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Change of Address and Your Insurance Rate

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 06/29/2016

Question: Why does my insurance rate go up $21 dollars when I just change my address and also my email?

Answer: Part of what makes up your insurance rate is where you live.  Insurance companies rate on the safety of a neighborhood, the likelihood of a claim in that neighborhood, as well as other factors.  Your insurance rate went up because where you moved to has higher rating factors than where you used to live.  Your email address has no affect on your insurance rate.

Raised Insurance Rates?

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 06/28/2016

Question: I live in Montana and have Geico. I’m 46 with a spotless record and great credit history, because I know that matters. Newer Harley lost traction around a corner, only doing 10-15 mph. No ticket, no other vehicles involved, just slid out on loose gravel. Estimate for damages around $1800. Deductible $500. What do you think? Raised insurance rates?

Answer: Most likely not going to see raised insurance rate.  It’s under $5,000 and your driving record is clean and you have a good credit score.  But, you just never know if you will have raised insurance rates or not until you get your renewal.

At- Fault Accident = Rate Increase

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 06/01/2016

Q: so i got into my first accident on may 14 2016. i got t boned and the car that hit me is totaled and my truck just had a few dents. will my insurance go up because the officers said it was my fault for the accident

A: With knowing so few details, my first inclination is, yes. Major accident that you were found at fault for will almost certainly increase your insurance premium.

Subrogation

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 06/01/2016

(This was a comment that was posted to a bad review for an insurance company. It was significant enough that we felt it deserved it’s own post.”

Comment: If you had good insurance, your insurance provider would pay you and then go after the other provider. You cant control the other guy but you can get a good policy. Sounds like your insurance is trying to play the blame game. Get a better provider.

Our Response: First, it depends on what you are expecting your insurance company to pay for you. If you have damages to your vehicle but you failed to purchase comprehensive and collision coverage, your insurance company is under no legal obligation to pay for those damages. You didn’t purchase their product, why would they have to pay out a claim for you?

If you did purchase collision coverage and were in an accident, then yes, your insurance company would pay out for the damages and then “subrogate” (go after) the other person’s insurance company to get their money back. However, you will still have to pay for your deductible.  Not fair? Maybe not, but that’s what you agreed to when you signed your insurance contract.

 

License Plates After Car Accident

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 06/01/2016

Q: After my vehicle was totaled in a car accident out my insurance company mailed my tags (plates) to from my old car to replace on the new one. Is that proper policy?

A: If you are in a state where you keep your license plate with you for life and just change the vehicle information for what it is being attached to, like in Idaho, yes, this sounds right.

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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.