There is a lot information available about auto insurance. But do you know everything about what goes into determining your rates? Here are some interesting facts about auto insurance coverage you might not have known.
- Auto insurance can be tax deductible when your car is used for business. All you have to do is figure how much time you use your vehicle for business purposes. For example, if you use your vehicle for business purposes 20% of the time, then 20% of your auto coverage might be deductible.
- If you purchase a low profile vehicle or low risk vehicle, your insurance rates might be lower. A low risk vehicle is based on the cost of the vehicle, plus theft and safety information. A low-profile vehicle is one that is less likely to be stolen.
- Your job can effect your auto insurance rates. For example, some companies give engineers an occupational discount. They get a discount because they are deemed less likely to have an accident. Teachers may also get a discount based on their occupation.
- Remember to cancel your old auto insurance policy if you get a new one. If you don’t, it will be reported to your credit report as “canceled due to non-payment.” That never looks good and could have a negative effect on potential discounts.
There are plenty more ways to save on auto insurance and other auto insurance facts out there. Give us a call at (800) 749-0053 or send us a message to learn more.