Limited mileage insurance is like any other auto cover with the mileage being the criteria to decide the premium amount. In the case of mileage insurance, the premium may be less than the actual annual premium of the private car insurance. If the contract states that you pay a certain amount as premium for 5000 miles, you are eligible for coverage up to that limit only. In the event of an accident or loss of the car within that limit, you will get compensation for the damage or loss from the insurance company. If you have crossed that mileage limit, then you become ineligible for any insurance cover.
Insurance companies offers substantial discount in limited mileage insurance. It will cost you less than any ordinary car insurance. If you are driving within city limits and not in the habit of traveling extensively, you will be benefited with limited mileage insurance. Buy limited mileage insurance and you will be covered for years at a stretch. You do not have to buy insurance for your vehicle every year. If you drive five cars, you will be benefited more in mileage-based insurance. In multiple car insurance, you will have to pay for all cars. If you drive 4000 miles a year with one car, you will drive the same in five cars. So you can save your premium amount by buying limited mileage insurance.
Do some research on the Internet, you will get a lot of good deals in limited mileage insurance. There are scores of insurance companies offering insurance at different rates. Compare the quotes of some insurers. You can contact the insurers over phone or via email for the quotes. The insurance rate of the car will depend on factors like the make and models of the car, the mileage, and the condition of the car and whether you have installed an anti-theft device in the car. Also, the premium rate varies from company to company. If you read the terms and conditions and compare the quotes for general car insurance or any classic car insurance, you will surely come across very good deals.
For buying limited mileage insurance, you should be the legal owner of the vehicle that is to be insured. When you buy this insurance online, you may be asked to provide your name, address, the vehicle registration number, makes and models. After that they will give you the quotes. Before buying insurance, you should read all the terms and conditions. In case of any doubt or if you do not understand any of the terms in the agreement, you should ask the insurer to clarify them. Log on to peterbestinsurance for more information on limited mileage insurance.