Frequently asked questions
Why do insurance agents/ companies ask for so much personal information?
Insurance Companies do require a lot of information compared to 20 or 30 years ago. The reason for that is to achieve a more personal or individualized rate for the consumer. Someone that has been insured with the same company for 5 or more years is going to get a better rate than someone that switches every year to save a few dollars. It shows loyalty and companies reward that. Twenty years ago, basically all we needed to know, to give an accurate quote was your name, date of birth, and driving history, and what type of vehicle. Companies now give discounts for being a homeowner, having a college degree, claim free, loyalty, higher limits of liability, and a favorable credit or insurance score.
What can I do to lower the cost of my insurance?
Many things can be done .. Insurance companies give discounts for people that have payments automatically deducted, paperless billing, paying in full, etc.. If you own a home, it can also help to have your home insured with the same company that your vehicles are insured with. There are many others ways on both the home and auto policies to save. I do not have room on this page to list them all. Simply call and I will discuss them all with you.
Why is my social security number needed for a quote? What does my credit or insurance score have to do with my insurability?
This is probably the question we get the most. Whatever your opinion on this issue, it looks like the use of credit is here to stay in the insurance world. Insurance companies have people that analyze data every day all day. They have proven that people with poor credit are more likely to have claims and less likely to keep accounts in good standing i/ e pay premiums on time. They have the percentages and numbers to prove these findings. This isn’t to say someone with poor credit is always a bad risk. The companies data or numbers, overall support this conclusion.
If I have a claim, are my rates going to go up?
Not necessarily. This depends on the type of claim. If you were receiving a claim free discount your premium may go up on renewal. The reason I say may go up is because there are so many factors at play when determining a premium. If this was a home policy and you recently put on a new roof or installed a new furnace, these updates are also discounts with most carriers and might offset the fact that you lost your claim free discount. I cant stress enough that the fact your neighbor is only paying ___ means nothing anymore. Rates are 100% specific to the person or entity being insured.