Getting your car insured after purchasing it is one of the most important tasks, particularly if you’re new to driving. This is crucial because you might get into an accident. Car insurance is essential for a number of reasons, from covering your liability to covering any damage you might cause.
Here, the most important question to ask is: Is car insurance applicable to both old and new vehicles? The answer is yes. Moreover, if you get into an accident, your car is bound to get damaged, whether it’s an old car or a new one. That said, if you’ve just purchased a car and are not familiar with saving money on car insurance, this article has you covered. In this article, William Schantz will discuss how you can save money on car insurance. Read on.
How to Save Money on Car Insurance for New Drivers as Per William Schantz
According to Schantz, you need to follow these tips to save a good amount of money on your car insurance:
Do not Purchase Luxury Cars
Schantz suggests you opt for a compact car if you have no prior driving experience. Less-expensive cars come with a number of benefits, such as lower insurance rates than luxury cars.
In addition to that, if you’re a new driver, there’s always a risk of getting into an accident – which may significantly damage your car. Therefore, avoiding purchasing a luxury car is one of the easiest ways to save money on your car insurance plan.
Avoid Adding Modifications to Your Car
You can save a significant amount of money on your car insurance if you can avoid adding flashy accessories to it since this will change your car’s entire structure, urging you to spend thousands of dollars. Furthermore, if you have a new car, adding flashy modifications to it shouldn’t be a necessity.
Therefore, according to William Schantz, make sure you avoid adding luxury changes to your car so you can get an affordable insurance rate.
Opt for Plans with Discounted Rates
Today, you can find numerous insurance companies with a range of discounted rates, from royalty to seasonal discounts. For instance, you can get an additional discount by adding an experienced driver to your car insurance plan.
However, one thing to note here is that these discounts vary from company to company. Therefore, make sure you look into the discounted rates (if any) that your chosen insurance company offers.
Try Applying for Usage-Based Insurance (UBI)
If you have no prior driving experience, it’s advisable to consider a usage-based insurance plan (UBI). This plan assesses your driving style; how well and how much you drive. Some insurance companies also provide you with an app that allows you to assess and rate your driving skills.
Also, there are some discounts up for grabs once you’ve registered on the app. The safer your drive, the better rating you will get.
The Final Verdict by Schantz
Getting car insurance is a must after purchasing a car, whether it’s new or old. This helps you avoid paying hefty expenses, especially when you’re at fault. Instead of incurring the repairing costs on your own, it’s advisable to get proper car insurance from a well-rated, professional insurance company. That said, if you want to save a significant amount of money on car insurance, check out the tips mentioned by William Schantz.