Car insurance: protection on the road

How much does the vehicle cost? How does it look? What about how it drives? How many miles to the gallon? Those are questions at the forefront of most people’s minds when purchasing their vehicles. Experts say often people don’t consider enough what the insurance will cost. And that’s a critical component to having any vehicle out on the road.

“A good rule of thumb is when you’re shopping for your vehicle, you can always call your agent..and supply the info about the vehicle and that can be quoted ahead of time on your insurance policy,” said Julie Bradstreet of FA Peabody Insurance.

Those in the insurance industry say it’s an old wives tale that the color of your vehicle affects your insurance cost.

“Things that go into rating of an auto policy is the persons age, the type of vehicle they want to insure, driving record is a huge factor,” said Sharon Matlock of United Insurance.

“Has to do with the value of the vehicle, so if its anew vehicle and high valued its going to be more expensive to insure,” said Bradstreet.

Bradstreet adds that vehicles with good safety features help your rates. State law requires that all drivers carry liability coverage, which would protect other drivers if you got into an accident. The state requires drivers carry a minimum liability of 50 thousand dollars per person, 100 thousand dollars per accident. Insurance providers suggest that drivers set their minimum liability coverage at 500 thousand dollars. If you’re using a loan to purchase your vehicle, banks require drivers to get physical damage coverage- this is also a good option for drivers who own their vehicles who simply wish to protect them.

“Those would provide you with coverage…comprehensive would provide you with fire, theft, glass damage coverage. Collision is you strike another vehicle on the road, you strike into a pole, those instances is where you’d get the coverage for those,” said Matlock.

These experts say as time goes by and your vehicle ages, you should continue to make adjustments to your auto policy.


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