Auto Insurance – What Determines the Price of My Policy?

How did the insurance company settle on a price for your auto insurance policy? The price you pay for car insurance was most likely calculated using many pieces of information specific to you and the vehicle you choose to drive. Generally speaking, insurance companies all use the same information in determining the price to charge for a certain risk, however, the weight each company applies to these individual factors may make a substantial difference in the price you pay.

Personal Characteristics:

Age.

In general age will be a larger factor for individuals under 25 years old. For drivers over 25 car insurance age classes are generally fairly broad, for example, 25-49 or 50-74.

Sex.

As with age, in most cases younger male drivers cost more to insure than a female of the same age. When age increases beyond 30 male and female prices are more comparable or even the same.

Credit.

Credit is a factor that only recently has become more prevalent in determining the price you pay for insurance. The use of credit for determining car insurance premiums has been legally challenged in some states and in some cases deemed as an unfair rating practice.

Experience.

The amount of years you have been continually licensed in the United States is used as a rating factor with some insurance companies charging substantially more for what they define as inexperienced drivers.

Tickets & accidents.

When it comes to determining the risk associated with a specific driver, ticket and accident history can provide an insurance company with a reasonable expectation of future claim activity. An individual with a number of driving incidents is usually determined to be a higher risk and therefore will be charged more for insurance.

Claims.

Although someone may have a few claims on their record that does not necessarily mean that person represents a higher risk to the insurance company. Claims such as windshield repair for rock strikes, towing, or claim payments for not at-fault accidents do not necessarily indicate more risk. However, some companies can and do use “claims frequency” in determining a personal insurance score for each customer and multiple claims even if not at-fault could have a negative effect on the calculated policy premium.

Where you live.

Car insurance policy prices are based partly on the territory in which the customer lives and drives. A policy in Cozad, Nebraska in theory will cost less than the same policy in Palm beach, Florida. The obvious reason is that the traffic density, car theft, storm damage, and lawsuit risk are much higher in Florida and therefore the price of car insurance should reflect that additional risk.

How much you drive.

Less time on the road means less exposure to the risk of accident and on the other side of the coin if someone drives 100 miles per day they are at more risk and higher exposure to accidents and the possibility of filing a claim.

What you use the vehicle for.

If the vehicle is used for business or to transport clients the risk is increased. For example a realtor who drives prospective home buyers around in their car all day is not only on the road more but is also at risk of being responsible or partially responsible for injury to the occupants of the vehicle. The price of insurance coverage increases when the vehicle is used for business pursuits. Additional coverage’s may also be needed to provide the insured with comprehensive protection from risks unique to business use.

Other people living with you.

Insurance prices are determined by exposure to risk. If other licensed individuals reside in your home and have access to your vehicle the insurance company may charge more money depending on these other individuals driving history and personal insurance coverage. If additional drivers are not disclosed to the insurance company in the original application and then are in an accident the insurance company may choose not to cover the claim because on material misrepresentation.

Vehicles Characteristics:

Engine size.

Many car models come in different configurations, such as, sport or luxury. A Ford Mustang with a 4 cylinder 100hp engine will be priced differently by the insurance company than the Shelby Cobra Mustang with the 350hp V8 engine. The potential performance increase also increases the risk of accident.

Value.

Although not as big a factor as many people may think it is still reasonable to believe that the potential loss of a $100,000 2010 Mercedes compared to a $2,000 loss for a 1995 Honda Civic will cause a high valued vehicle’s comprehensive and collision coverage cost more.

Safety features.

In most cases newer cars are equipped with more and better functioning safety features. This is important to the insurance company because the injuries the occupants of the vehicle sustain the less money will need to be spent on the medical portion of an insurance claim. Safer cars receive discounts on the medial and uninsured motorist portions of coverage.

Although each car is different the factors used to determine risk stay the same. Simply stated they are: How much does it take to fix the car? How much does it take to fix the people inside the car? How much damage can this car do to other people in other cars? The answers to these questions help each insurance company price the risk they accept when insuring your car.

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Age Concern Travel Insurance Makes Traveling Worry-Free and Enjoyable

Nothing is more exciting than planning a trip abroad, particularly when you are 50, 60, 70 or even older and can afford the time to relax and enjoy yourself. At this point in your life, you deserve to be able to focus on yourself and those things you enjoy. Age Concern travel insurance takes away much of the worry you may have when you head off for relaxing or exciting destinations unlike some other travel insurance companies that want to penalize you or deny coverage because of your age.

