When searching for auto insurance, looking at the fine details can make or break a policy. Consumers may not be aware of all issues that could impact their policy cost and future claims.

Here are 4 little-known facts about buying auto insurance!

Your Credit Matters

It seems like credit is king when it comes to many things nowadays. Many insurance agencies look to a person’s credit score to determine a rate. Higher credit scores are favorable, as insurance agencies see a high credit score reflects responsibility. A lower credit score reflects a riskier person, as agencies see it as an indication of frequently missed or late payments.

Standard Policies Don’t Cover Stolen Items

Your standard auto insurance policy is just that–standard. Standard auto insurance is the lowest or basic form of insurance. This type of insurance only covers damages to the other driver, or property owner, due to an accident at fault of you.

Covering personal items in the event of theft will have to be covered by your home insurance policy.

A Business Can Claim Premiums for Tax Deduction

If you own a small business that requires you to cover business vehicles with auto insurance, those premiums can be claimed as tax deductions. The U.S. Internal Revenue Service provides that to do this, one must establish how much time the vehicle is used for business purposes. So if you only use your vehicle 20% of the time for business, then 20% of the premium paid may be claimed for a deduction.

Always Ask About Discounts

If you work in a certain occupation, are a student, or affiliated with certain groups, like the American Automobile Association, you may able to get a discount.

If you are searching for auto insurance, be sure to ask about any discounts you may qualify for.

Payne Insurance Group

Payne Insurance Group wants you to be safe and covered while out on the road!

Payne Insurance Group provides insurance for auto, home, commercial, and much more! Payne Insurance Group has partnered with over 13 businesses across the Rio Grande Valley, As a result, we have created a one-stop-shop for all your automotive needs.

Get your FREE insurance quote today!