Car shipping requires you to have a good auto insurance that covers you in case of accidents, however there are some details you should be aware of before you make that step. The price of your auto insurance may vary depending on a few things, such as your marital status, age, location and the vehicle you drive. These are factors that are statistically used by insurance companies to gauge their specific price toward you personally and the people in your social group as well. There isn’t much you can do about your age, however you can choose to drive a vehicle which falls within a group that requires less to be insured than others. The following tips will give you some basic understanding of what you might be dealing with when you decide to insure a vehicle meant to be driven or shipped to another location:
Insurance Coverage Specifics:
What does your car insurance cover in most cases? You could chalk up a few factors to the final costs of what it covers, but in the end it is essentially always the same:
Bodily Injury Liability covers cases of death and injury against you and the legal costs attached to that if your car happens to harm or result in the deaths of anyone involved.
Property Damage Liability covers the claims on damages done to the surrounding properties due to accidents. This liability protects the other party in all cases and it is a requirement in almost all states across the US.
Medical Payment covers the injuries done to you and others riding in your car at the time of an accident. Depending on your state this can be an optional part of the insurance, instead replaced by a personal injury protection policy.
Uninsured Motorist Protection covers the injuries done to you by uninsured or the eventuality of a hit-and-run scenario where the other party can’t be identified and held accountable. You might be surprised that up to 30% of state drivers are uninsured and thus a protection of that sort is a really good idea.
Collision Coverage covers the book value of your vehicle. It also carries its own deductible, which is a set amount per claim you must pay before you can make use of the insurance. The lower your deductible, the higher premium you’ll have in the end.
Comprehensive is a type of coverage which takes acts of vandalism, fire, floods, wind and even theft. All of these are non-accident related such as car crashes and the comprehensive also carries its own deductible.
If you want to insure an SUV or a sports car you should be ready to pay more for its insurance than you would with other vehicles. The insurance premiums you’ll be dealing with will be mostly based on the cost of the vehicle in question, which in term will affect the costs of replacement due to theft or destruction in a car crash. The cost of maintenance and repairs could also affect the cost of insurance as well, plus you may have an added cost if the vehicle is of a make that gets attention from car thieves or has a history of accident involvement.
You could contact the Highway Loss Data Institute for more information on injury claims, repair costs and the theft rates of your vehicle by either writing to them or contacting them online if you need to. The HLDI mentions that large vehicles have the lowest injury claims, cars and pickup trucks as well as SUV’s have the advantage in such matters. Keep these in mind when you’re choosing your insurance and as as many questions as possible to get the most out of the experience.