Baltimore is the 24th largest city in the US and second-largest in Maryland. Being a city with a highest accident rate next to Washington, it calls in for auto Insurance for every vehicle owner. Auto insurance in Baltimore is not an option. In case of an accident or theft, the insurance company pays up the agreed amount or determines the cost of loss and pays the policyholder. A small premium amount has to be paid to the insurance company and that usually depends upon the model, year of manufacture and type of vehicle.
Everyone might have a general idea about the insurance but, there are a few facts people ignore to gather or assume without clarifying it was the insurance company before taking up a policy and end up cribbing to their attorneys.
– Items like DVD players, navigation systems, or any other accessories are not covered under the insurance policy unless and until a rider for them has been included. Just because they are part of the vehicle, the policyholders usually assume that in case of accidents or theft the loss incurred will be paid as well.
– Insurance companies check credit score, just like any other financial institution. In case the credit score is less, there are more chances that your premium will be higher than a person with a similar profile but a good credit score. Reason being, a person with a low credit score or a bad repaying history is more likely to elapse the policy in the likelihood of a financial problem.
– If the vehicle that is being insured is used for business purposes, then there will be a reduction in the premium based on the amount of time it is being put use for official purposes.
– The premium for auto insurance is usually highly for single men than married men or women. Again, this is attributed to the risk factor.
– Auto insurance premium also depends upon safety features that are installed in the vehicle. Premium for a car that has fully equipped safety features is likely to have a lower premium than a car that does not have them. But again, it also depends upon the driving history of the car owner, age, gender, marital status and credit history.
– Insurance premium rates could be further lowered if one is a part of certain professional organisations. But, this differs from insurance company to company. So while shopping for auto insurance in Baltimore, make sure to check if they provide discounts in premium based on your association.
The above mentioned points, though they sound trivial, will help you make the right decision when looking for auto insurance next time. Precisely one has to check each and every detail, however silly it may sound before signing a contract to avoid complications while filing for a claim.
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