Posts Tagged ‘auto insurance companies’

Five Auto Insurance Provider Secrets

Monday, June 11th, 2012

It’s not immediately clear how one’s auto insurance bill comes together. Just as Google rates websites, your auto insurance rate is a complex concoction of algorithms used to calculate your value. Most of the time, carriers are just hoping to break even on your premium payments. Ideally, you’d put as much money in as you’d ever need to cover the cost of an accident. So insurers are trying to keep prices competitively low, without putting them in debt. Here are five things you may not know about auto insurance pricing.

1. Women Pay Less.

If you’re a woman, you will (on average) pay about 12 percent less. This means that men will pay an extra $15,000 on auto insurance over the course of a lifetime.

2. College Grads Pay Less.

You will pay the most if you have a high school diploma or less. Rates improve with each successive degree.

3. Your Credit Score Matters More Than You Thought.

One of the biggest factors of your financial responsibility is your credit score. If you have a low score, expect to pay a higher premium.

4. Location Affects Your Rate.

On one hand, Louisiana has the nation’s highest premiums. A move to North Carolina would say drivers $1,500 a year in auto insurance. Similarly, moving from Washington D.C. across the river to Virginia will save $50 a month.

5. The Old and Young Pay The Most.

Statistically speaking, you’re more likely to crash if you’re old or young. Premiums peak from 18-25 and again from 55-75.

Actually, the best thing you can do to keep your auto insurance rate low is spend some time shopping around periodically to see how much you can save! Try our free online auto quote system today! There is no cost and no obligation.

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How Shopping Around Can Save You Money On Your Auto Insurance

Tuesday, May 15th, 2012

You’ve probably seen the commercials and heard people tell you to “shop around” for auto insurance. This sound advice could save you hundreds — if not thousands — on your premium. It’s recommended that you get at least three quotes. If you want to save even more, get six quotes. A 2004 Progressive Insurance survey of 100,000 consumers nationwide found that auto insurance rates can vary by over $1,o00/year!!

Why Do Some Auto Insurance Companies Charge More Than Others?

Every company has its own secret algorithm for determining your risk value and how much money they’ll charge to insure you. There are also different types of insurance companies. For instance, Geico and Amica have in-house employees who sell directly to consumers online or by phone. Other insurance companies — like Allstate and State Farm — use independent contractors who work on commission to sell one company’s product. A third type of insurance company is comprised of independent agents who can sell insurance from various companies.

Where Can Drivers Get The Best Auto Insurance Rates?

Direct agents offer the best rates for their companies. Since there is no “middle-man,” you’ll save 15 percent typically. You can access these direct agents by searching for free quotes online and selecting the offer of your choice to proceed. Of course, many of these direct companies can be fussy about who they insure. If your driving record isn’t squeaky-clean, you’ll probably need to check with the larger auto insurance companies like State Farm (18 percent of the market) or Allstate (12 percent of the market) and see if an independent agent can beat your best quote.

What Discounts Do Insurance Providers Offer?

Every auto insurer also has its own set of available discounts. You can save by choosing one company to provide a combination of different types of insurance. You can get money off by taking a defensive driving course, by retiring, or just by being a good student. There are Mensa discounts, group savings by employers, money off for college kids who dorm, and safety feature discounts. Some companies also have loyalty programs that are worth asking about.

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Shop competitive auto insurance quotes here!

How to Compare Auto Insurance Companies

Thursday, June 30th, 2011

A great strategy for consumers who are looking for the best deal on coverage is to compare auto insurance companies before making a buying decision. Before starting to look at different options, a consumer should make a list of criteria to consider.

For some buyers, low prices are the main consideration. For them, getting from a coverage from a national car insurance provider would be a good choice. Other buyers are prepared to pay a bit more for their coverage if it means they can get more personalized attention from the provider.

Other factors to look at when considering different auto insurance companies include

  • How long the company has been in business
  • How many customers it serves
  • Whether it has the financial reserves to pay out on its policyholders’ claims
  • Whether it provides a good level of customer service

A good way to shop for coverage is to go online. Insurance company web sites are available at any time of the day or night to provide information to prospective buyers. Drivers can conduct a search for car insurance in the state where they live to find out which providers are licensed to sell policies in that area.

When a driver finds a company that he or she is interested in, getting an online quote is a quick and easy process. The driver will be asked to answer a few questions about how long he or she has been driving, the make and model of the car and where he or she lives.

 

 

How Texas Auto Insurance Companies Set Rates

Saturday, June 18th, 2011

When Texas auto insurance companies set rates for their policyholders, they consider a number of factors. Premium rates depend on how much risk the applicant presents for coverage purposes and whether the insurance company is prepared to assume that risk. Different companies vary in the amount of risk they will take on and how much they will charge for doing so.

A driver who wants to present him or herself as a low risk for car insurance purposes should make a point of maintaining a clean driving record. Someone who has been driving for a number of years without being involved in any at-fault accidents or accumulating moving violations will be able to quality for low rates on his or her coverage.

