Penny Pincher's Guide to Insuring a Panoz Esperante
If searching for lower car insurance rates was a good time, we'd have no problem finding the best rate. But in reality, the cost for insurance always seems too high and most people would prefer to get a root canal. Finding affordable insurance for your Panoz Esperante is probably the same story.
Step One: Compare Rates from Multiple Companies
If it's been a few years since you shopped for car insurance, you might still think the only way to buy is from a local agent. But you can now comparison shop and buy direct online!
You can now shop all the best car insurance companies and compare rates for a Panoz Esperante and you don't even have to visit each individual website!
To compare rates now, have your current policy handy (if you have one) and click the link below. Complete the short form and move on to step two.
Important Tip! In order to accurately compare rates for your Esperante, it's critical that you use the same limits and deductibles for liability and physical damage coverages like comprehensive and collision. If you use different limits, you will not be able to accurately compare rates between carriers.
Step Two: Top Ways to Get Lower Esperante Insurance
What you actually pay to insure your Panoz is determined by many factors, some of which you have no control over.
- Vehicles that are considered high performance will have a higher insurance price tag that your average family sedan. The Panoz Esperante is no exception.
- If you're not sure what your credit rating is, check it now. Car insurance companies use your credit score to determine the rates you pay, so the better your credit, the less you will pay.
- Many insurance companies will give you a small discount if you've recently completed a driver's training course.
- Let's face it, you aren't driving a Esperante because of the fuel economy. You like the looks and performance and you'll pay a little more for insurance because you're driving a sports car.
- Letting your car insurance expire without having new coverage in place is called a "lapse" and will cause your next policy premiums to be higher.
- Being a homeowner can often get you a little discount on your auto insurance. Insuring you home with the same company as your autos can often get you even deeper discounts.
- Membership has it's privleges. If you're a member of a professional organization, check to see if your company offers discounts to its members. It can add up to 5% or more.
- You can save money on your physical damage coverage (comprehensive and collision) by increasing your deductibles. Higher deductibles mean you are willing to pay more before the insurance company covers a claim.
- Teen drivers are expensive to insure and the only way to lower your rates is to rate them on an older vehicle with basic liability coverage.
- Speeding tickets and other violations can negatively impact your insurance rates for up to three years. Get too many tickets and you'll be shopping for a new car insurance company.
- Most Panoz vehicles come with standard safety features such as air bags and passive restraints, and those will help keep your insurance costs down.
- To keep your rates low, don't file excessive claims on your policy. Insurance is meant to cover large losses, not small damage that you can pay for out-of-pocket.
- If your Esperante ranks on the list of vehicles that are frequently stolen, that can result in a higher rating class and a more expensive rate.
Step Three: Finalize your Car Insurance Policy
Buying a new car insurance policy is just a matter of finalizing your application form and submitting it with your down payment. Once payment has been accepted, coverage is bound the effective date shown on your application.
An important thing to keep in mind when buying a new policy is you want the effective date of the new policy to be the exact same as the date you are cancelling your old policy.
Before you drive your Panoz Esperante home, make sure you have a current car insurance policy in force. Coverage will extend to the new purchase from your policy, but if you don't have a policy then you have no protection. If your current policy has any vehicle with full coverage (comprehensive and collision), then your new Esperante will have that coverage extended to it. If you only have liability coverage on your policy, then you have no physical damage coverage on your new purchase.
Once you have purchased your policy, print out the insurance card that must go in your vehicle. This card fulfills the state law requiring you to prove financial responsibility. If an SR-22 is required due to a reckless driving conviction, DUI or conviction of driving without insurance, make sure your new company is aware of that. Not filing a court-ordered SR-22 can result in suspension of your driver's license.
Additional Insurance Information
The Insurance Information Institute has a great resource of car insurance articles where you can learn more about coverages and money saving tips. Visit iii.org.
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