A change in life circumstances could have a big effect on your auto insurance. Getting married, welcoming a teen driver to the family, and negotiating the best deal between roommates are common situations that cause Gambrills, MD residents to rethink their car insurance situations. The experts at Bay Point Insurance can help you decide the right move for your specific circumstances. These are some of the things your agent may discuss with you.
- There are two ways to amend an existing insurance policy. One involves adding a new vehicle. The other designates an additional driver to the existing coverage. Each update affects your policy in different ways.
- When adding another person to your policy, you can choose to designate them as a qualified driver or non-driver. Qualified drivers are assumed to have operational power over the vehicles on your policy, which means your rates increase to accommodate the additional risk. Non-drivers usually don’t change your premiums.
- Insurance carriers require that all people on a policy have the same residential address. You can’t add anyone who doesn’t live with you, but you can add anyone else who resides with you. Combining policies with roommates could score you a discount that makes ends just a little easier to meet.
- If the other partner in your insurance plan has a bad driving record, it could cost you more to combine policies. High-risk drivers and anyone on their policy pay higher premiums to account for the increased potential of accidents.
- Your roommate’s new Corvette might not be the best policy mate for your Honda Civic. Even if you don’t drive it, just being associated with an expensive and/or high-risk vehicle can raise your own risk.
Be sure you’re making the right choice before you sign on the dotted line. Contact Bay Point Insurance for personalized and professional guidance on your Gambrills, MD auto insurance.