Overcoming High Prices for High-Risk Drivers in California

Insurance is a means of sharing risk so that insurance companies have enough money to pay claims in the event of a loss to one of their policyholders. Since certain drivers are at a greater risk of getting into an accident than others, California auto insurance policies often cost more for these people than for low-risk drivers. There are ways to overcome high California automobile insurance premiums for high-risk drivers, and the following represents just a few of them.

Ask About Discounts for Good Grades
Young people under the age of 25 represent one group of high-risk drivers. Fortunately, many California car insurance companies will discount their otherwise costly premiums for these drivers if they have good grades. Young people in college or high school should ask their insurance agent about these discounts, as good students often get the cheapest car insurance in California.

Ask About Multiple Policy Discounts
It is also fairly well known that California car insurance can be cheaper for those who insure both their homes and their cars, trucks, or motorcycles with the same company. If the auto insurance company also offers California homeowners insurance, it is wise to get the insurance agent to investigate whether any deals are available to those who buy car and house insurance from the same company.

Consider Insuring More than One Car
Finally, insuring more than one car on a California automobile insurance policy can also lead to greater savings on premiums overall. Students who are still living at home should consider getting on the same insurance plan as their parents, as that can save them money on their California car insurance. Those who are on their own can also save money if they put all the cars in their household on the same policy.

How Home Building Material Impacts your Policy Rate, in California

Did you know that the materials of which your home is made can affect the price you pay for your California homeowners insurance policy? This is one of the many variables that Insurance companies look at before determining how much they will charge to provide you with insurance coverage.

There are two reasons why an insurance company might care about the type of materials that were used to build your home. The first is a matter of safety and how well the house can endure various perils such as fire, wind and heavy rain. The second is the quality of the construction and how long the house might last before needing major maintenance and repairs.

Protection Against Perils

Frame houses made largely of wood are more susceptible to being destroyed by fire than homes made with concrete block or steel building materials. All other things being equal, it is possible that an insurance company will charge you more for a wood frame home than some other types of homes that are more fire-resistant. While fire damage is a major concern, insurance companies are also concerned with how well your home will do in an earthquake, severe wind storm or other acts of nature. They will look at the materials used to build the roof, erect the walls, cover the floors and even check the type of doors and windows in your house.

How Long Your House Might Last Before Needing Major Repairs and Renovations

Homes made with high quality materials and the best construction techniques tend to last longer and require fewer repairs and less maintenance than homes constructed with inferior building materials and shoddy workmanship. Insurance companies will adjust the premiums they charge for clearly superior or inferior built homes.

Am I Entitled for Renewal Discount if I choose to Continue with the Same Vendor (Insurer)?

Insurance companies often like to build a relationship with their customers. This loyalty is often built by offering existing customers a potential discount on their car insurance policy if they choose to renew their policy with the same insurance company.

What Is a Renewal Discount when it comes to Home or Auto Insurance Policies?

One of the most common reasons given for not choosing to continue with a particular insurance company after a policy period is the ability to save money. An insurance company wants to build a customer following of loyal customers, but if the customers are constantly switching, this eliminates the company’s ability to create a loyal customer base.

In an effort to encourage customer loyalty, the insurance company will offer what is known as a renewal discount. This is a specialized pricing quote that includes a certain discount just for being a loyal customer and renewing an existing insurance policy.

How Are Renewal Discounts Offered to Insurance Policy Holders?

Most insurance companies will often notify an insurance policy holder that they are eligible to receive a renewal discount on their upcoming insurance policy. This offer is typically conveyed to the insurance holder via mail, phone, or email.

Sometimes a renewal discount is not automatically applied to the upcoming insurance policy. If this were to happen, the insurance policy holder can call their insurance representative or agent and inquire about a potential renewal discount.

Are Insurance Companies Required to Give Renewal Quotes?

There is no particular law in the state of Texas that requires a vendor/insurer to provide a renewal discount. Many insurance companies offer this type of incentive in an effort to compete with their competition in the insurance market, but it is not something that every insurance policy holder is entitled to receive upon renewal.

Even if an insurance policy holder qualifies for a renewal discount, it is a good idea to receive several insurance quotes online. People are able to receive both new and renewal auto insurance quotes online. These available quotes allow individuals to find the best insurance policy that fits their needs with the ability to compare prices and policy terms.

Excluded Driver Endorsement in Texas

Some insurance companies offer policy holders the opportunity to add an excluded driver endorsement to their car insurance. This addition to the insurance policy is designed to specifically deny coverage for damages that may be caused due to an accident to the listed individual.

Why Do Insurance Companies Offer Excluded Driver Endorsements?

