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Adding Points Adds How Much Premium?

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 01/31/2016

Q: Approximately how much does my insurance premium go up if you have couple of points on your record?

A: There is really no answer to the question that we can give for several reasons.

  1. Each insurance company has different insurance rates.
  2. Each insurance company assigns a different value to the number of points on a driving record.
  3. The rates for insurance companies vary from state to state. The amount a policy will go up for two points in Idaho is different than how much it will go up in Florida.
  4. A person with a couple of points will have a much different premium than a driver with a couple of points and bad credit or an accident that was never reported to the police.

As you can see there are so many variables that come into play with insurance premiums that it is impossible to give even an estimate of what a premium increase would be. Wish insurance premiums were the same across the board and we could give an actual answer.

Insurance Company Not Behaving Itself?

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 01/31/2016

Q: What if my insurance company wrongly assigned fault to me & then reversed its decision upon investigation by the insurance commission? They also used my uninsured motorist coverage to settle medical claims when I had medical payments coverage. Their subrogation division then sent me a letter saying they were unable to recover from the responsible party insurance company.

A: First, you need to see if you can’t get a hold of a claims manager to get an explanation for all of this. Tell them that you wanted to talk to them first to get it sorted out before going to the insurance commissioner again about the same claim.

If your insurance company refuses to help you and things just don’t seem right still, it’s time to call the commissioner again.

The Annual Cheaper Car Insurance Checkup

Written by Michele Wilmonen. Posted in Research Last Updated: 01/31/2016

It’s that time of year again to look for cheaper car insurance.

cheaper car insurance

Start the New Year with cheaper car insurance

Now that the holidays are over and we have all mostly recovered, it is time to do your annual checkup on your policy to see if you can’t get find cheaper car insurance rates. Yes, this will take time as you will need to contact different insurance companies and insurance agents for different quotes. But, the savings will be well worth it.

Of course, if you want to save yourself a lot of time you can always use our site to get insurance quotes. All you have to do is enter your information once and it will bring up quotes from multiple insurance companies. Definitely a good time saver.

Making Sure It’s Actually Cheaper Car Insurance

To make sure the quotes you are getting are indeed for cheaper car insurance and not just for less coverage, you need to make sure you have your current car insurance coverages in front of you. You can find your current coverages on the declaration page of your insurance policy. If you no longer have that page, you will need to get a copy from your current insurance company or insurance agent.

You need this information so that you can tell the company or agency you are getting quotes from what coverages you need. This is not to say that you can’t lower your coverages, but you want to first make sure you are getting a better price with the new company you are looking at compared to your current company.

Tossing Unused Coverage for Cheaper Car Insurance

Sometimes we purchase items that we end up really not needing and insurance coverages are no different. For example, you may have purchased rental car coverage when you first got your insurance, but now you have two vehicles and don’t really need a rental car if you can’t drive one after an accident. Or maybe you purchased towing coverage, but ended up with AAA later down the road. Now you have double towing coverage and probably hardly ever use either one.

It’s coverages like these that you can drop off of your policy to give you cheaper car insurance. Those non-required coverages that are optional.

The one thing you need to do before calling around for new insurance though, is to contact your current insurance company and see if they can’t get you a cheaper car insurance rate first.

Getting an Insurance Refund

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 01/20/2016

Can you get an insurance refund from a  down payment you already paid?

Q:  I renewed my insurance with U.S. agencies and I put a down payment of 152.00 down on Jan. 7…. Now on Jan 12 I got another policy with state farm for a cheaper price and more coverage….Am I entitled to get my 152.00 back from Us Agencies????

A: It all depends on your renewal date.

If your renewal date is after January 12th, then yes you are entitled to the full insurance refund of $152.00 back (minus any fees the old company charges). If your renewal date was before January 12th, then you won’t get the full $152.00 back, your old company will instead pro-rate your insurance refund for the days you were not covered by them.

Hiding a Hit-And-Run Accident from Your Insurance Company

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 01/20/2016

Who finds out about a hit-and-run accident?

Q: My coworker hit a bicyclist and nothing has been reported. His car is damaged. Will his insurance company know that he did a hit and run? What happens next?


A: Well my question would be why is this a hit-and-run accident? Did your friend hit the bicyclist and then take off without making sure that person was okay and without giving them his insurance information?

His insurance company will not find out if there was no police report filed and the other person doesn’t file a claim. His insurance company will also not find out if he doesn’t put in a claim for the damages to his vehicle.

While this may be good news, if he did indeed flee from the scene of an accident the damages to his vehicle can link him to the accident and then he can expect a whole lot of legal trouble in the future.  In other words, his insurance company finding out about the accident will be the least of his worries.

Car Insurance Guidebook Unravels the Car Insurance Mystery

Unless you work in the car insurance industry, the topic is probably a mystery to you. The words deductible, comprehensive, collision, liability, premium, loss of use and bodily injury are all gibberish when they reach your ears.

Unfortunately, insurance is something that you are required to have by law if you want to drive. Because of how confusing it is many people go around in almost an insurance daze while they get car insurance quotes from the auto insurance companies that they have heard of. In reality, they are completely lost as to what they are actually buying.

Instead of looking at what each insurance company offers in the terms of protection for both themselves and their car, they are instead looking for cheap car insurance. Finding the cheapest car insurance coverage makes having to buy the required product all that much less painful, but misses the whole point of having insurance.

Learning about insurance through your insurance agent or websites like Car Insurance Guidebook will give you the upper hand when you looking for car insurance. You can take your knowledge and not only find the best price for insurance, you can use it to find really great insurance to protect you and your assets. Then you aren’t stuck settling for just average car insurance that can hurt you financially if you ever need it because there isn’t enough protection.

For example, when looking for insurance the car insurance rates are just the first of many factors that need to be taken into account when you are shopping around for car insurance. You also need to take into account the type of vehicle that you are driving. Many people don’t know this.

Are you driving around a vehicle that is a new sedan and can be protected under any blanket insurance policy? Or do you have an old car that you fixed up that needs special protection and could be better covered under classic car insurance?

Don’t just assume that when you compare car insurance that it will be a one-size-fits-all policy. This is where the insurance knowledge will come in handy; you will know what you need to protect yourself and your vehicle.

You will understand what your insurance agent is talking about when they use insurance terms and you will actually be able to make an informed decision. This is much better for you instead of the “nod and smile” approach people take in their insurance agent’s office.

Also just like your life changes your insurance needs will change. This year you may just need to learn about the best deductible to have. Next year you may need to educate yourself on car insurance for young drivers. As the years pass, motorcycle insurance may be something you will need to know.

Many wise people say that you never stop learning, so take their advice and educate yourself on the insurance that you spend a lot of money on and can’t get away with not having.