Reaching the “golden years” is a milestone in life that should be enjoyed; this is a time when you no longer have to work every day, your children are raised, and you have the time to do those things you’ve always wanted to do. You may want to travel and see the world, or simply escape so that you can enjoy the beauty of your surroundings, read a good book, or even go dancing. When other companies deny you insurance coverage that will protect you as you travel abroad, Age Concern travel insurance is designed specifically for people just like you.

Never assume that your standard insurance will cover you should you decide to go on holiday, because most of them will not. The best solution is to obtain insurance that is tailored to your individual needs, so that you have what you need and do not end up spending money for coverage you do not need. Age Concern travel insurance offers tailored coverage, so that you have exactly what you need and can feel secure knowing that should the unexpected happen, you’re protected.

The fact is, most people have no idea how insurance works in foreign countries or what would happen should they become ill or injured. In order to protect yourself not only physically but financially, it is essential that you obtain the coverage you need. For example, if you should become injured in an accident and be hospitalized, will your insurance cover your hospitalization? Make certain that it will, otherwise you could find that the hospital bills climb to a cost far larger than what you have spent on your holiday – and the hospital may require pre-payment for treatment, which could devastate you financially. Age Concern travel insurance protects you from scenarios like this, so that a trip abroad doesn’t end up being your worst nightmare.

In all honesty, many standard insurance companies will not offer coverage for traveling abroad to seniors because of the risks involved. If you have a pre-existing medical condition or plan to do any type of activity that the company may see as risky, they may deny coverage. Age Concern travel insurance knows that this is the point in your life when you really want to enjoy yourself and do all of those things you have long dreamed of doing. Just because you’re 60 or even 80 years old does not mean that you should be resigned to staying at home – this is often when life is just beginning!

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Does Age Affect Insurance Rates?

Facts state that age is inversely proportional to insurance cost. People start driving their cars during their teenage years and continue doing so for as long as they can. However, insurance companies look at teen drivers as their liability, while they give 40-year-old drivers quite an advantage. How does age affect the insurance rate?

Teens

Teens at the age of 16 can start driving after getting their license. Car insurance for 16 year old teens is quite expensive. That is why many parents just include their teenage child to their insurance policy. However, including a teenager on your insurance could be equally disadvantageous. The cost of your insurance when you include your 16 or 18 year old son or daughter on it could double. This is because teens have insignificant driving experience, making them vulnerable to driving accidents. Statistical data support the assumption that more car crashes are caused by teens than by adults.

Auto insurance for 16 year old drivers may be less expensive under certain conditions. Teens with good grades may be eligible for less expensive insurance policies. Also, owning an older, less expensive car allows them to avail of cheaper rates.

College Students

Drivers in their late teens and early twenties, usually college students, may avail of cheaper insurance rates than 16-year-olds. But don’t be too hopeful. This age group still falls under the high risk category for insurance companies, and insurance rates for them may still be above the average. Insurers look for certain conditions when assigning rates on the insurance of a college student. One is how often they need to drive and how far they are from school. If your son or daughter moves out of the house and moves someplace near school, then their insurance rates can drop.

Adults

People between the age 24 and 40 get favorable rates due to the fact that they are already experienced in driving and have jobs. People in this age group are more responsible and more careful. They take less risk in anything, including driving. By this age, they already know the value of money. They want to drive carefully because they know the consequences of bad driving habits. They don’t want to do anything that will drive the cost of their insurance up in the future, because they know the value of money they work hard for.

Of course, not all adults are good drivers, but majority are. This makes them eligible for lower insurance rates. Rates may be affected by gender. Men may get higher rates than women, because adult males have more bad driving records. But basing the difference on age alone, it can be assumed that car insurance for 16 year old drivers is significantly more expensive than that for 25 year old drivers.

However, being an adult does not guarantee you of average cost insurance. Age is just one factor that determines insurance rates. Even if you reach 50 and are enjoying low rates, your fate can suddenly change if you are caught driving under the influence of alcohol or if you got involved in a traffic accident. In other words, you can enjoy good insurance rates as long as you keep your good driving record.

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Age Concern Travel Insurance – The Choice of Savvy Travelers 65 Or Older

If it seems like most travel insurance companies want to penalize you by charging higher rates because you are older, it isn’t your imagination. Age Concern insurance is an option you should consider if you are 65 or older and don’t plan on slowing down anytime soon. Today, 65 is the new 45 – and people age 70 and even 80 are having the time of their lives.