Insurance companies operate under the assumption that anyone living in a household who holds a driver’s license will have access to the particular vehicle that is insured. Even if the individual may not drive the vehicle, there is still the possibility that it could happen.

This slight possibility that other individuals may use or operate the vehicle will sometimes cause insurance companies to raise the rates on an insurance policy. Listing the individual as an excluded driver means the quoted rate may be lower because they are excluded coverage under that particular insurance policy.

In the state of Texas, insurance policy holders may have the option to specify which parts of an insurance policy the individual does not receive coverage. An insurance policy holder may be able to specify exclusion from liability, personal injury protection, uninsured motorist protection, or other specific areas of coverage.

How Are Excluded Driver Endorsements Made?

Insurance policy holders that wish to get an excluded driver endorsement for one or more individuals must do so in writing. Most insurance companies will have a form that needs to be filled out.

This form will require the insurance policy holder to list the named individual and specify which parts of the insurance policy will be excluded from that individual. The insurance policy holder will then have to sign and date the form. After this is completed, the insurance company will attach it to the insurance policy and keep it on file.

Individuals interested in purchasing an auto insurance policy that allows excluded driver endorsements should consider getting several quotes. These quotes can be made with or without the excluded driver listed. Receiving several online quotes for insurance coverage will allow drivers to compare different policies from various companies in the hopes of finding the best policy for their insurance needs.

Can insurance coverage be refused for a high risk driver?

Individuals who are classified by insurance companies as "high risk drivers" may find it difficult to get approved for insurance coverage. Insurance companies have the right to refuse coverage to any individual they deem as high risk, as long as that decision has been based on driving records or past actions, and not based on illegal or discriminatory factors.

What Is the Definition of a High Risk Driver?

A high risk driver is an individual that has been deemed by an insurance company to be at a greater risk of involvement in an accident. This higher risk for auto accidents means the individual driver may be a liability to the insurance company. Many insurance companies are uncomfortable with the idea of taking on such a high risk individual and therefore refuse to provide insurance coverage.

What Factors May Determine if a Driver is High Risk?

Each insurance company uses a different software program to analyze facts and information to determine if a driver is defined as high risk. This means a person who is classified as ‘high risk’ at one insurance company and denied coverage may be able to receive coverage from another insurance company because they use different software to base their decision on who is high risk.

Some of the factors that may be used include:

  • Previous accidents
  • Number of issued speeding tickets
  • Type of car that is driven

When Can Insurance Companies Deny Coverage to High Risk Drivers?

Insurance companies have a very limited time frame in which they are allowed to decline coverage to individuals who are considered high risk. An insurance company may decline coverage at the time of the request for an insurance quote.

If an insurance policy has been purchased, the insurance coverage may decline coverage due to an accident or speeding under Texas law within the first 60 days of the policy. However, the reason for the cancelation must be given in writing at least 10 days before the cancelation.

Anyone who believes they may be classified as a high risk driver and may be refused coverage should get several insurance quotes online. Generating several insurance quotes provides the opportunity to compare rates and even find a company that may provide coverage to a high risk driver.

Is it safe to shop for New York insurance online

Shopping for insurance online is quick and easy. Most people in New York are busy and they cannot be bothered with going to several insurance companies to compare rates. When you work with an independent agent online, he can compare the rates of many top providers and locate a policy that will meet all of your needs and fit into your budget.

If you are concerned about the safety of shopping for insurance online, you have nothing to worry about. Most people use online sources to shop for insurance and it is the best way to get a good deal. People do not have time to spend hours comparing quotes for insurance coverage, they would rather be out spending time with friends or shopping at the mall. When you find a good deal, you will have peace of mind knowing your belonging are protected.

New York is a great place to live and spend time in the great outdoors. If you want to find a better rate on auto or home insurance, consider using an independent agent to compare quotes online. You can easily check out the reputation of several companies and buy with confidence. Since online companies have less overhead costs, many can offer a much more affordable rate for the same amount of coverage. Go online and get your best insurance quotes today.

Protecting Your Car All Year without a Garage

Your insurance company will consider several factors when setting your car insurance rates: Your driving record, zip code and how many miles you drive each day are important factors but so is how you protect your car.

Simply put, your insurance carrier will charge you fewer dollars if you can somehow protect your car from thieves and hit-and-run accidents.

Your challenge, though, is a tough one: How can you do this if you don’t have a garage? And, how can you convince your insurance carrier that you really are protecting your auto even if you don’t store it in a safe garage every night?

The good news? Protection doesn’t just come from a garage.

First, there’s location. Your car will be safer from criminals and hit-and-run drivers if you park it every night on either a quiet side street or a driveway. This will keep you car out of the path of most other drivers. And, it will keep your auto out of the sights of many thieves.

