Looks like we'll jump right in with the hardest question
first. Actually a lot of factors go into the computation of an insurance
premium. Let's look at a few of them.
The kind of car is a factor since some cars
may present a higher risk than others. For example, a two door may
have a higher repair cost than a four door. A four-wheel
drive sport utility vehicle is generally more expensive to buy and to insure than
one that is not four wheel drive. The insurance for a sports car
will cost more than insurance on a mid-size family car.
Your driving record, age, sex and marital status
all factor into your rate as some general groups of people have proven to be safer drivers
than others. Generally an older driver is cheaper to insure than a younger
driver, a married driver less than a single driver, and a driver without prior accidents or
violations less expensive than someone with a history of violations.
Where you live is important since areas with
more traffic yield more accidents. Also, some areas have higher incidents of vehicle
theft and vandalism.
Finally, the type of coverage you purchase
also affects your rate. For example, many people do not purchase medical payments,
towing, or rental in order to keep premiums lower.
First, be a safe driver without tickets or
accidents. If you are a safe driver, you will get better rates.
Most companies look at tickets and accidents in the last three years, although some
companies may look at the last five years. Some companies consider multiple alcohol
violations regardless of the timeframe.
Second, keep your vehicle insured at all times.
Most companies now offer a discount if you have current liability
insurance. Some companies will even offer lower down payments to those who have had
insurance without a lapse for six months or a year.
Consider a higher deductible, you'll
probably realize a considerable savings. The higher the deductible, the lower the
premium. Ask your customer service representative to show you the options.
Be sure you get all of the discounts you
deserve. Companies offer home ownership discounts, multi-car discounts, good driver
discounts, driver education discounts, VIN etching discounts, alarm discounts, daytime
running light discounts and full payment discounts, just to name a few. Answer all
of your agent's questions completely and honestly so he can help get you the best rate.
Electronic Funds Transfer is where the insurance company
automatically drafts your bank account each month rather than you sending a check for your
installment payment. Some of our policies now offer as much as a $60 per year discount
if you use EFT. Plus, you don't run the risk of missing a payment and
getting a cancellation notice.
First, contact your company as soon as possible to get new
insurance in force. If your current company cannot provide
reinstatement of your policy, visit our Quote
Center for a quote on new coverage. You should not drive your
vehicle until new coverage is purchased.
Remember, it is illegal to drive in most states without
auto insurance. While penalties vary from state to state, you
could lose your driver's license for driving without insurance. In
some states, you car can be impounded by police. Plus, you could
be personally responsible for all of the damage caused by an
accident. Overall, it's just not worth it to drive without car
insurance.
A driver exclusion is an endorsement to your insurance
contract that allows you to decline to have certain driver(s) covered by your
policy. This could make your premium lower, but if a driver is excluded, there is no coverage for this
person under any circumstances. You should carefully consider the reason
and ramifications of any driver exclusion before you sign the exclusion form and if you
have any questions, ask your company. Driver Exclusions may not be
available in your state.
I've been insured with "some other
company" for a long time, why should I even get a quote?
There are a lot of good reasons to consider using 24 7 Insurance Quotes .com
for a quote. Many times we can save you money over what you are
currently paying. Plus our companies offer online quotes and
policyholder services. We offer stable, financially
sound companies, most A-rated or better and all have excellent claims
service and good payment plans. We have knowledgeable,
friendly customer service representatives here to help you and answer all of your
questions. And maybe most importantly, you get all of this at a very low
price.
I have recently filed bankruptcy, can you
insure my home?
In most cases, yes we can. When you get your quote,
please make the customer service representative aware of your situation and chances are
that we can still provide you with an excellent company and very competitive rates
as long as your home meets other underwriting requirements.
My house have never flooded, why do I need
flood insurance?
Let's begin with the "not so obvious" fact that
flood insurance is not included on a standard homeowners or mobile home
policy. You must buy flood insurance separately. Most flood policies are backed by the
National Flood Insurance Program even though they are written through a participating
insurance company. Choose your flood insurance company as carefully as you would
choose any other insurance company.
Now, back to your question. Remember that most
areas of the country can flood at some time or another whether from
heavy rains, melting snow, or other unusual weather conditions. Any area is vulnerable to flooding
at some time or another, even if you have not flooded before. Flood
insurance rates are lower in the less flood-prone areas. In fact you might be
surprised at how affordable flood coverage can be, especially if you qualify for the preferred
risk program. Remember statistics show that the vast majority of flood
claims occur in areas that "have never flooded before."
To learn more about flood insurance, take our flood
quiz.
