These Events Might Affect Your Premium

These Events Might Affect Your Premium

Life can naturally be unpredictable, and various events may cause your car insurance rates to fluctuate, too. If you’ll be making a change in the future, be aware of which common milestones might affect your premium.

    • Moving to a new area. In some states, your ZIP code is the primary basis of your car insurance rate. Details like population size, crime rates and even weather can possibly affect your costs.
    • Accepting a new job. Changing your daily commute may also change your premium based on annual mileage and other risk factors.
    • Becoming a homeowner. Adding and bundling the new policy may trigger a homeowner or multipolicy discount.
    • Getting married. Marital status often influences your coverage, especially if any policyholders, including kids, will be added or removed in the process.
    • Buying a new car. This one might seem a bit more obvious, but it’s a good idea to do some research before purchasing a vehicle so you’re not surprised by your new premium.

Can you reverse a rate increase?

It may not be possible to reverse a rate increase, especially if it was due to an expansion of coverage, however sharing updates about automatic security features in your car and doing a record review of other drivers on your policy may prevent outdated information from further raising your monthly rate.

Keeping your insurance up-to-date starts with revising your policy to include major life changes. An annual review of your coverage will help make sure it still corresponds to your family’s needs.

Please reach out if you have questions or if you’d like to check in.


Posted 6:52 AM

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Facebook
LinkedIn
Twitter
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
© Copyright. All rights reserved.
“Information provided on this website does not constitute professional advice. If you have legal, tax or financial planning questions, you need to contact a qualified professional.”
Powered by Insurance Website Builder