How to Insure a Mini Cooper like a Tightwad
If comparing car insurance was easy, most of us would do it more often. But the reality is, you probably don't enjoy it and you think it costs too much. You might feel the same pain when having to pay the bill on your Mini Cooper.
Step One: Compare Multiple Rates
The old-fashioned method of shopping for car insurance included visiting several local insurance agents and being on the receiving end of a hard sell tactic. But you can now comparison shop and buy direct online!
Almost every car insurance company now offers online quotes, and you can actually get insurance quotes for a Mini Cooper without even visiting their websites!
Simply click the link below to start a quote that will compare rates from many companies and you may find a lower rate than you're currently paying.
Important Tip! In order to accurately compare rates for your Cooper, it's critical that you use the same limits and deductibles for liability and physical damage coverages like comprehensive and collision. If you use different limits, you will not be able to accurately compare rates between carriers.
Step Two: Insider Tips for Finding Cheaper Cooper Insurance
After completing step one above, you can now learn some of the other ways to slash your Cooper insurance costs.
- For some reason, car theives target particular makes and models more than others. If your Cooper is on the list of the top stolen cars, you might want to install an extra theft deterrent system just to be safe.
- If you are a senior citizen or belong to a particular professional organization, you may qualify for a break on insurance.
- Smaller claims that hardly exceed your deductible are better off not being filed with your insurance company. Policyholders with no claims enjoy lower rates than those who frequently file claims.
- Bundling your auto and home insurance with the same company can often get you a discount, and just being a homeowner in itself will get you a lower rate.
- Safety features such as antilock brakes, traction control and air bag systems all help reduce the cost of car insurance by keeping the passengers safer.
- If you have a period where you don't have any insurance coverage, that's called a lapse. The longer the lapse, the more you'll pay to reinstate coverage.
- A single speeding ticket can cost you several hundreds of dollars over the next three years thanks to increased car insurance rates. Slow down and drive safely.
- Consider taking a defensive driving course. You can often make up the cost of the course in as little as a single policy renewal.
- If you're a young driver, you will pay more to insure a Cooper. There isn't anything you can do about your age, but rates will drop as you mature.
- How is your credit rating? The better credit you have, the less insurance will cost for your Cooper. If you have bad credit, work on improving your credit score and repair past credit problems.
- You can save money on your physical damage coverage (comprehensive and collision) by increasing your deductibles. Higher deductibles mean you are willing to pay more before the insurance company covers a claim.
Step Three: Choose the Right Company for You
Now that you hopefully have several rates to compare and have made any changes needed to your individual coverages, you can choose the best company to insure your Cooper with.
Car insurance policies don't have to be cancelled at the renewal date, but just be sure the new policy starts the same day you cancel your old policy. This avoids any gaps in coverage between policies.
Before you drive your Mini Cooper home, make sure you have a current car insurance policy in force. Coverage will extend to the new purchase from your policy, but if you don't have a policy then you have no protection. The coverage extended to an add-on vehicle is only as good as the coverage on existing vehicles, so if none of your current insured vehicles have full coverage, your new Cooper won't have it either. So in that case, it's important to call your agent or company directly from the dealership and have them bind coverage immediately.
Your insurance company will provide you with proof-of-insurance forms to keep in your vehicle. It's required by state law to carry at least the state minimum liability limits. If you are required to file an SR-22 with your state, your new insurance company will take care of that for you. If you cancel your coverage for any reason, you risk the loss of your driver's license.
Other Insurance Resources
The Insurance Information Institute has a great resource of car insurance articles where you can learn more about coverages and money saving tips. Visit iii.org.
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