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ere are many things an auto insurance company will not tell you. From the beginning when you’re shopping for car insurance to the point you need to file a claim; there are certain things they will never admit. These little secrets are ways the company can keep money and take more from the consumer. Some of the answers you enter in the application are not just for statistics; they are to adjust the cost you will have to pay. This is called your insurance score. There are many factors that make up this score.
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Location Where you Live:
When you are applying for a car insurance policy, one of the items they look at in your application is where you live. Some areas have statistically more car thefts or damage claims submitted to insurance companies. If you live in these areas you will be charged a higher premium than if you live in a location with lower crime rates. Two people with practically identical lives, identical cars and living a few blocks away from each other might pay significantly different insurance premiums from the same insurance company. The reason for this is they may have a different zip code.
Occupation of Applicant:
There is a statistical relationship between different occupations and auto insurance risk. People with occupations that are considered more stressful, spend more time on the road driving and have a high need for cell phone use is at a higher risk of an accident. Occupations that require a more detailed and regimented life with the need to keep detailed information are at a lower risk.
Marital Status:
Married drivers will pay a lower premium than a single, divorced or even a widowed driver. Statically married drivers are more careful drivers since they have family at home that relies on them.
Car Rental Insurance:
If you ever rent a car, the salesperson will always try to make you pay for damage insurance. If you own a car with full coverage, most insurance policies will cover you while driving any car, loaned or rented. Review your policy or call your insurance agent to make sure.
No need for a Lawyer:
If you’re ever in a major accident most insurance company representatives will tell you that you do not need a lawyer. Insurance companies know an attorney generally will get you a larger settlement. Insurance companies are a business to make money and hate to pay any back. This is a way for them to lower payouts and save money.
Replacement Value:
If your car is ever deemed totaled after an accident, it is your insurance companies responsibility to pay you enough money to purchase an equivalent car. Unfortunately the amount they are willing to pay is usually much less than prices you will find available or is listed in the car value rating services. The insurance companies will use their own formulas or quotes from a dealer which is not always accurate. They use excuses like your mileage, condition and repairs. It is best to keep a current maintenance history of the vehicle to dispute their claims.
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