Insurance Blog

Archive for the ‘Insurance Agencies’ Category

With a stagnant economy, prices on everything rising, the constant threat of high gas prices, and recent sales and state tax hikes on our automobiles has made it important to find ways to save anywhere we can. A big and easy area to save lots of money is auto insurance. It is amazing that regardless of the commercials like Geico and Progressive telling people to shop for the best rate that 90 percent or more never do. You need to make sure you are getting the best deal possible. You work too hard to through easy money away and make insurance representatives and executives rich. Recent research shows that you can save hundreds or even thousands of dollars just by making a few phone calls and shopping around a little bit.

According to the Insurance Research Council the average savings by shopping around auto insurance carriers is $847. That is $847 per year and that is a lot of money to throw away. To start saving first call your auto insurance company and ask if you are getting all the discounts you qualify for. Most will happily oblige you on this as they want to keep their customers happy. Discounts could be for things like no accidents, age, sex, driving history, college student, even good grades (I believe just Allstate has this one right now). Discounts of 2 percent to 5 percent may not seem like much but could easily become several hundred dollars or more per year really fast. The biggest deduction is usually a clean, accident free driving record and that can be from 4 to 20 percent or more per year in savings. Just be careful as it only takes 1 infraction to nullify most or all of these discounts.

Check and see if you have any points on your license. If you do not remember if you have had a recent (last 4 years in most cases except DUI), just call your auto insurance agency. They can tell you exactly how many points, why or what the infraction was and what you can do to fix or reduce them. Many auto Insurance agencies or companies sponsor safe driving classes if yours does not a simple call or visit to your local DMV will reveal many classes that can remove or lower points and reduce insurance costs or award deductions. Many of these classes are only a one day affair for 4 to 5 hours. Some are free and some may cost $20 to around $50. Regardless, in what they will save you in one year alone it is well worth it.

And the big one, shop around. You need to do this every few years even if your current auto insurer is the best, they may not be in two years. Rates are constantly changing along with crash test and theft recovery numbers. It also depends on where you live. If you have recently moved or are planning a move then shop your auto insurance. The same Auto Insurance company may have totally different rates (and probably does) in different cities. Even if you have had some recent infractions or just received one, shop your rate. You need to do this as you will save big money. The average savings for all insured persons that shop their rate is $847. The average for those that do not is obviously a big fat zero. Definitely include Progressive and Geico in your shopping as they will usually have the lowest rates and best service. I have personally found Progressive to have the lowest rates in New York and North Carolina.

It is also a good idea to drive safely and to continue to drive safely (non aggressively). It will not only save you big on insurance, but it could save your life or the life of someone else. And never pass a stopped school bus. There is a reason why its 4 points or more on your license, respect school buses and kids for they may not always see you and if something bad were to happen you would never forget or forgive yourself.

David Maillie
http://www.articlesbase.com/automotive-articles/how-to-save-big-on-auto-insurance-costs-59836.html

I am looking at buying a GSXR 600 and you would think that I am looking into a Ferrari from these quotes. Are there any companies that are reasonable? I have check mostly the big three for bikes- Geico, Allstate, and Progressive.
Also If I put my truck with the same company does the multi-vehicle discount take off much.

well from personal experience of calling around and getting quotes, the bigger and more knowm companies are the MOST expensive. try finding small agencies, ones that dont advertise. look in the phone book too for ones you never really heard of, they usually have to lower rates

They are Americas biggest rip off, next to the gas prices.
It’s funny that you say that pfd or what ever your name is. A lot of people who actually have Health Insurance often run into a great tradedy, and get denied what is needed for them to get a vital operation and other medical attention.

Ok, so I’m going to answer this question as an Insurance broker. The statement you make in your question is very misguided and ignorant. I think the better question to ask is "when will people start paying attention to the insurance they buy?" People need insurance, it’s that simple. You buy a lot of stuff, you own a home or a car, or want your medical bills paid, you need insurance. It’s as essential as needing a place to live. To answer part of your question, insurance agencies are regulated by the governmernt. In fact, if an agent does something wrong, their license can get revoked extrememly fast. There are two types of agencies, direct writers and independent writers. Direct are ones like GEICO, Allstate, and State Farm. They only write for that company. But independent agents, like myself, don’t work for a company, we work for the client. We represent many different companies and shop the application to get you the best possible price. We are here to understand and explain the policy, and suggest coverage for people like you, who most likely don’t ever look at their policy unless something goes wrong. And don’t get agencies and companies confused. Agencies are the little corner places where you buy insurance. People today only want the best price, not the best coverage. You can tell someone all you want that GEICO isn’t covering them as well as they should be, but even for an additional $50 will they listen? No. And the reason why you feel that insurance companies are America’s biggest rip off is because of people who commit insurance fraud. Just like any other company, insurance companies need to protect themselves, and when people commit fraud, they have to raise their rates. Go find yourself an independent agent and have them do all the work. That’s what they are there for. Stop using the internet to get your insurance.

Also, to address something else, gas ins’t a rip off. Go to another country and find out how lucky you are to be paying only $4 a gallon.

Edit: @ pdo: your statement is a little off. All banks require the purchase of homeowners insurance before you close on your home. However, Renters Insurance is optional.