You are on your own. You are getting your first car. What do you need? You just graduated, you are out on your own and you are buying your first car.
Requirements. Deductibles. Discounts. How do you figure it all out?
State Car Insurance Requirements
Understand that nearly every state requires some form of financial responsibility from drivers. Most states require a minimum amount of insurance
- Bodily injury coverage: This covers injuries suffered by another person during an auto accident.
- Property damage coverage: This covers damage to another person’s property during an auto accident.
Car Insurance Deductibles
Those are the out-of-pocket amount of money a driver pays before his car insurance coverage will kick in to pay a claim.
Typically, the higher the premium, the lower the deductible, and vice versa.
Factor that goes into determining your Premiums
- Current driver license status.
- Any traffic violations (including the associated driving record points).
Your vehicle. This includes factors such as:
- The make and model.
- How at risk the vehicle is for being stolen or vandalized.
- How much it would cost to repair the vehicle.
- How many (if any) safety features the vehicle has installed.
- The vehicle’s overall safety rating.
Where you live.
How often you drive. Vehicle owners who don’t drive much tend to get lower rates than those who spend a lot of time behind the wheel.
Your credit score. Many auto insurance companies determine factors such as how likely you are to make payments on time or file a complaint based on your credit history.
The Sanford Group serving Ball Ground, GA understands what it’s like to start out, and they are there to guide you through the process.
