TUESDAY, NOVEMBER 5, 2013
The Five Most Common Questions I Hear About Personal Auto Insurance:
Why do they check my credit for an auto insurance quote?
As annoying and intrusive as this may feel, at least it doesn't negatively affect your credit report. But, it is necessary from the rating standpoint as statistics show clients with poor credit are more likely to submit a claim than those with higher credit scores. Since all insurance rates are legally and rightfully based on statistical evidence, your credit score will affect your rate more than your driving or claims history. Bottomline? Keep your history clean in all areas and you will qualify for the best rate.
Can I get a discount for having both my auto and home with same insurance company?
Yes.. and .. No. In Florida, there are no insurance companies, at this posting, that is writing both auto and homeowners. We do not have a good climate conducive to this benefit. HOWEVER, all auto insurance companies, will apply a homeowner discount if you provide evidence of same. Of course, most other States do have this option.
What is "tag-insurance"?
The State of Florida requires that you provide evidence of Property Damage Liability (PD) and Personal Injury Protection (PIP) Insurance at the limit of $10,000 each in order to obtain an auto tag for your vehicle. This coverage is the absolute most minimum coverage required and is NOT recommended by this agency due to the wide open gaps in coverage.
Why must I list everyone in my household?!
Due to the very broad PIP coverage definitions (designed by the Florida Legislation.. NOT insurance companies) and the unbelievable amount of fraudulent claims, Insurance Companies have been an enormous amount of claims that, if not monitored, will eventually put them out of business. Since PIP will provide coverage for Resident Relatives which has been extended to just Residents, we must list and rate everyone over the age of 15 with or without a license. Many companies do not charge for unlicensed residents but they must be listed anyway as we may need to pay a PIP claim for them. If someone resides with you that you do not want to drive your vehicle NOR payment premium on their driving record, you may exclude them from the policy. BUT JUST REMEMBER, if they drive your care, they will be driving around with NO insurance!
Why am I being charged with an accident that is NOT on my Driving Record?
If you file a claim with any insurance company, it is then reported to Experian to be added to your CLUE Report. CLUE is an acronym meaning Comprehensive Loss Underwriting Exchange which is a report that keeps record of your claims. If your insurance company reports your innocent claim as an Accident At Fault, your new insurance company will charge you for it. The only way to remove it? Contact the company that put it on your report incorrectly and have them remove or repair your report.
I hope this has information has answered some of your questions. If not, send them to my thru my email 3845535@gmail.com or just leave a comment on this blog. I will respond accordingly as possible.
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