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How Can Insurance Companies Afford to Give Low Rates?

 

Have you ever wondered why your friend whose car is insured with a different company is paying lower premiums than you are? While you may have different qualifications which may play a role in determining the rate of your policy, another factor that affects your rate is the clientele your insurance company caters to. For example, street rod insurance rates are definitely more affordable than standard auto insurance premiums. Why?

As compared with standard vehicle owners, vintage car owners are more careful with their cars. Most collectible cars are properly maintained than standard vehicles. Because of this, there are low insurance claims from vintage car owners than standard vehicle owners. Low insurance claims mean lower expenses for the insurance company which result in lower insurance rates for their clients.

Classic Car Ins can afford to give you lower rates because many of our clients take car maintenance and protection seriously. The risk management done by our clients like storing their vehicles in a secured garage, regular maintenance checks and driving safely collectively help us keep our rates low. If you want to have an affordable insurance policy, get your free quote from us now and we'll help you choose the mile plan that is appropriate for you.


About the Author

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 12/5/2012 9:00:00 AM with 0 comments


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