You may be the world’s safest driver, yet your car insurance premium rates are higher due to factors you can’t control. Is this fair? No, but it’s reality that most insurance companies use various parameters to set their rates for auto insurance.
Understanding each factor that determines coverage rates in Connecticut and elsewhere can give you a leg up when it comes to finding the best policy.
Marital status, age and gender
Rates reflect the fact that older drivers typically are involved in fewer accidents. Women also have fewer accidents, and their rates reflect it. Statistics show that single people are more likely than married individuals to be in a wreck, so singletons pay more.
Location and driving consistency
The area where you live determines in part your car insurance premium rates. Higher rates of property crimes can increase your rates. Of course, your rates also will be higher if you routinely drive long distances.
Studies show credit scores to be useful in determining the chances of insurance claims. Payment history, bankruptcies and debt levels all play a part in insurance rate calculations.
Speeding tickets, DUIs and accidents all raise your coverage rates. Locals of Norwich, and drivers throughout the entire state of Connecticut, should note that all information related to a DUI stays on your record for a decade, and your insurance company may check your record at any time. Experts note that your rates likely will increase by 20 to 60 percent after a DUI, or your policy may be canceled.
Type of car
The value of your car and its safety record also helps determine your rates. Knowing the deciding factors that go into setting car insurance premium rates, and working to control what you can, will save you money in the long run. Whether that’s driving a less-expensive vehicle, reducing your speed or moving to a lower-crime area, the savings add up.
Are you unsure as to how your driving record or any of these factors will impact your insurance premium? Let Waitte’s Insurance Agency calculate an insurance rate that is best suited for you. For a free rate quote, Click Here!
It has been a brutal winter in the Eastern part of the United States with New England states receiving the brunt of the snow and nasty weather. In one day, Worcester Massachusetts had 31.9 inches of snow on January 27th, which came on top of several other feet of snow this winter. Thompson, Connecticut had over 30 inches on that day too. Communities and states went from worrying about trying to dig out from the snow to trying to figure out where they were going to put it all when they did remove it.
Although most New Englander’s may not think so right now, there is another problem around the corner that could be as bad as snow: eventually the snow will melt and municipalities and their citizens will have to face the problem of flooding. People who live near rivers and along the coast face dangers of melting snow and ice creating run-off conditions that can cause as much or more damage to homes than the excessive snow from this winter.
In preparation for impending urban flooding due to the snow, there are things that homeowners can do to in advance:
*Check for flood insurance policies to ensure you have appropriate coverage in case flooding does occur and you’ll be covered for property damage.
*Move snow away from your home’s foundation to keep water from running into the basement when the snow does begin to melt at a fast rate.
*Clear drains and downspouts so water can go where intended and not create a backup of melted water.
*Remove area rugs and store them so that they won’t get wet and mold won’t grow on them.
*Make certain that sump pumps are working appropriately.
*Know where the electricity shutoff is so that if your home does flood, you can make your home safer.
*Have an emergency preparedness kit ready.
While you’re checking your insurance policies to ensure you’re covered for flooding, double check to be certain you have appropriate coverage for storms too. It may not seem like it when we’re still digging out from the yet another blizzard, but flood and storm season really are right around the corner.
Waitte’s Insurance doesn’t want you to get blindsided by the potential disastrous costs of property damage due to melting snow. Insure your property from mother nature by reviewing your current policy, or call our office at (860) 886-1961 to see which flood insurance policy could save you money and aggravation come Springtime.