Posts Tagged ‘auto insurance providers’

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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Investigating your Auto Insurance Provider

Saturday, June 26th, 2010

The tight legislation that governs the auto insurance industry offers consumers a certain level of protection against unscrupulous companies that rarely live up to the exalting claims they make on promotional literature and television advertisements. It should always be remembered that the overwhelming majority of auto insurance companies are reputable, conscientious and always operate legally. However, a small number of companies have a less-than-satisfactory record of performance and by completing a few simple checks, consumers can easily avoid them.

Motorists are advised to check the ratings of a prospective auto insurance company before they actually proceed with purchasing a policy. A good rating is an indicator of financial stability, satisfactory service and strong company performance. A poor rating might suggest poor levels of customer interaction, failure to settle claims and a lack of financial acumen. Insurance company ratings can be found on any number of consumer websites and it is always advisable to consider the feedback of other customers who have used their services.

Reputation is an exceptionally powerful marketing tool and long-serving insurance carriers continue to remain at the top of their field because of the service they provide. Many consumers choose to veer on the side of caution by sticking with the most recognized names in the auto insurance market.  In recent years, a number of smaller companies have materialized in an effort to cash in on a continually-growing market. However, many of these new insurers lack the financial backing associated with traditional carriers and there are a growing number of reports that these companies rarely fulfill the promises they make at the time of an insurance purchase.