First time auto insurance

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

  1. Bodily injury coverage: This covers injuries suffered by another person during an auto accident.
  2. 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.

At What Age Should I Take Life Insurance?

It’s recommended that you purchase your life insurance plan as early as possible. Life events like marriage, getting children or running your own business play a great role in determining when you need a life insurance plan. Generally, the earlier you buy the policy the lower the costs you’ll incur in premiums. Most companies in Ball Ground, GA such as The Sanford Group recommend that their customers secure life insurance plans before the age of 35 years.

Are you thinking that you are too young to get your life insurance policy? If so, you should think again. Purchasing your life insurance coverage early not only helps you save on costs but also protects you from unforeseen risks. Even though there are numerous factors that determine how much your premiums will cost, age is one of those vital components. As a result, the younger one is the less they will likely spend.

Reason life insurance costs less at a younger age

When considering an applicant, life insurance companies focus on the applicant’s risk levels, and the risk for life insurance policies is the applicant’s demise. This means that if the applicant is younger, the chances of passing on are less. Obviously, in case the insured passes on when they are still young, the insurance company will have to pay out. This is not the only risk an insurer faces. The other risk is the duration the insured holds the plan. Most people like canceling their life insurance policies whenever they want. Most people even cancel the policies before making a claim. When canceled, the insurer keeps all the premium payments. Moreover, the longer a young person holds a policy, the more the insurer will earn.

You need to get your life insurance cover as early as possible so as to pay less in premiums. If you live in Ball Ground, GA area, contact The Sanford Group for more information.