This is the time in your life when traveling is most enjoyable; you’ve raised your family, worked hard, reached retirement and now it’s time to have some fun. Age Concern travel insurance lets you do just that without spending your life savings to make sure you are covered should anything happen while you kick your heels up!

Most travel insurance companies charge higher rates when you get older simply because there are more risks involved when you travel. You may have existing health conditions, and if you participate in activities such as skiing or sailing, you may be at an increased risk for injury. Age Concern travel insurance is different, and considers the needs of those who are 65 and older and who travel abroad. They understand that just because you reach a certain age, you should not be expected to sit down and do nothing. If you travel multiple times per year, you may want to consider annual coverage, which protects you each time you travel out of the country.

Many people of all ages have medical conditions that require medication or periodic check ups. When you have a pre-existing condition, many companies won’t insure you, or they will charge you an arm and a leg. With Age Concern travel insurance, you simply fill out a simple form regarding your medical condition to find out if you qualify for coverage. With many travel insurance companies, you will find that there are upper age limit levels, but with Age Concern this is not an issue.

Unfortunately, some people take off on a trip without a thought to travel insurance, which leaves them wide open for a whole host of problems. What if you were to be involved in an accident, and had to be hospitalized in a foreign country? Many hospitals will charge you by the day, which can bankrupt you financially. If you are an active person who enjoys skiing, fishing or participating in other activities that could result in a broken hip or strain, what would happen if your were in Australia without coverage? Concern travel insurance provides many different types of coverage, based on your particular needs.

You may or may not realize it, but Medicare and Medicaid will not cover you if something should happen while you are traveling outside of the United States. By closely examining all of the features offered by Age Concern travel insurance, you can embark on your next holiday without a worry in the world, which means you will thoroughly enjoy your travels.

Before you take off for parts unknown, know what you will be doing while you are vacationing abroad, and what activities you plan to participate in. This will help you better determine what type or how much coverage you will need, so that if anything should happen you are covered. Age Concern holiday insurance understands that life goes on, and you’re planning on having the time of your life for years to come! You’re not getting older, you’re getting better – and having more fun than you’ve ever had in your life. Live life to the fullest without worries as you travel the globe.

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Cheap Insurance Companies and Their Services

To some people, cheap insurance companies are merely a myth, to others a reality they do not ever want to acknowledge, but one fact remains the same. Cheap insurance businesses are a commodity most people do not avail for different reasons. Some are scared that they might end up paying more than advertised others just do not want the extra expense.

It is true that there are quite a lot of insurance businesses out there on the internet that are not cheap at all, as well as insurance companies that are cheap and offer the best service. Then there are also cheap insurance businesses that are not just cheap with awful service (these are the ones you would want to avoid). If you want to save money while spending yet at the same time get the best service you will have to do some search into various cheap insurance companies.

There are two ways to find a good insurance company; online and by roaming around, but there is only one way to get a cheap insurance from a company i. E. Search the internet. The reason is simple, where an insurance company caters to clients across the state or just in your area, an online insurance company caters to people across America, and more business means better competition, which ultimately leads to cheaper and lower rates.

Keeping the above equation I know you will agree that the best deals are to be found online, however if you up and want to do business with the most advertised of insurance dealers, you are surely in for a heart-break. These companies in order to compensate for the high costs of advertisements offer some pretty high rates to their customers.

If you truly are looking for a cheap and reliable rate for your insurance, it would be wise for you go for the moderate kind of insurance businesses. These companies could be anywhere after the first ten or so search results. You can also choose to narrow down your results to your city, state, or even by using your zip code if you are searching for a company locally.

Remember to check on the bare minimum of insurance prerequisite in your state and then go forth with negotiating the essentials before negotiating the rates. Almost every state has some sort of bare minimum for their citizens insurance policies these days and it is entirely up to you to convert this slight problem into a blessing that does the most good for you.

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All About Insurance and How to Find Cheap Insurance

Insurance is very important. The way that insurance works is that a whole lot of people pay a small amount of money into an insurance pool. This pool of money will protect these people against some sort of risk, such as the risk of your car getting stolen. Because many people pay money into the pool, the pool becomes rich and full of money. Then if one person who has paid money into the pool gets their car stolen, then the insurance company will give them money out of the pool. The insurance pool can pay out much more money than that individual person had by himself.

