The law requires that owners of vehicles have auto insurance, but the types of policies and coverage amounts can significantly vary and are based on a number of factors. Before choosing a policy, here is exactly what you need to know to get the best rate available.
Understand How Premiums Are Determined
Insurance companies use a number of factors such as – age, accidents, traffic convictions, type of vehicle, mileage driven, and territory where you live.
There are a number of optional endorsements, referred to as Standard Endorsement Forms (SEF) that can be added to an auto insurance policy which determine the premium such as:
- SEF18 Replacement Cost Endorsement
- SEF 20 Loss of Use Endorsement
- SEF 27 Legal Liability for Damage to Non-Owned Automobiles Endorsement
- SEF 35 Emergency Service Expense Endorsement
- SEF 39 Accident rating waiver
- SEF 43 Limited Waiver of Depreciation – Owned Vehicles
- SEF 44 Family Protection Endorsement Including Supplement Endorsement
Know What Discounts Are Available
We can help lower your rate by maximizing your discount opportunities. Some of the common discounts available are:
- Multi-vehicle policies
- Driver training course
- Short commute
- Mature driver
- Hybrid vehicle
- Anti-theft device
- Customer loyalty
Know the Basic Coverage Requirements
Liability coverage is what will pay for a legal claim that has been filed against the policyholder if they have caused or are in some way responsible for a motor vehicle accident that has led to damages or injuries to another individual. Accident benefits are what will cover medical costs, income replacement, funeral expenses or death benefits to the occupants of a vehicle involved in an accident.
Trust the Professionals at Bow Valley Insurance
Let us do the shopping for your auto insurance policy to get you the best possible rate.
As professionals serving the insurance needs of our community since 1979, we know how to get you the coverage that you need at the best rate – we will even show you the comparisons. We will also maximize your discount opportunities, identify the coverage that you need and explain the various policies available so that you can make an informed decision.
Ask us for an auto insurance quote and see how much you can save. It’s fast, free and there’s no obligation. Call 403-297-9400 today!