BY SOLO INSURANCE®

Be a smart car insurance shopper. Regardless of where you live, from Illinois to Texas or Oregon to Virginia, here are a few things to put in your book of knowledge about auto insurance to help your overall rates. 

1.     Car insurance brand loyalty can cost you

Smart car insurance buyers shop. Gone are the simpler, short list of factors companies used to use to calculate your rates.  Today, calculating car insurance rates includes tiering and a bunch of criteria causing rates to differ greatly between people and carriers.  If your agent doesn’t automatically re-check your rates at renewals, periodically ask your agent to shop your rates for you.  If your rates are good that’s great!  Just remember, lowest today isn’t necessarily the lowest six months from now. It’s good to be your own advocate and work with an agent who will check your rates.

• TIP: Ask if your agency checks the rates of multiple companies at your renewals to ensure you’re with the best rate they have.  At Solo Insurance^® this is our promise.

2.     Your credit impacts your auto insurance rates

That’s right, your credit does impact your auto insurance rates. Good credit scores typically mean better car insurance scores which mean better rates. Not all auto insurance companies use insurance scoring but most factor it in somehow. Companies say that, historically, certain credit characteristics are useful when combined with other variables in predicting the likelihood of insurance claims. It’s insurance scoring, so it’s not the same as a bank uses to measure lending risk. Each insurance company has their own variations and focuses.

• TIP:  Do what you can to improve your credit, be sure to monitor your credit report on a regular basis and contact the credit bureau to clear up any errors.  This is another reason Solo Insurance^®  checks your rates at renewals.

3.     Stopping payment? You could pay more in the long run.

Thinking about stopping a car insurance payment?  Think again.  Sure, your policy will cancel, but at what cost? As a smart car insurance shopper, you know your provider can inform the credit bureaus, possibly damaging your credit score in the process. In addition, your insurance history will reflect a non-payment cancellation. This may cause potential new car insurance providers perhaps decline coverage or charge higher premiums based on the whole picture. Instead, be sure to complete the necessary paperwork with your existing provider, such as a policy cancellation request form.

• TIP:  It’s always best to start your new policy when the old one ends but sometimes there are overriding circumstances. Work with your agency; they’re a resource of licensed professionals. 

In conclusion

When shopping for car insurance, know that decisions you make today can impact rates you pay tomorrow. You want a good auto insurance company, but not at the expense of paying for the name. Know that your credit can impact your rate. Also, communicate with your current carrier and agent. Things like stopping payments can cost additional fees at the bank and on your policy. As with anything, being a smart shopper comes by learning about the product. In this case, the product is auto insurance.

Be a person, not a policy. At Solo Insurance^®  we shop the rates for you upfront and at renewals. We always make sure you are with our best rate for your insurance needs, for over 30 years.

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Solo Insurance® where great rates and personalized service meet.   – Veteran/Family owned since 1994 –
We shop the rates for you upfront and at renewals to ensure you get our best rate every time.
Solo Insurance® ~ 800-207-7656 ~ Soloinsurance.net ~ 
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