Do I get a lower rate for having smart car insurance?
If you plan on having getting a smart car, then you must look at the benefits of having smart car insurance. Smart cars behave like any other car – you get in them and you drive – but they look slightly different, being much smaller and less expensive. Check out our FREE search tool; put in your ZIP code and begin finding cheap car insurance quotes!
On one hand, some believe, their small size may cause them to get in more accidents and increase the average costs to insure the vehicle, which would increase the rates charged by insurance providers.
However, on the other hand, because smart cars are inexpensive and made with state-of-the-art engineering, many believe that smart car insurance actually costs less.
Shopping for smart car insurance can be difficult because many companies don’t want to take a risk on a new type of car. However, it does not have to be. If you know what to look for in your smart car insurance company and if you use our free comparison tool, you can be done in an hour at most, allowing you to get back on the road in your smart car.
All you have to do is enter information in about your location, driving habits and, of course, smart car model. The program sends this to information providers who offer deals on Smart cars and sends you back a list so you can compare insurance options side by side. Then you can choose the one with the lowest rates that still meets all your needs.
What Is a Smart Car?
The smart car is a tiny automobile about half the size of a normal car. It is designed with a tough shell to withstand shocks to its small frame, designed for city and neighborhood travel. This model of car is highly efficient and is the perfect choice for people who don’t drive often, but occasionally need a car to get around.
The latest Smart car, the Smart Fortwo, has been lauded in the industry for its safety features, including the tridion safety cell, which places a hard exterior around another the car’s softer, lighter core to help protect against shocks.
The Smart car is also noted for its inexpensive cost and correspondingly inexpensive insurance. Insurance costs for the Smart car tend also to be pushed down by the car’s artificial intelligence system, which includes features like radar-controlled brakes, self-adjusting cruise control and more.
Later models will be able to park themselves and may contain software that automatically moves the car to protects against sudden accidents. These smart safety features tend to make the Smart car easy to insure.
However, Smart is still a relatively new company. For this reason alone, you will probably want to use our free tool to find insurance companies that will offer you a good Smart car insurance deal.
Types of Smart Car Coverage
There are as many types of smart car coverage as there are of standard car insurance. The least expensive will be the bodily injury and property damage liability coverage options. These are mandatory in most states, and they generally cover at least $20,000 per person injured and $10,000 per property damaged. Depending on your state, you may be covered for more or less.
Bodily injury liability assists with medical costs and wage losses that result from personal injuries or passenger injuries in an accident. Property damage liability helps to repair buildings or other property damaged by a car crash. Additional coverage may be required if you used financing to pay for your Smart car.
Banks want you to care for their physical assets while you pay them off. Collision coverage is one such additional option, and it protects against mechanical damages taken in an accident.
Comprehensive coverage is another such option and protects against everything else, from fire, flooding, storms and weather to theft, vandalism and other crime.
You may also wish to purchase uninsured motorist protection. Some states require this purchase, as it forces insurance companies to pay even if an uninsured driver causes an accident.
While insurance is mandatory by law, that doesn’t mean that everyone has it or has enough. Uninsured motorist coverage in tort states can make sure that your medical bills and property damage bills get paid.
How to Lower Premium Rates for Smart Cars
Your Smart car premium rates are determined by a number of different pieces of personal information including:
- Education level
- Credit report
- Vehicle model
- Number of vehicles
- Driving record
- How often you drive
Each insurance company uses these pieces of information inscrutably in their quote algorithms. While you may not be able to predict what will lower your premium rates for any given company, there are a number of steps you can take to make sure that your Smart car rate is as low as it can be.
If you have several insurance policies, you can bundle them together and save on both. For instance, home and auto insurance can be combined for a better rate on either. If you own several Smart cars, you can also list them on the same policy to save money.
Enrolling in a defensive driving course can help you get lower rates on your Smart car. Try to find a defensive driving course specializing in Smart car use, as Smart cars have to worry about different things due to their short height and low weight.
Women tend to have lower premium rates than men, so consider putting all household Smart car insurance policies in a woman’s name.
By increasing your deductible amount, you may be able to lower your premium rates. Deductibles are what you agree to pay in the event of an accident before the insurance coverage kicks in. You can use this strategy if you don’t plan on using your Smart car very often and if you are a cautious driver, as it may lead to significant premium savings.
It goes without saying that you should do all you can to maintain a good credit report. If your credit is already bad, you should perhaps work to improve it before deciding to get your Smart car and insurance for it. A good credit standing signals that you are a responsible person and may lower your rates.
Shop around for Smart car insurance! These little vehicles are taking the country by storm, but you can be a step ahead with the proper insurance policy. Our free tool allows you to compare and contrast different coverage options with ease. Simply enter your ZIP code, try it out, and receive FREE car insurance quotes!