What to do if you are overpaying for insurance.
Identify the problem or likely Problems. I will list the top 10 reasons your insurance is overpriced and what to do about it. You can likely identify which of these or combination of these are the culprit. However, if you are having trouble please feel free to contact one of our agents. They will take the time with you to help you identify the problem and come up with a game plan.
1) Insurance rates are based on your zip code. If you live in an area with a higher population density, such as a city, your insurance rates are going to be higher than if you lived out in the country.
2) Driving record. Accidents and tickets affect your insurance premiums negatively in a huge way. Additionally, though, you are greatly rewarded when there are no accident or tickets in the past five years.
3) Age. The younger you are, the higher your insurance cost. The older you get, the more experience you have with driving, the lower you rates go.
4) No proof of prior insurance. Proof of prior insurance discount is applied when someone has six months continuous insurance without a gap just prior to the start of a new policy. Most people let their insurance lapse which will not allow the new carrier to apply that discount.
5) Full coverage versus just liability. When purchasing a new car, most likely you will need full coverage (comprehensive and collision) which will significantly impact your insurance premium.
6) Gender. Men at younger ages are statistically more likely to get into an accident than women. However, the tides will change around late 40’s where women’s insurance rates are likely to be higher than men’s.