How Changing Your Address Affects Auto Insurance

Where you reside plays a crucial role in determining the cost of your car insurance. Underwriters take various factors into account when assessing your address, including the frequency of auto thefts, level of traffic congestion, population density within your zip code, state regulations, exposure to natural disasters, and even the competition among insurers in your…

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How Does Auto Insurance Tier System Work?

Lately, personal lines insurers have been adding various new rating variables to price each applicant more precisely. Additional data allows them group drivers and differentiate rates for each group. These car insurance tier rating systems help to ensure that good drivers don’t subsidize bad ones. This fairly new underwriting structure distinguishes careful and considerate motorists…

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Auto Insurance Rates by Zip Code

The difference in quotes between two identical looking vehicle insurers can be as clear as day and night. Also, where you live can increase or decrease premium a lot. That is why it is usually the first question asked on a proposal form. These points highlight the importance of comparing car insurance rates by zip…

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Do Speeding Tickets Raise Insurance Rates?

Getting caught speeding can lead to various concerns, including fines, points on your license, and potential impacts on auto insurance rates. The specific premium increase resulting from a speeding ticket can depend on several factors. Typically, premiums start to rise from the next renewal after a traffic violation occurs. However, for the violation to affect…

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Does Being Self Employed Affect Car Insurance?

Self-employment may not directly affect car insurance rates, but factors like mileage and coverage needs can indirectly influence the cost of coverage. If your private car is not used for business purposes, being self-employed should not directly impact your car insurance premiums. However, the nature of your work, how you adjust your vehicle or what…

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What Is SR22 Insurance?

Although it is widely referred to as SR22 insurance it is actually a filing to confirm existence of liability coverage. It is a certificate, which is usually provided to DMV by a vehicle insurer to confirm financial responsibility. It is also known as FR44 in some states. If you haven’t caused any accident or taken…

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When Does Car Insurance Go Down?

Policyholders love to see premiums drop at renewals and this post explains what makes them fall. It is a fairly general question and we will try to break it down below. Rates may gradually come down in many stages and after specific events or changes in circumstances. That is why it is important to rephrase…

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Why Is My Auto Insurance So High?

Automobile insurers look at the details closely linked with the possibility of a policyholder involving in an accident or submitting a claim while determining how much premium they charge. Several common factors like age, driving and credit history, particulars of the vehicle, other drivers and zip code explain why a driver has expensive car insurance….

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How Much Does a Claim Affect Car Insurance?

There are various elements that can impact car insurance premium increases following a claim, including the type of the claim, the amount of the payout, fault determination, the insurance provider, state regulations, your age, driving experience, and driving record. If you are responsible for an accident where injuries and significant damages occur, your premium can…

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Reasons Behind Sudden Auto Insurance Premium Increases

When policyholders receive notice of a sudden increase in their car insurance premiums, it can be both frustrating and bewildering. Reasons behind unexpected rate hikes can be the changes in policyholders details, external factors like inflation, regional reasons like natural disasters causing large losses, and even auto insurer-specific situations like a company undergoing repositioning or…

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Basics of Car Insurance Premium Calculations

Automobile insurance premium calculations are devised to assess the risks involved in insuring a specific car with a group of drivers residing in a particular zip code, taking into account the requested coverage amounts. Each insurance company employs its proprietary risk assessment and premium calculation formulas, which lead to varying price offerings. Presently, these calculations…

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Are Hybrid Cars more Expensive to Insure?

Companies consider model, safety, price and popularity while calculating quotes. And some offer eco-friendly hybrid auto insurance discounts. They are a bit different in several ways than the ones with totally petrol-operated engines. In time there would be plenty more information and statistical data about them. This could improve or worsen their position in terms…

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What Happens If Car Insurance Lapses?

The moment you drop auto insurance or it is cancelled, you would be facing problems due to not having the legally required liability coverage and your vehicle isn’t insured either. Your state DMV will probably be informed by your insurer of the fact that you don’t have liability coverage. If this is not resolved quickly…

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Auto Insurance with Roommates

Roommates could be anyone like a friend, girlfriend, boyfriend, sibling or anyone else who is sharing the same living space with you, except spouses. Usually, you can add anyone on your policy even if they don’t live with you and you need to disclose to your insurance company who is living with you with their…

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