One simple way that you can receive painless savings is to compare your auto insurance on a yearly basis. This gives you savings due to competition in the market place, but you can also create more savings by understanding how auto insurance companies view risks and what standards they use to make their calculations. If you have this information, then you can make adjustments...
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I was recently in the position of changing my insurance, and wish I could have used the new law for my rates. I had been with 21st Century insurance for 5 years. For 3 of those years I lived in San Mateo, California where my premium was about $350 for 6 months. After I moved back to San Francisco my premium with 21st would have gone to $480 for 6 months. So I shopped around a bit and got my premium down to $280 for 6 months with Geico. One reason I believe Geico was able to give me a better deal is because of the questions they ask within their quoting system on their website. Questions that Geico did ask and 21st did not were whether I carpool or not and then how many days per week I drive to work. Geico also suggested because my car is older, 1993 Camry that I waive the collision and comprehensive. 21st did not have this option.
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Recently I purchased a condo in a older neighborhood.I had been a renter for years and saw an opportunity to purchase a home due to the low inerest rates.I have had the same insurance company for many years, paid and enjoyed low rates. I am over fifty with an excelent driving record.Recently I notified my insurane company of the change in address.The first thing I was asked was what is your zip code? You would not believe the rates I was quoted!! I was almost floored. I was told that the reason my rates went up was due to the area I lived in.(Texas) Has anyone ever experienced this before? Since when does someone else’s drving record reflect how much you pay? Is this fair?
J.B
Unfortunately, it’s very common. As mentioned here, the law was recently changed in CA because a lot of people didn’t think it was fair, but it is still common practice across the US.
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