What is My Neighbor Paying For His 2005 Honda Pilot?
|75, Male, Single, Colorado Spring, CO|
|Year/Make Model: 2005 Honda Pilot|
|Ownership Status: 3 Years or More|
|Discounts: Paid in Full, 3 Years Safe Driving, 5 Years Accident Free, Continuous Insurance – Diamond|
|Selected Coverages With Progressive|
|Bodily Injury Liability: $25,000 / $50,000|
|Property Damage Liability: $25,000|
|Uninsured Motorist Bodily Injury: No Coverage|
Comprehensive: No Coverage
Collision: No Coverage
|Other Rejected Coverages: Medical Payments, Comprehensive, Collision, Uninsured Motorist, Rental Reimbursement, & Roadside Assistance|
Total 6 Month Premium: $433.50
Monthly Installments: Paid in Full
The client above chose Colorado’s state minimum requirement for liability insurance through Progressive. They rejected other coverages offered to them (which are not required by State), along with paying his policy in full. He saved additional money by having discounts, his age, and owning an older vehicle. If the client chose to increase his limits or add coverages, then the policy premium would go up in price as well.
Fun Fact: As you get older, your insurance rates will begin to lower (as long as there’s not new violations). This is due to carriers viewing you as being more experienced, thus lowering you being a risk factor to them.