AutoInsurancePlanners.com Offers Three Keys to Understanding Auto Insurance Rates.ANNAPOLIS Annapolis, river, Canada Annapolis, river, c.75 mi (120 km) long, rising in W Nova Scotia, Canada, and flowing SW past Annapolis Royal to Annapolis Basin, an arm of the Bay of Fundy. , Md. -- Understanding your auto insurance rates is important, whether shopping for a new auto insurance policy or renewing car insurance coverage, say the experts at www.AutoInsurancePlanners.com. To make sure you're you're Contraction of you are. you're you are you're be getting the best auto insurance rates, understand the variables and make them work in your favor. Major factors affecting rates include personal information, credit history, type of vehicle, your location, driving record and insurance history. Your best bets Some factors you can't affect, but three items that figure most strongly in your rating are also the ones over which you have the most control: Claim frequency. One accident is usually not a big deal, but two -- especially if you're at fault in one of them -- will put you in a high claims group, and that often will result in higher premiums. Your rate can be re-quoted when the accidents drop off your driving record, usually after three years. Driving record. Speeding tickets Ask a Lawyer Question Country: United States of America State: Ohio I was traveling on a two lane street with an officer driving toward me in the opposite direction. and other infractions will put you in a higher-risk category too. When you get a quote on a new policy, most insurers will use your driving record in their underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. process. Again, re-quote when your record's clean. Credit score. Insurers say there is a statistically strong correlation between credit history and insurance risk, and they review your credit score when you apply for a policy or renew. To keep auto rates low, maintain good credit: no late payments or defaults, no bankruptcies, liens or judgments. Then, review your credit report regularly, to make sure it contains no mistakes. If you find errors, have them corrected, then ask your insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. to review it and see if that affects your rates. For more information on credit reports, log on to www.ftc.gov See .gov and GovNet. (networking) gov - The top-level domain for US government bodies. and review the Fair Credit Reporting Act The Fair Credit Reporting Act (FCRA) is legislation embodied in title VI of the Consumer Credit Protection Act (15 U.S.C.A. § 1681 et seq. [1968]), which was enacted by Congress in 1970 to ensure that reporting activities relating to various consumer transactions are conducted in a . There are many auto insurance companies out there and each one calculates rates a bit differently. So if you want to assure you are getting the absolute best car insurance rates, use comparison shopping at web sites like www.autoinsuranceplanners.com. For more information, contact Sean Denny at denny.sean@comcast.net. Reprints of this article are allowed for your site or newsletter with inclusion of this credit: "Reprinted with permission, www.autoinsuranceplanners.com, your one stop shop for multiple auto insurance quotes online." |
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