what influences insurance cost


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We continue cycle of articles a theme about auto insurance in U.S. The beginning about a theme of insurance look motor insurances at USA.

on what is possible and on what is impossible to save.

The factors influencing cost of insurance very many and that it important to know, – there are differences between the companies in how they look at those or other problems and in that, what discounts and on what they offer.

Moreover, very important to understand, that the agent or the broker representing this or that company, knows about ways of decrease costs 10 times more, than we can think from outside.

Moreover, among skilled and knowing agents is such who works with a considerable quantity of new emigrants – they know more nuances of how pull out from system the best quote. Because insurance of beginners has the features.

So, insurance cost influence:

- The car (the quote, age, model, presence some established technical details).
The agent, entering into system VIN (vehicle identification number) – 17-place combination figures and letters, instantly receives all information on the car and factory manufacturing.

- Car use (commute, pleasure) and annual mileage.
Answering questions about mileage beginners often tell something inadequate, for example, 10 thousand a year. Pardon, work is not present, or to it goes on foot (goes on tram). Whence 10 thousand? What for to pay what at all the fact?
Very often people have overestimated figures.

- The driver – the driving experience, tikets and incidents for last 3-6 years

- Territory, literally zip code that place where car remains for night

- Set coverings (liability, property, medical, towing, rental car, glass deductible buyback)

- Size covering and chosen deductible

- Special discounts :

1. 2 and more cars in family, if they insured in same company.
2. Insurance presence renters (renters insurance) or the house insurance in same company where cars insured.
3. The profession (the list enough big) – the engineer, the doctor, the teacher etc. This discount extends on all drivers in family.
4. The experience insurance with this company (persistency discount)

Keep in mind that criteria on which defined to give or not to give this or that discount, is strongly separated not only from company to company, but also, strangely enough, from agent to agent, working on same company.

For example, you give to agent the foreign diploma. It twists it in hands and speaks:

- The agent №1: We do not set off foreign diplomas

- The agent №2: You owe it evaluated. Here phone. Pay 200 dollars, receive through month the inquiry, and will send to me. Without it discount (15 %) I can not give.

- The agent №3: Now we will make copy. Then I will translate him and I will start in proceedings. Discount receive from first day.

All three agents know the business, but knowledge of some details at them miscellaneous.
The first has no experience with foreigners. The second knows only formal requirements, but does not know as actually works underwriting department.
The third knows on what looks underwriter and does adequate translation which suits all.

There are good and simultaneously cheap coverings on which impossible to save basically simply because so very cheaply:

- Uninsured Motorist (8-10-12 dollars a month)

- Comprehensive. I advise to have minimum deductible – dollars 250, for example. Difference between 250 and 1000 deductible will be steam dollars a month.

The most expensive part in car insurance is Collision that is explainable – the car broken also and it necessary to repair. Manipulating deductible in this covering, we see very serious difference in quote.

Basically, the cost Liability is comparable about cost Collision, but manipulate in Liability we can only a coverage amount, that absolutely inadmissible, differently we risk very serious losses at serious accident.
Therefore, if is necessary remain within limits of modest budget, increase deductible, but do not touch Liability. Still possible to get rid some convenient, but not critical coverings, for example, the rent car.

Necessary make of all aforesaid only one, essentially important conclusion for the beginner:

Conclusion №5 – not insured in online or by phone, it is dangerous and too expensive. You with the agent or the broker to which you is necessary to you will come to office, will sit down near to it at computer and online will work together with it from a half-hour with your insurance.

With respect , Juri Nikolaev    

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Information source http://www.govorimpro.us ( Mikhail Portnov ) are licensed insurance agent (California)

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