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Archive for October, 2012

Three Factors Affecting Auto Insurance Rates

Sunday, October 28th, 2012

Are you interested in learning more about how auto insurance rates are affected? Find out how to get low auto insurance online. Here are three important factors that may cause your auto insurance rates to excessively balloon out of control. The two most important factors that companies look at after you submit an auto insurance online quote is your age and your driving history. Other important factors include what type of car you have and whether or not you own or finance your vehicle. Other common factors that auto insurance companies observe while determining how much of a risk a driver is include a persons marital status, sex, and possibly occupation. The most expensive auto insurance rates are awarded to the individuals who are assumed to be in the high-risk category for auto insurance.

A bad driving record can cause difficulties for you on you way to getting the best auto insurance rates possible. An auto insurance company might even ask to evaluate a person’s credit before quoting them a cost for their insurance premium. This means that if you have bad credit, accidents and tickets on your driving record, and are less than twenty-five years of age, you will probably be forced to pay higher rates for auto insurance. Some people elect to go with an inexpensive reliable old Japanese sedan with a four-cylinder engine that will make it to high mileage numbers so that they can save the most money on their car insurance. If you decide to travel to work in style and you want to drive a sporty BMW or a new 5.0 Mustang, you are going to have to pay top dollar for insurance premiums that seem like they are constantly on the rise.

If you are a good driver who has a long-term record that displays good reliable driving, don’t be shy to ask about good driver discounts and rewards which can save you a significant amount. One way to guarantee that your insurance premiums will not go up dramatically is to drive safely and avoid getting info accidents. Showing loyalty to an insurance company by staying with one team for a long-term policy is a great way of racking up extra savings and added benefits over the years. If you are ever wondering if you can find a better price out there somewhere else, the internet allows you to check policy features in minutes. If you are thinking that it is time to consider switching insurance companies to find lower rates and better service, you are always a few mouse clicks away from a library of information about the latest auto insurance policies.

How To Appeal An Auto Insurance Rate Increase

Sunday, October 7th, 2012

Auto insurance rate increases can happen for a variety of reasons. Auto insurance carriers may increase rates annually as a matter of policy. Rates may also increase due to substantial payouts because of natural disasters or other Acts of God that severely affect the insurance carrier’s profitability for that year. Rates can also increase due to an increase in federal or state taxes or overhead related to the carrier’s ability to continue providing comparable levels of coverage to new and existing coverage. Finally, auto insurance online or offline rates can increase after the driver is involved in an auto accident. With all but one of these reasons, there is no recourse for the insured to appeal an auto insurance rate increase, unless there is a consumer group that gets involved. In the case of an insurance rate increase that results from the driver’s involvement in an auto accident, however, there is an appeals process that can be followed to contest the rate increase.

When appealing a rate increase for auto insurance online or offline, it is very important to be aware of the terms of the policy contract as they stood when the policy first went into effect. Auto insurance online or offline policies will spell out how accidents are treated concerning increases in auto insurance rates. Some insurance carriers may have what is called “accident forgiveness” where the first accident may not come with any type of insurance rate increase. Other insurance carriers may not offer this policy. However, once the policy is set and agreed to, the only real leg the insured has to stand on is to attempt to obtain a reversal of an “at fault” ruling after the accident. Since all states follow a fault based system for damages to vehicles that are involved in an auto accident, the driver at fault is most often the individual who can expect to be hit with a rate increase following involvement in an auto accident.

Since insurance carriers are subject to each state’s set standards of fault, the way to appeal an auto insurance rate increase is to find out what the governing body is in the state in which the accident took place, and follow their appeals process to reverse a ruling of being at fault in the auto accident. Since this can take some time, it is important to continue paying premiums on time each month at whatever rate is being assessed in order to avoid losing coverage while the appeal is being processed. A thorough understanding of how the appeals process works in a specific state are helpful in planning ahead for policy increases during the waiting period.

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