The only reason that insurance works is because the problem that is the risk isn’t so big that it happens to everyone. Just think if everyone who invested money into the insurance pool had a car that got stolen, the insurance company wouldn’t be able to pay everyone out lots of money. Insurance companies spend huge amounts of money paying risk analyzers to work out how much risk is in place. They also pay an effective legal team to stipulate good terms and conditions so that clients don’t take advantage of the insurance company by making false claims.

Of course the bigger the company and the more clients it is, the more likely it is to be able to offer cheap insurance to the buyer. The more people that pay money into the pool, the bigger the pool of money becomes.

Well known companies are also able to offer cheap insurance, because they have a far bigger marketing budget, so they can reach more people and potential clients. It s also good to go with a big company, because they are more likely to be able to pay you out. They have a reputation to uphold.

On the other hand, big insurance companies have very good legal teams, so they might have to get out of paying you, by referring to small print in the contract that you may not have seen. So whenever you buy cheap insurance be sure to read the small print.

It is easy to find cheap insurance nowadays. Many companies are offering great deals. And a simple internet search will have you face to face with insurance quotes in no time at all.

Insurance is available in all sorts of areas. You can get insurance for your possessions such as your house, car or boat. You can also get health insurance or travel insurance. Some Insurance companies offer cheaper insurance packages to women. Some health insurance companies will not cover you if you have pre-existing medical conditions. You also get cheap life insurance or funeral plans.

Some people may want to insure their body parts, for example a hand model may insure her hands, because if she no longer has them she cannot work. You can basically find someone to insure you for just about anything. When you make a deal with an insurer, you are basically saying, in exchange for paying you a small fee, you will take financial responsibility for me if the stipulated event occurs.

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Compare Cheap Insurance Quotes – Save Time and Money by Comparing Cheap Insurance Quotes

How does your decision to compare cheap insurance quotes on the internet help you save precious time and money? The insurance market has become so competitive that it is impossible to identify a single insurance company as the best one around. There are many variable factors including the type of insurance that one wants, income and lifestyle of the individual, the asset that one wants to insure and the amount of premium that one is prepared to pay. In such a scenario, one cannot blame an individual for opting to compare cheap insurance quotes instead of entering the confusing world of insurance analysis.

How do you save money when you compare cheap insurance quotes? If you opt for quotes comparison, chances are very high that you will quickly identify the cheapest and most beneficial insurance policy for your life, car, home or any other asset. You will get a clear tabular analysis which will tell you how much one has to pay for each and every policy under consideration. If you do not compare cheap insurance quotes, you will have to prepare a comparative statement manually. This is next to impossible considering the fact that the average individual is rarely, if ever, conversant with how insurance policies work.

Another reason why one should compare cheap insurance quotes is that it helps save a lot of time. Getting quotes online helps you get all the information you want in a jiffy. You need not visit each and every insurance company’s office just to compare cheap insurance quotes. You need to state the amount of coverage you want and the amount of premium that you will have to pay will be flashed on the screen instantly. You can also get quotes through the telephone. In either case, a lot of time and effort shall be saved. If one considers the gas that one saves by avoiding visits to numerous insurance offices, the benefits of these free insurance quotes become even more significant. Never again will you have to take time out of your busy schedule to complete insurance related paper work. The web will help you take care of all that.

It is important to compare insurance quotes before getting signed up with an insurance policy. When you compare insurance quotes you can rest assured you are saving both time and money because you are guaranteed to get the lowest insurance quote.

Given the current recession it is important to make sure to prioritize your money and compare insurance quotes online. A good place to state would be an online website that actually allows you to compare insurance quotes online for free.

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Compare Cheap Insurance Quotes – Save Time and Money by Comparing Cheap Insurance

Before the invention and wide accessibility of the internet, people had to call around to compare cheap insurance quotes. They could spend hours of their lives on the phone only to find out that the best policy for them was the first one they called. They would then have to call the office back and go through the explanation again. Once they did they still had to go down to the local office and sign paper work and make a payment before they were insured.

Thankfully, times have changed and people don’t have to spend hours on the phone just to find the best rate. Logging on and going to your prospective insurance company takes a lot of time too. So how do you compare cheap insurance quotes to get the best deal on your car insurance? Just go to your favorite search engine instead.

By doing a search to compare cheap insurance quotes you will find a list of sites that offer multiple comparisons right on their site. Generally, these sites are not affiliated with any specific insurance company so you can be assured an accurate comparison.

