Getting the Lowest Rates
Auto Insurance is often one of the largest expenses for a household. Factor in teen drivers, driving history, and garaging zip code, you can see why consumers look for the most competitive rates. While there are many factors outside of a driver’s control, there are several things you can do to make certain you get the lowest auto rates available.
Factors You Control
Any idea what is one of the biggest factors in determining auto rates? Yes…..you guessed right. YOU!
Insurance carriers pull your Motor Vehicle Report more commonly known as MVR. A MVR shows your driving history including information about your driver’s license such as past and current driver’s license status including suspensions, revocations, cancellations and driver’s license class. It includes driver’s license endorsement, and any restrictions on your license. It will show the following:
- Traffic Citations
- Vehicular Crimes
- Accident Reports
- Driving Record Points
- DUI Convictions
A clean MVR works in your favor in qualifying for the most competitive auto rates. Most insurers add a surcharge for any moving violations IE. Speeding, Improper Lane Change, Following Too Close, Signal/Sign Violations,
and At-Fault Accidents.
An At-Fault Accident holds you responsible for the accident. No matter the amount of damage, any At-Fault Accident adds a surcharge to your policy significantly increasing your rates. Typically, surcharges remain on your driving record for three years. If a police report is filed, you could be charged for both the accident and the moving violation that caused the accident.
Credit Rating also plays a role in the rates for auto insurance. Believe it or not, credit rating is an indicator for driving behavior. Insurance companies are no different from an employer who checks your credit rating during the hiring process. Just like there is a correlation between credit rating and coming to work on time, there is also a correlation between your credit rating and filing a claim. Bottom Line: Pay your bills on time if you want to the best auto insurance rates!
Best Practices When Driving
- Drive within the speed limit. Speeding tickets can easily drive up your rates.
- Maintain a safe distance between you and the vehicles in front of you. Being distracted for a moment can cause you to rear-end the vehicle in front of you. If you are on the freeway or highway when you rear-end someone, you could possibly be surcharged for the ticket along with being surcharged for the accident.
- Use Rideshare providers if you plan to drink alcohol. A DUI is a costly violation and may result in your driving privileges being suspended.
- Distracted driving from phone and texting draws your attention away from the road. Be aware of the traffic on the roadway and drive like the drivers around you don’t know how.
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Shari Glover is licensed insurance agent in Kennesaw, GA . Shari is passionate about helping families and businesses protect what matters the most to them. Through her agency, she is able to help families and individuals with Home, Auto, Life and Business Insurance.