The insurance business is not well understood by most people. There are several little-known car insurance facts that are quite interesting. And many of these facts play a determining role in how much you pay for your car insurance.
One of the little-known car insurance facts is that any theft of your personal property is not covered. Your home owners’ insurance may pay. If you typically leave expensive items in your vehicle, you may want to consider a rider on your insurance to cover them.
Another of the little-known car insurance facts has to do with your taxes. If you use your vehicle in your business travel, you can deduct the percentage of your insurance costs that covers the percentage of the time you use that vehicle for business. Consult with your tax professional to be sure of this process.
Buying a vehicle that is less likely to be stolen may lower your insurance rates. This is one of those little-known car insurance facts that may be of financial benefit to you. There is a web site that the Insurance Institute for Highway Safety hosts that can help you determine your relative risk.
Another of the little-known car insurance facts is your profession may have a bearing on your insurance rates. For example, teachers can typically get a discount on car insurance. Check with your insurance professional to determine if you qualify for this kind of discount.
Several states allow a discount on your car insurance rates if your vehicle has been in an accident and has been repaired. This lowers its value compared to a vehicle that hasn’t been in an accident. This discount is only available if the accident was not your fault.
Make sure the information about your vehicle is accurate on your insurance policy. Any inaccuracies, even small ones, may make a significant difference in your rates. This kind of mistake is fairly common. Just another of the little-known car insurance facts.
If your friend borrows your vehicle and gets into an accident, you will have to file the claim. This is another of the little-known car insurance facts that can have an impact on you financially and in how much you pay for insurance.
This information about little-known car insurance facts has been brought to you by Corriveau Insurance Agency. We’re an independent insurance agency in Nashua, NH. We’re a family owned business since 1912. Call us for a review of your insurance needs. Call 603-883-5528 today!
