Updated: May 2016
Whether you're a first-time car owner, parent of a teen driver, or just a savvy shopper comparing insurance prices, your insurance needs may be slightly different depending on your situation. Here are some factors to consider as you compare car insurance for different stages of your life.
It’s a great feeling to adjust the seat and steering wheel “just so” on your very first car. However, that excitement also comes with some significant financial responsibilities. It’s important to be sure your car insurance adequately covers possible damage to your new-to-you vehicle — as well as other people’s property and possibly medical bills and more — in case you’re ever found responsible for an accident while driving.
It makes sense to reassess your finances from time to time — and that may include shopping around for car insurance rates. However, getting an online insurance quote may require you to be more familiar with your insurance coverage choices than you might think. Here’s a primer on the types of coverage included in a typical auto policy.
You might qualify for a multi-car discount if you and your new spouse merge your car insurance policies. It could make sense to review both of your policies and see if it helps save you any money to switch to a single, shared auto policy.
It's actually possible to insure your teenage driver without breaking the bank. It may seem tempting to eliminate certain types of coverage and increase deductibles. However, those methods may not be the smartest way to save money with a teen on your policy. Consider adding your teen to your existing family policy to help cut down on the cost of car insurance.
If your reliable, older car is still running strong, you may be able to save some money on your car insurance. If you own the car outright (without an outstanding loan), you might trim your insurance costs by adjusting some coverages or increasing your deductible.
You don’t have to navigate the ins and outs of car insurance on your own. A local agent can help you determine which options make the most sense for you and your car.