Important Car Insurance Information
Car insurance is mandatory in most part of the United States. Each state has laws about how much coverage is needed. You want to find an affordable plan, but you need to at least have liability. Listed below are some things you should know about car insurance.
Car Insurance is Usually Mandatory
Car insurance is mandatory in almost every state. New Hampshire and Virginia are exceptions, but you do need to provide proof of financial security if at fault in an accident. Several factors will affect what you pay for the policy.
Your Car and Rates
The Highway Loss Data Institute and other similar organization compile accident statistics. They can provide statistics on different types of cars. Insurers use this data to determine prices. For example, if your car is known for costly repairs, then that fact could affect your rate. But also, if your car is safe, the insurance company might provide a discount.
These are just a few facts concerning car insurance. Talk with an insurance agent for more information. And remember, you likely live in a state that requires car insurance. Find out that important information as soon as possible. Driving without insurance can result in a ticket or losing your license.