When Does Car Insurance Company Lower Your Premium
Reader’s Question:
I am wondering why car insurance companies need to wait for like 4 years or so before they can even consider lowering my car insurance?
Kelly
Dallas Texas
Each violation like parking tickets, at-fault accidents, or driving under the influence is allocated a specific point value. Each violation you make has corresponding number of points added to your driving record. Thus, your record gets worse if you gain more points. Each insurance company has its own way of assessing applicants in such a way that the points on your driving record may or may not have an effect on the rates you pay for auto insurance.
Have you incur violations, your policy may be surcharged. The insurance companies will take in consideration your driving record for the past three years as this is a more precise reflection of your violation history. One may say this is looking into the big picture.
You can avail of many free car insurance quotes as plenty as you want and can plug in different violations and dates to observe how they may have an impact on your premiums.
How To Find Reliable Car Insurance Company Colorado
Reader’s Question:
What are the characteristics of a good and reliable car insurance company in Colorado?
Diego
Denver CO
Spotting the good from the bad apples among car insurance providers may take some sleuthing on your part. Normally, an insured would say a car insurance company is good because its rates are low. But wait, rates are not everything. You may get a good rate from a company that will close its doors six months from now. What good does the low rates give? Nothing.
A good car insurance company in Colorado must have these characteristics: competitive rates; 24/7 availability; helpful customer service; easy claims processing; and good investment rating from different rating agencies. When you say a car insurance company should have competitive rates, this means the company’s pricing is somewhat similar to others. It is not too low nor is it too high compared to others.
Availability is about getting the services you paid for anytime of the day, any day of the week. Usually, insurance companies have online presence now so this is already applicable to most. If the insurance company is not present online, then, it is suspect. What if you got into an accident in the middle of the night and needs to talk to your insurer? This is also related to customer service. It is useless for a company to be reachable 24/7 if the people manning the phones are unfriendly, unhelpful and indifferent. Customers need customer representatives who can truly help.
Claims processing is another important consideration when rating a car insurance company. You do not need a company who will pass your call from one department to another. You need a company who can immediately process your claims. Before you buy from any company, ask for their claims processing protocol.
Finally, check out the company’s rating. If it is on the investment level, then, go for it. If it falls below the B level, don’t buy from it.