Why Your Insurance Goes Up Without Any Notice
You got a notice from your car insurance company indicating that your premium has increased. You’re confused as to why this happened because it may seem that it increases for no reason. Most of the time usually that isn’t the case, there are many different factors I can drive your insurance premium up without you doing anything.
One thing’s for certain the number of vehicles on the road is rapidly increasing which also rises is the rate of auto insurance accidents in parallel. And now with vehicles being improved year by year, it’s a given that they’ve become much more expensive to repair. Send out vehicles that you were able to repair before almost always being deemed a total loss because the repair value of the vehicle is more than the actual cash value. And because of that auto insurance companies have to pay.
Now this is one thing that just causes insurance premiums to rise, without you doing anything its just simple innovation. But here are some factors that are directly affected you which would cause your insurance premium to go up.
If you recently opened a new account, purchase a new vehicle or even a new home it does take a toll on your credit score. Your auto insurance company uses your credit score did to help determine your premium.
Now a lot of people think that this isn’t fair because people who are cautious drivers you don’t have many claims on their insurance see Insurance increases due to the fact of their credit score changes.
When you move to say your address it can either be beneficial to you or not. One major factor that drives your insurance premium is the location. If you move from a bad neighborhood to a better one definitely expect a rate decrease as opposed to an increase. But for example, if you move into an area that’s highly populated with a lot of accidents year-round you should expect an increase in your insurance premium.
It’s like a marketing scheme, on your insurance premium your pain monthly roadside assistance that can help you in answering that you need it. The catch to this is that if you do actually use roadside assistance for free Towing, some of the auto insurance companies actually categorize that as an at-fault claim. Now that’s not cool.
When you actually file for a free Towing, just know that it can be one of the most expensive toys you ever had. Auto insurance companies actually follow through your clue report which is essentially 7 years’ worth of History of Auto and property insurance claims. Now that you have something against you with your current auto insurance company, it really does limit you from shopping around for a better premium.
Statistically a married couple is less likely to file an insurance claim. That’s why if you get married it’s best to notify your insurance company so that you can save money each month. Now it’s also true for the reverse cam if your relationship status changes to divorce, you should expect your insurance premium will go up as well.
Telematics (Usage - Based Insurance)
You’ve heard about the telematics base insurance policy, right? Well if you haven’t click here to find out what it is.
It’s a great system I can help you save a lot on your auto insurance. It helps you avoid all these different factors that come together to a standard premium, and it’s solely based on your driving ability. Now if you’re a good driver, you’ll be happy with your insurance premium.
But there are some people who actually see height increase on their insurance premium by just using this system. For example, if you’re driving 1000 miles each year, it’s inevitable you’ll have a lower insurance rate. Now if you’re still using telematics-based insurance and all of a sudden you will go up to 10,000 miles a year oh, you’ll see an increase. The reason for this is because the probability of you getting into an accident 10 times more likely because you’re on the road more often.
There are many different factors I can increase your auto insurance premium without you knowing. Which is why it’s always best to take advantage of shop around find better deals. Sometimes even looking locally can help you save a ton of money simply because they’re able to get much more aggressive rates against the larger competition.
If you want to get a quote to save on your auto insurance premium click here what can I do with the nearest local agent to you?