It’s simple to compare cheap insurance quotes this way. All you have to do is input your information one time. Set the restrictions for coverage type and deductibles and hit the compare/search button. Within seconds a listing of all the major insurance companies will be appear on your screen. You can scroll through them and find the one that has the best coverage at the best price for you.

Often these sites will allow you to purchase insurance directly from them and offer discounts for doing so. By comparing cheap insurance quotes on line through one of the sites will save you time and money.

If you prefer spending endless hours on the phone just to get the best rate go right ahead. Using the internet can take the hassle out of buying car insurance. Who needs another headache when all you’re looking for is the best coverage in your price range?

It is important to compare insurance quotes before getting signed up with an insurance policy. When you compare insurance quotes you can rest assured you are saving both time and money because you are guaranteed to get the lowest insurance quote.

Given the current recession it is important to make sure to prioritize your money and compare insurance quotes online. A good place to state would be an online website that actually allows you to compare insurance quotes online for free.

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Comparing Cheap Insurance Quotes – The Best Trade Off Between Premium and Deductible

Shopping in general involves a lot of decision making. You have to be even more careful and use more analysis when buying insurance irrespective of the type of coverage you are looking for. You have to get an affordable deal that offers sufficient coverage. The best way in which you can do this is to collect as many cheap insurance quotes as possible. You can get this job done in no more than half an hour if you use the services of an online provider that gives you a bunch of offers from different insurers for free.

The more difficult part comes next. You will have to compare the different cheap insurance quotes you have obtained. It is essential for you to look for the most affordable of all deals. Apart from analyzing the rates you should check whether the insurance company offers any discounts that you might be eligible for. More importantly, you have to decide on the trade off between the premium and the deductible you will have to pay. Setting these two costs correctly will allow you to save a lot of money and to manage your budget more efficiently.

The premium is basically the fee that you have to pay annually or monthly for the coverage you get. In case you make a claim on your policy and the insurer approves it you will have to pay a deductible. It can be a set sum, but in most cases it is a percentage of the cost of the claim. You should also keep in mind that with health insurance plans the deductible is fixed and has to be paid once a year. Generally, the higher the deductible is the lower the premium is and vice versa.

You can save a lot by increasing your deductible. This is particularly beneficial when you buy auto and home insurance policies since you will have to incur this cost in an event that may never actually happen. At the same time everything is possible. Thus, it is best for you to set a deductible that you can afford to pay it at any time. You have to decide on how much you would want to increase this cost depending on a number of factors.

The main one is the premium. Generally, the experts recommend to any buyer to accept as high premium as they can comfortably afford. You should do some calculations in order to decide how much of your monthly income you can set aside for insurance. At the same time you have to take into account your savings. They will allow you to determine how much you could afford to take out of your pocket if you made a claim today. If this sum is not very large, you may think twice before setting a way too large deductible.

Overall, it is up to you to decide on the best trade off between premium and deductible. This is an individual decision that you have to take when comparing cheap insurance quotes. You have to make your choice by taking into consideration all relevant factors.

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Low Rate Health Insurance Quotes – Find and Compare Cheap Insurance Rates Online

First, ask your friends around you about the insurance policies, which they are using, but the most important thing to keep in mind is that your friend’s need may be different from the one, which is used by you.

The other thing is that you should not opt for a particular plan just because your friend has recommended to you. Instead, you have to go through the plan carefully and see that the plan provides you with different type of services that you are looking for. After all the research, one could choose a plan and can proceed with the plan.

The advantage for looking out for cheap rates online is the competition that is present among the insurance company’s, and each insurance company is alert of it. If you are looking to have cheap insurance then you have to compare the rates with different companies.

The most important thing to look out for is the zip codes, which are even ten miles from each one can actually have a huge difference in the periodical premium charges that is to be paid. This is also based on cost of livelihood and other factors as well.

If you are making a health insurance online, then you have to fill up the form online, where you have to answer some questions and it is a very fast process. There would be some general questions asked such as the age, the degree of risks, and the terms of premium and there benefits that is offered on the plan.

You can opt for a particular plan, which offers the services and the features, and if you think that, it will help your needs then you can opt for it. Some of them are comfortable with catastrophic insurances that would guard you from costly hospital and medical bills, but cannot have the coverage of doctor’s visits until a huge deductible is met.

Given the current recession it is important to make sure to prioritize your money and compare insurance quotes online. A good place to state would be an online website that actually allows you to compare insurance quotes online for free.

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