Step-by-step Guide to Cheaper Rolls Royce Phantom Insurance
If shopping for auto insurance was more enjoyable, it would get done more often. But the premiums we pay always seem to be too high and most of use would rather get a tooth pulled. You probably feel the same way when trying to find cheaper coverage for your Rolls Royce Phantom.
Step One: Compare Rates
Up until just recently, the only option you had for shopping for insurance was getting a high pressure sales pitch in the office of your local insurance agent. Welcome to the 21st century!
Comparing apples-to-apples price quotes for your Rolls Royce Phantom is made easy by only requiring one form to be completed. This will shop your coverage with multiple companies and allow you to easily compare rates.
To start saving, have your current policy handy and click the link below. Our short form makes it easy to enter your information and compare rates.
Insurance Quoting Tip! The only way to accurately compare rates bewteen different companies for your Phantom is to use identical coverage limits on all the quotes. If you use different liability limits and/or deductibles, you won't have an apples-to-apples rate comparison.
Step Two: Tried and True Ways to Save on Phantom Insurance
Now that you have several rates to compare (since you did compare rates above, right?), we will now show you some additional ways you can lower your Phantom insurance rates.
- Since your vehicle is higher performance than average, you can expect to pay a little more for coverage. To keep your costs lower, you may consider trading for a lower performance vehicle that has more moderate rates.
- Higher deductibles save money. If you can afford to pay a larger portion of a comprehensive or collision claim, you will pay substantially less for those coverages if you increase your deductibles to $500 or even $1,000.
- Repair shops have more expenses when repairing damage on luxury vehicles, so they will charge your insurance company more to make the repairs. This will be evident in your insurance rates even if you don't have a claim.
- 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.
- If you have any teenage drivers in your household, expect to fork out quite a bit more for insurance. Rating them on a low profile vehicle with liability only coverage is the best way to save money.
- Driver's safety courses will often get you a discount off your rates. Check to see if your company offers the discount and find a qualifying class in your area.
- 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.
- Gaps in insurance coverage will cause problems for your insurance rates. Don't let your policy expire without having new coverage in place.
- Equipping your Rolls Royce with available safety features such as air bags and passive restraints allows you to take advantage of additional discounts.
- Renting a house or apartment rather than owning a home may keep you from paying the lowest rates on car insurance. Home ownership is viewed as being more financially responsible than renting.
- A claim-free discount can help keep your rates down, so don't file claims that are only marginally more than your deductible. You're better off keeping the discount.
- If you belong to a professional organization, check to see if that can earn you a discount. If you're over the age of 55, check to see if they have a senior citizen discount as well.
- If you car makes the top ten list of most stolen cars, you might be paying a little extra to insure it.
Step Three: Purchase a New Policy
Knowing which company to insure your Phantom with is more than just choosing the lowest rate. You also need to be ready to put a down payment on your policy and make sure you have all the proper coverages in place.
You can cancel a policy at any time, but just remember to make the effective date of the replacement policy the exact same as the date you cancel your old policy. You do not want any gaps in coverage between policies.
If you don't currently have a car insurance policy, make sure you have coverage in force before driving your Rolls Royce off the lot. But if you already have a policy, you will have coverage extended to your new car from your existing policy. Anytime you buy a vehicle, you want to make sure coverage is in place before driving off the lot. If you have a policy now, you will have at least liability coverage. But if you don't insure any vehicles with full coverage, then you will put your new Phantom at risk as soon as you drive away.
Once you finish buying your new policy, you will need to print out the proof-of-insurance card that is provided by your new company. This card is proof that you meet the state's minimum liability limits and is required to be kept in your vehicle. SR-22 filings are for high risk drivers and ensure that you have met your state's financial responsibility requirements. If you have DUI, DWI or uninsured accident convictions, you may have to file an SR-22 with your state DMV.
For More Information
For more detailed car insurance topics, visit the Insurance Information Institute.
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