Insurance With the rise of financial technological advancement in the automotive industry, it has become quite easy to own a car especially when you have low premium car financing rates. But, does that necessarily mean that owning a car has become progressively safer too? The answer is both ‘Yes’ and ‘No’. The answer ‘Yes’ in a valid in a way that new cars have more safety features, which is to say, the vehicles are equipped with an Anti-Braking Locking System, etc. In addition, they have improved vehicle stability system. But, what happens if you get involved in a road accident and the worst part of it is, it was not your fault in the first place. Luckily, you survive without any injuries, but how would you deal with what happened to your car? Who would get it repaired? Where would the funds come from? That’s the part where vehicle insurance kicks in and that takes us to the answer, ‘No’. Because, despite the accident, many people are still very skeptic about getting a car insurance especially through an auto insurance agency. Let’s find out why. To start off with, many people are unaware of the fact in which insurance group do their cars fall into and how much car insurance premium should they pay for their vehicle each month to their auto insurance agency.Most importantly, majority still believes in a one-to-one conversation session with the auto insurance agency’s relationship executive referred to them by their peers or family members instead of going through the trouble of finding insurance company web online and going through the online vehicle insurance policy themselves. To make the matters even more complicated, consumers are being charged more insurance premium each month if they live in a minority area. According to a research conducted by ‘propublica.org’ where they analyzed data collected from a fewer minority background and a high minority background area having the same insurance group, they were shocked to find that minority rich background areas are charged almost four times as much compared to a fewer minority background area. In a reply to that, ‘insurance journal.com’ justified their pricing policy by commenting that differences in insurance premiums were primarily due to the fact that minority areas had more number of reported cases on vehicle theft and vandalism than less minority areas thereby concluding their policy as reminiscent to the comprehensive insurance policy.But, it still doesn’t answer to all of our questions. To make it easy for our readers on how to get cheap insurance on vehicle insurance, first rule of thumb is buy a used second hand car if you find one in a good condition unless you are a young driver who just got their driving license. Used cars can help you save as much as $100 a month on your insurance premium. In addition, take out of some of your time to conduct a brief research on insurancequotes being offered in the market. It might be possible that you find a great comprehensive insurance package with a low price insurance which may be helpful to cover your other insurance premiums too. Because, sometimes it happens if you buy insurance from a same company where you had your home, the chances of a highly discounted insurance quote may kick-in. Also, don’t forget to compare insurance costs especially for auto insurance. The chances are quite high of ending up paying a low insurance premium if you buy a normal sedan rather than a luxury saloon.
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