some bad entries,
If they were more than 3 years ago, you can still claim discount.
* have attended an advanced driving course
* have multiple car insurance
* have combined coverage policies including your house and your car etc
* are a senior citizen
* are a single mother
* have been insured with a particular broker for a length of time, a
loyalty discount should be in order
Find out from your broker if they will consider any of these points.
6) Best Car Insurance Companies
There are many car insurance companies. The best insurance companies in your particular area could be different from the best companies nation wide. Many insurance companies are locally based and could give you better overall cover and service. You can find the best ones by comparing notes with your women friends in your area. Check these out first. The top 5 car insurance companies nationwide are as follows:
* State Farm Mutual
* Berkshire Hathaway Inc (GEICO)
* Nationwide Mutual
These companies will give you a starting point in you search for the best insurance cover for you.
7) Do Women get Cheaper Car Insurance?
The answer could be either, “Yes”, or “No”. You will not automatically get cheaper car insurance in the US just because you are a woman. However, when you know how to negotiate for cheaper rates and what factors the insurance companies might consider when awarding discounts, you, as a woman, can get cheaper insurance.
Your most effective way of being awarded cheaper car insurance cover, is to be a good, considerate and responsible driver.
You can also get cheaper car insurance if you increase your “voluntary excess”. This is the amount you are prepared pay in event of an accident, before claiming from your broker. The risk factor of the insurance broker is reduced by increasing your “voluntary excess”. You
will be rewarded with cheaper insurance rates.
In order to get cheap car insurance for women, you need:
* to be aware of your insurance rights
* know areas that will give you negotiating leverage for cheaper rates
* shop around several companies
* drive safely.
Your driving record is your greatest asset for acquiring cheaper insurance rates.
Never just go for the cheapest rates around. Look for good value for your money. If one company quote is much cheaper than other companies, it probably does not cover all eventualities. Read the small print, know what you want to be covered for and what you are paying for. Do all these things, and your reward will be cheap car insurance for women.