If you want additional protection from auto burglaries, invest in a car alarm. Insurance companies love these alarms as just the indication that your car is protected will deter some thieves who’d rather pick an easier target.

From your insurance company’s point of view, the worst place for you to park your car is on a busy or well-traveled street in a neighborhood whose zip code registers as a high-crime one. Cars parked here have a far higher risk of getting sideswept from speeding drivers or becoming a target of auto thieves. And, if you really want to see your auto insurance rates rise, park in this manner and don’t purchase an alarm system. Then insurance companies will see your auto completely unprotected.

Parking in a garage in a safe neighborhood is your best option as far as insurance rates go. But, if you don’t have access to a garage, go for the next best options available. It’ll be your best bet for avoiding sky-high insurance rates.

How Roofing Material Relates to Insurance

If you’re looking into getting a good price on your home insurance policy, you may want to take note of what kind of roofing material is used on your house. Some materials are better when it comes to getting a low cost policy, and some are not as good of a choice. If there’s a significant difference in price, you may want to consider replacing your roof with something that your insurance company prefers. You would need to consider that carefully, because it might not be worth the cost. You would have to factor in the savings on your policy and compare that with the cost o the new roofing and how long you planned on living in your home.

If you plan to build a house, check with several insurance companies to find out what the cost of insuring your new home will be before getting started. At that time, you can also talk to the companies about anything that could give you a discount, such as a specific type of roofing material.

The reason that insurers are concerned about the roofing material that you have on your house has to do with how well your roof will hold up to damage like wind, hail and fire. That’s especially true if you live in an area of the country where there are frequent natural disasters, such as tornadoes or hurricanes. The structure of your roof is very important to your insurance company, and the company may require one of its inspectors to come out and take a look to verify the type of roof you have. That can help you get a discount if you have specific materials on your roof and if you have certain structural elements, such as hurricane clips if you live in a hurricane-prone area.

Recovering from an Accident with Insurance

You know the drill: After you’ve suffered a car accident, the odds are high that your insurance payments are going to jump. But, here’s what you may not know: This increase doesn’t have to be permanent. The steps you take following an accident can help you lower your insurance rate back down to a more reasonable level.

There’s one simple key to reducing the time it takes you to recover from an auto accident. You must make sure to drive safely.

That sounds like common sense. But, it’s actually crucial. If you get into another accident, or if you receive a speeding ticket or some other moving violation, your insurance rates will jump again. And, this time, the rates will skyrocket. The only way to prevent this from happening is to drive as safely and responsibly as possible. As your driving record remains spotless, you’ll notice that your insurance rate will start to fall. That’s by design as insurance companies reward drivers who avoid accidents and speeding tickets.

You can take other steps to recover from an accident, too. Try buying an alarm system for your car. Insurance companies will often lower their rates for drivers who protect their vehicles from thieves. Try driving fewer miles each week, too, perhaps taking the train or bus to your job. Again, insurance companies reserve lower auto rates for those drivers who use their car less frequently. The theory is that you’re less likely to get into a costly accident if you drive fewer miles.

Finally, consider investing in a secure parking garage. If you park your car outside on a street each night, your insurance company will again charge you higher rates.

An auto accident is a stressful event. But, by taking some simple steps, you can increase the odds that an accident won’t boost your insurance rates for too many quarters.

Reasons Why Your Insurance Company Matters

Choosing an insurance company is very important. Many people make the mistake of just choosing the first company that they find. That company may be more expensive than others or it may be very cheap, and there might be a reason for that lack of cost. Insurance companies that charge very little can also often give very little in return. You don’t want to be left with a serious financial problem because your insurer didn’t do what it promised. Because your insurer matters, you’ll want to make sure you shop around carefully and take your time to make the right choice.

Buy your policy from an insurance company that you’ve heard of and that has a good reputation. If you don’t, you may end up regretting your choice when you need to make a claim. Any licensed insurer will be acceptable in order to show that you have coverage, but you shouldn’t expect to never need the insurance that you purchased. Eventually, you’ll have to make a claim against your insurance company. When you do that, you want to feel confident that your claim is going to be answered promptly and that you’re going to have a good resolution.

If you’re not sure which company you want to choose for your insurance, it’s a good idea to get quotes from several different places. Insurers can really vary, so don’t assume that they will all be the same price or that they will all offer you the same coverage. When you get quotes from companies, you should take a careful look at them to make certain you’re comparing similar options. If the coverage you can get from one company is very different from another, you can’t really make an accurate determination about the differences in cost. Choose the most comprehensive coverage for the lowest price in order to get the best deal. Contacting a broker or independent agent that offers a wide range of insurers is the best way to get the knowledge and advice to make a good insurance decision.