22 Nov How do car insurance companies rate you?
So we have this discussion with our clients a lot. They wonder, why is my insurance this price? Well, there is an endless list of reasons and factors behind insurance company ratings. Many companies have extensive lists of rating factors, and some of them might not be what you would think they would use. Nasdaq.com has an excellent article that outlines some of those factors. The article was produced by Value Penguin and is quite helpful.
The article outlines things such as why males pay more versus females, and how companies are now examining the route you take to work. Some companies are even assessing the type of work you do. They do this not because you might use your car in that industry, but simply assigning various level of risks based on the nature of your work. Perhaps this sounds unfair. Some companies are measuring the actual way in which you drive, such as whether you are braking too hard or drive your car at odd times of the day; such as late at night.
Basically, the solution is to talk with your agent and let them shop around for you, assessing the way various companies will treat your driving and credit histories, and all of the other relevant factors to ensure you get the best possible rate. Read it here.
As always, you can get a quote with us: Get a quote.
Also, we were discussing this in depth this morning, what is up with those cool silencers in Kansas. So, check out the article above, and you can also check out the silencers we talked about at our “insurance agent training” meeting. These blogs might give you helpful insight into not only how insurance rates work, but what the inner workings of an insurance agency in Oklahoma are like around the holidays. This came up as we were discussing gift ideas. Silencers in Kansas
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