Three Tips for Car Insurance Savvy

Whether you’re in Indiana, Illinois, Kansas, Louisiana, Missouri, Nevada, Ohio, Oregon, Texas or Virginia (or the rest of our 50 states), here’s a few things to put in your book of knowledge about car insurance. 

1.      Brand loyalty can cost you
Gone are the simpler, short list of factors companies used to use to calculate your rates.  Today includes tiering and a multitude of criteria causing rates to differ greatly between carriers.  Periodically ask your agent to shop your rates for you if they don't do it automatically.  If your rates are good that’s great!  But lowest today isn’t necessarily lowest six months from now.

·        TIP: Make sure your agency checks the rates of multiple companies at renewals for your coverage to ensure you’re with the best rate they have.  At Solo Insurance® this is our promise.

2.     Your credit impacts your insurance rates
That’s right, your credit does impact your insurance rates.  Not all providers use it but most do in some shape or form.  The theory behind it is they have found that certain credit characteristics for an individual are useful, when combined with other variables, to predict of how likely it is that the individual will have an insurance claim.  It’s insurance scoring, not the same as a bank uses to measure lending risk.

·        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.  Another reason Solo Insurance®  checks your rates at renewals.

3.     Stopping payment? You'll pay in the long run
Thinking about stopping a car insurance payment?  Think again.  Sure, your policy will cancel, but your provider can inform the credit bureaus, damaging your credit score in the process. Plus, your insurance history will reflect a non-payment cancellation which may cause potential new providers to perhaps decline coverage or charge you higher premiums. Instead, be sure to complete the necessary paperwork with your existing provider, such as a policy cancellation 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.  At Solo Insurance® we tell you like it is and help where we can acting as a liaison between you and your insurance company.

At Solo Insurance®  we shop the rates for you upfront and at renewals, always making sure you are with our best rate for your insurance needs.  Like us on Facebook, follow us on Instagram and Twitter @thesoloins. 

Solo Insurance®  800-207-7656  Get a Quote:

-- Family/Veteran owned since 1994 --

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