One of my readers decided to write to me about her own experience for when she bought her first insurance plan. You may find it interesting to read.
I can’t say I have always been the safest driver, in my earlier years I actually had a little bit of road rage. While I do obey the rules and the traffic guidelines, I cannot deny that I have also broken the speed limit and sometimes still continue to do so. Although the speeding tickets I received were only a couple hundred dollars in total, the increased price in insurance will probably cost me thousands over the years.
When I was in school, I didn’t have the need for my own insurance policy. My grandmother barely drove her car and she lent it to me anytime I wanted it. Because I got married, I no longer lived with my grandmother and I had to get my own insurance plan. I couldn’t avoid getting an insurance policy, since it’s mandatory by law.
I visited a car insurance broker once all of the paperwork was official. While discussing with the broker the options that I had, I was a little bit uneasy. She pulled up my driving record and kept giving me sideways glances over the top of her computer screen. It could not be good. I was told that I would have to pay more than average because I had all these past offences.
She was nice enough and told me about a few ways to reduce the costs. I was not eligible for a for a property insurance because I did not have my own house. However, she gave me a little discount for my renters insurance.
Several other discounts were applicable however such as multiple-car discount, a good student discount and a multiple car discount. I would also be able to get a small discount if I keep my record clean for the next year. I managed to save around a hundred bucks a month with all these discounts together.
That is when she threw in the hardest question of all- how much money do I want to save? Clearly, it was as much as possible. She told me that if I just insure my license and not my car, I could save another $500 a year. It sounded way too good to be true, but if I unfortunately got myself involved in an accident, my car would not be protected.
Insuring my license would allow me to drive in any car that I wanted to but was not going to give me any protection in the car that I was driving. Because I only had one car that I drove and it was new, I did not want to lose my investment if I got in an accident.
An insurance policy can be time consuming if you have not shopped for a policy before. One of the services I recommend is Kanetix, they provide is auto insurance quotes.
