Which of the Following Should Reduce Your Auto Insurance Premium

Because most traffic accidents occur close to home the area you live in greatly affects your rates. Value of the insured vehicle.

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Comprehensive other than collision Question.

. One cannot eliminate risk with insurance. A three year old television D. Getting good grades in college.

Sally was driving her own car and collided with a pickup truck. Drivers who have an accident or moving violation speeding DUI etc on their motor vehicle record are more of a risk for auto insurers resulting in higher car insurance rates. Sally sustained 125000 in injuries and her passenger sustained 10000 in.

If you live in a rural area your auto insurance premium will likely be lower than if you live in a city. A quoted a 1 premium for a limit of 250000 dollars while Insurance Co. A diamond necklace valued at 25000 C.

Younger drivers have less experience and pay lower premiums c. Which of the following should reduce your auto insurance premium. The best way to go about this is to get a list of safety equipment that will result in a lower car insurance premium from your auto insurance company.

Insurance companies often reward you with a discount if you drive a car with a better safety rating or certain safety features. Which of the following should reduce your auto insurance premium. Set higher deductibles on your auto insurance.

In general young drivers under 25 and elderly drivers over 70 have more frequent and more serious accidents C. Before you buy a car compare insurance costs. Move from a farm to a city E.

Three months in a hotel after a house fire B. Maintain good grades in high school. A fire that damages your neighbors roof that was caused by a spark from your grill E.

Decrease your deductible b. While taking a high deductible can reduce your car insurance rates be sure to have the funds on hand in case you need to file a policy claim. Car insurance premiums are based in part on the cars price the cost to repair it its overall safety record and the likelihood of theft.

Before you buy a new or used car check into insurance costs. The higher your deductible the amount of money you will pay out of pocket in the event of a claim the lower your premium generally is. Maintain good grades in college.

Celebrate your 70 th birthday B. The more miles you. Which of the following should reduce your auto insurance premium.

Once you do be sure that any car you buy incorporates as many as possible. The higher the value of the car the higher the premium b. In general young drivers under 25 and elderly drivers over 70 have more frequent and more serious.

Pay your speeding tickets immediately c. Which of the following should reduce your auto insurance premium. Increase your number of claims e.

Insurance is protection against possible financial loss. Which of the following is a factor that will affect your auto insurance premium. FINN 1003 CHAPTER 8 1.

A common way of reducing insurance premiums is to add or increase a deductible. Multiple accidents or traffic violations can increase insurance rates D. Get good grades in college D.

Assuming everything else is the same between both companies and policies which company would be. Insurance is protection against possible financial loss. For instance a built-in anti-theft device could help lower your Geico comprehensive premium by up to 23 and daytime running lights could lower your cost for some coverages by 3.

They are sometimes applied to property damage claims covered by liability policies. Get a speeding ticket C. Insurance is a risk-sharing business.

If you live in a rural area your auto insurance premium will likely be lower than if you live in a city B. Car insurance premiums often drop if you take defensive driving and if you lose weight or give up smoking you may be able to lower your life insurance premium. Property damage liability d.

Deductibles for collision and comprehensive typically range from 250 to 500 said Walker. To reduce auto insurance premiums as your car depreciates in. To reduce auto insurance premiums as your car depreciates in value your car is only worth 800 you should consider self-insuring which of the following risks.

Typically deductibles range from 0 to 1500. Medical costs for a visitor who slipped on your steps and broke his ankle. Samuel should buy insurance in order to eliminate his risk.

Homeowners insurance covers all except A. Add or Increase a Deductible. A security system passenger and rear seat airbags and anti-lock brakes.

Many insurers offer discounts for features that reduce the risk of injuries or theft. Deductibles are a type of self-insurance and are commonly included in property and auto policies. Bodily injury liability b.

Multiple accidents or traffic violations can increase insurance rates. How much your rate decreases depends on your previous driving history if you are a man who has never been in an accident and has a clean driving record you could see your rates nearly halved. B priced premium at 5000 a limit of 250000.

Suppose a person wants to buy auto liability insurance and in doing so consulted two insurance companies. If you drop comprehensive and collision on an older vehicle it can be a smart choice she said. Periodically ask about discounts.

Generally a minor violation such as a speeding ticket can affect your rates 20 to 40 percent.

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