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Paying Too Much For Your Insurance?
Mike McCartin
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Discounts And Rating Variables You Should Know About:
Personal/Family Auto
- Multiple Cars
- Passive Restraints (Air Bag(S), Automatic Seat Belts)
- Alarm (Passive/Active, Disabling/Non-Disabling) (Key, Club, Etc.)
- Anti-Lock Brakes (2 Or 4 Wheel Abs)
- Good Grades \ Away At School \ Driver's Ed (Mandatory In Md)
- Age (Under 16 To 24/25, Or Over 55)
- Accident Free (Safe Driver Discount, Good Driver Discount, Etc)
- Multi Policy (Auto, Home, Umbrella, Etc.)
- Do You Carpool?
- Usage Classification (To/From Work, Business, Pleasure)
- Annual Mileage
- Territory (Where You Live)
- What Kind Of Car Do You Drive?(Corvette Or Chevette)
- Tickets/Accidents - 3 Years In Md (Mean Everything To Good Rates)
Homeowners
- Sprinkler System
- Smoke Alarms
- Burglar Alarms (Central Station Monitored Or Just A Local Gong)
- Claims History, Claims Free Discount
- Multi Policy
- New Home
- Non-Smokers
Assume Some Of The Risk (Only What You Can Afford):
- Increase Deductibles
- Eliminate Physical Damage Coverage On Older Cars (10 Years)
- Eliminate Or Reduce Duplicate Coverage (Pip- Med Pay & Lost Wages)
- Eliminate Coverage For Expenses You Can Afford To Pay Out OfPocket: Towing \ Rental
Shop Around (But Ask Questions):
- How Good Are The Coverages (Liability Limits, Deductibles, Etc.)
- Once With The Company, What Type Of Surcharges Can They Apply AndWhen
- Cancellation Provisions (What Are They)
- Make Sure You Provide All The Correct Information.
- How Good Is The Claims Service
- How Good Is The Company, Itself (Insurance Commissioner, BetterBusiness Bureau, Friends And Neighbors, Etc).
- Feel Good About Your Agent, A Good One Can Really Do A Lot For You
Incentives:
When You Avoid Tickets/Accidents, You Keep Your Preferred Rate
- First Accident Forgiveness (Erie Pioneered This)
- Loss Free Credits (Premium Savers)
- Feature 15 (Erie Exclusive)
- Non Cancellation Provisions
Apply Your Savings To Other Valuable Coverages:
- Catastrophe Liability Policy (Umbrella Policy)
- Ordinance And Law Coverage
- Auto Lease Loan Coverage
- Jewelry (How Much Protection Does Your Policy Provide?)
- Sewer And Drain Coverage
Does Your Policy Provide:
- All Risk (Comprehensive) Protection (Both Dwelling And Personal Property?) (Home)
- Guaranteed Replacement Cost Protection (Home)
- Sufficient Liability Limits (Home & Auto)
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