How much do you pay for car insurance? If you are not working with an independent agent here at Couri Insurance, the answer could be, “too much.” That is because car insurance rates can fluctuate significantly between insurance companies, and only shopping with one carrier could be costing you hundreds of dollars more per year on car insurance. As an independent agency, we serve our clients with access to coverage from several of the state’s most reputable insurance companies. The right insurance company for you might not be the right one for your neighbor and vice versa. Our job is to find the right coverage for you at a highly competitive price to ensure you get everything you need from your insurance with as little cost to you as possible.
Why Do Insurance Rates Vary between Insurers?
If you have ever shopped around for coverage on your own, you probably noticed a big range in the quotes you received for the same type of coverage. While it might seem like some insurers are just more expensive than others, that is not necessarily the case. The truth is that insurance companies weight the factors in your individual risk profile to determine your chances of filing a future claim. If they determine that chance is high, you may pay more for coverage. The reason that rates differ so much is that certain insurance companies may use formulas that place more importance on the negative factors in your particular risk profile than others. The way to find the most competitive rates is to use an independent agent who can find an insurer that offers you a more favorable risk assessment.
Types of Risk Factors Weighed by Insurers
It is important to know what types of personal risk factors your insurance company considers when determining your cost of coverage. While you may not be able to change all of them, there are some steps you can take to improve others. Examples of negative risk factors include:
- A long daily commute
- A history of late payments and poor credit management
- High debt ratios
- Accidents or citations on your driver record
- One or more car insurance claims in the past 5-7 years
- Living in an area with a high crime rate
- Owning a vehicle that is at increased risk of theft
- Having a teenage driver on your policy
Of course, just as there are negative influences on your car insurance rate, there are also positive ones. For example, you may be able to achieve a lower rate if you:
- Purchase a vehicle with special safety features (i.e. anti-theft alarms, airbags, etc.)
- Have a student driver who maintains good grades
- Enroll in and complete an approved driver safety education course
- Park your vehicle in a garage rather than a parking lot or road
- Avoid making claims for minor damages
- Pay all of your bills on time, every time
Request Your Car Insurance Quotes
If you do not already have car insurance with the team here at Couri Insurance, contact us to request your free quotes. We work hard to find affordable rates for coverage that meets your individual needs. Call us today. We look forward to serving you soon.