Group car insurance
Reader question:
What is group car insurance?
Melanie
Thank you for asking, Melanie.
This is a type of auto insurance coverage that I found out about recently, and it is actually an excellent way for you to save money on your car insurance premium. Most people are aware of group insurance policies with health insurance but are not aware that the same thing exists in the auto insurance business. But really, there are several ways for you to get involved with a car insurance group so that you can get the cheaper group car insurance coverage, and those options expand significantly when you own a high performance car.
- Car insurance clubs.
If you are part of a car club for your high performance car, then you probably already get a discount on your auto insurance for being a member of a car club. However, you can also get a discount in many car specific clubs if you join their car insurance group.
This type of insurance is basically treated as if the person who is buying the insurance owns a fleet of cars even though, as in the case of you being a member of an automobile club, the person does not own any of the cars at all. Most often used by owners of businesses to buy auto insurance for their drivers, it also helps for people who join car insurance clubs and if you have this option available then you can pay your insurance to your club instead of to a car insurance company.
You should still be wary even if you are getting your auto insurance through a club, though. Make sure that the company that the insurance policy is with is a reputable one, and also you need to make sure that you are able to get the kind of coverage that you need as a driver of a high performance car.
Cheers,
Fashun Guadarrama.
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