Introduction
Car insurance, these days is mandatory and there is no way to get rid of it. No matter how old or new the car is, it should be insured to handle the unexpected expenses. At times, the dealer from whom the car is purchased offers the financing of the car along with its insurance. And at times car owner, himself seeks for the insurance of the car. Before getting it insured, few things should be checked in car for insurance.
Market value of the car:
No matter what type of insurance you are looking for, insurers will first determine its market value. The market value of the car for insurance should be checked with car dealers. Don’t assume its market value. Be practical and rationally think about the market value of a car for insurance. The best way to determine the market value is to take the car to some of the dealers (not to one) and obtain their quotes for the car. Then compare them all and decide a range of the car’s value. The value of car depends upon its make, model, year of use, mileage it has travelled and its demand.
Mechanical condition
To prepare your car for insurance, get it services first. Besides the servicing, get your car checked by a professional mechanic to know about the health of your car. There should not be any mechanical fault in the car. The car should look as new as it can be. It is necessary that car should be faultless to get better insurance coverage at cheaper rates. If there is any problem with the car or if there are chances of occurrence of any fault, get it fixed right away by a good mechanic. Besides the mechanical condition of the car, its appearance also matters. Check for any dent or paint and get it fixed too. Try to approach to the mechanic who has experience in checking the car for insurance. He can check it thoroughly from insurance perspective.
Life of a car
Checking the life of a car for insurance is necessary. By life of a car mean the total life of the car according to the depreciation. There are different ways of calculating depreciation. The value of the car is distributed over the depreciating years to determine the total life of a car. A car with more life tends to get low cost premium whereas car with shorter life period will get high cost insurance.
The use of a car
Usage of a car for insurance is also considered. Usage means the commercial or personal use. The car or vehicle used for business purpose or used quite frequently is more prone towards the accidents. So the cost of insurance for the frequently used vehicle is comparatively higher.
Color of the car:
The color of the car for insurance does not only represent the owner’s taste, but it is considered by insurers to. Depending upon the nature of the color of the car, the insurers make some assumptions. So do pay attention to the car’s color before its insurance. These are 5 common things that every insurance seeker should know.