Insurance companies also consider the driver’s age, gender and marital status when setting rates. Young drivers, especially young males, pay some of the highest rates for their auto insurance coverage. Married drivers are considered to be more responsible than their single counterparts and are charged better rates.

A policyholder’s choice of vehicle is another important factor when Texas auto  insurance companies are setting rates. Drivers who buy one that is expensive to repair or which is likely to damage another driver’s vehicle, such as an SUV, means paying higher rates for coverage. A person who is in the market for a new vehicle who wants to be sure that it is an affordable choice can get quotes for the models under consideration from different providers.

 

How to Compare North Dakota Auto Insurance Companies

Tuesday, June 14th, 2011

Comparing North Dakota auto insurance companies before choosing a provider is an effective strategy to help consumers find the lowest rates for the coverage they need. Since auto insurance buyers’ needs vary, each driver interested in considering multiple providers should take some time to think about what he or she is looking for in an insurance company.

Some buyers want to focus on finding a company that is prepared to provide low rates for coverage. For others, being able to deal with a local company that they can develop a personal relationship with is an important consideration and they don’t mind paying higher rates to get this level of attention. Other buyers want to find a provider that makes it easy to report claims by offering a 24-hour telephone line.

All North Dakota auto insurance buyers will want to investigate different providers before buying a policy to confirm that they are reputable and have been in business for a number of years. Customers will also want to make sure that the company they are considering has the means to pay out on their policyholders’ claims by making sure that the ones under consideration have been given an A+ or A rating by one of the financial agencies responsible for making this determination.

Cost of coverage is also a factor when comparing North Dakota auto insurance companies, but it should not be the main consideration. Cheap rates aren’t the way to go if it means that a driver doesn’t get adequate coverage in return for the money being paid out.

How to Compare Minnesota Auto Insurance Companies

Saturday, May 14th, 2011

All Minnesota auto insurance companies sell policies, but the terms and pricing that they offer to their customers varies. Before making a decision about which one to  deal with when looking for coverage, it’s a good idea to consider what criteria are most important before getting quotes.

Check out the “About Us” portion of the company web site. You will want to find out how long the company has been in business, as well as its financial health. The company’s rating may be listed on the web site; you want to find one that has an A+ or A rating, which indicates that it has the necessary reserves to pay out on claims made by its policyholders.

Another important consideration when choosing an auto insurance provider is the type of coverage that it offers. This information can be found on the company web site and is especially important to customers who are looking to insure a motorcycle or RV as well as a car, since not all companies offer coverage for them.

Before making a decision about where to buy coverage, find out how well the company treats its customers. Good customer service is important, so ask whether the insurer has a 24-hour number for policyholders to report claims. Being able to report a loss quickly means that the process for getting the matter resolved may be quicker.

Good rates are something that a consumer considering various auto insurance companies should consider. The best choice is the one that can offer a good level of coverage at an affordable price.

How Do CT Auto Insurance Companies Set Rates?

Friday, May 6th, 2011

When CT auto insurance companies are determining how much to charge policyholders for their coverage, several factors are considered. For one thing, the insurer will want to know the make and model of the car to be insured. Customers who drive sports cars can expect to pay higher rates for their coverage than consumers who choose to drive a more modest vehicle that is not designed to be driven fast (and is more likely to be involved in an accident as a result). They also track repair costs for different models, and the ones which require imported parts or are complicated to restore to their pre-accident condition will also cost more to cover.

An applicant’s driving record is also an important factor when setting rates. Insurance providers look at past events as a way to determine how a driver will behave going forward. A person who has been able to maintain a clean driving record for a number of years will be able to qualify for lower prices than someone who has a driving history that includes accidents and/or moving violations. The insurer will ask whether an applicant has been involved in any at-fault accidents within the past few years before providing a quote for coverage.

Location also matters when it comes to setting rates for CT auto insurance. Companies gather statistics about which neighborhoods are most likely to report car thefts and acts of vandalism. A policyholder who has his or her vehicle garaged in one of these areas will be charged more for coverage.

How to Compare MD Auto Insurance Companies

Friday, April 1st, 2011

To compare MD auto insurance companies, start by considering what is most important to  you in a provider. For some customers, low prices are a primary consideration and these would be put at the top of the list. Other customers want to deal with an insurance provider that they can develop a personal relationship with. For them, a smaller company or dealing with an agent may be the right choice. Another important factor to consider when choosing an insurance provider is how the company handles claims.

A good insurance provider will make it easy for policyholders to make claims when necessary. They have a toll-free number for reporting claims and have customer service representatives available to record the information. A prospective customer can contact the insurance companies he or she is considering to ask how long it takes to settle a claim, on average. This information will help to make choosing a provider easier.

It can be tempting to get quotes from a number of MD auto insurance companies and choose the one offering the lowest rates. This is not the best choice from the consumer’s point of view, since a cheap policy that doesn’t provide a good level of protection is really not a bargain. A customer should consider whether the company is one that has the means to pay out on its policyholders’ claims as well as how it treats its customers before considering pricing.