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Sunday, May 13, 2007
How to Find Affordable Car Insurance in Connecticut
Finding affordable car insurance in the state of Connecticut is not a difficult as you may think. The insurance companies do not use a magic formula in rating your policy. The primary information they use is the information you provide about yourself and your vehicle. Your habits and vehicle information will help you to find an affordable rate.
Let’s give you an idea of some of the underwriting information insurance companies use to formulate your car insurance rate:
1. Past driving history: This makes sense. If you have a clean driving record for at least the past 3 years is looked upon favorably and may earn premium discounts.
2. Credit Scores: Most states use your credit history as one of the underwriting basis for your auto policy. In Connecticut, however, according to a proposed bill no 56 introduced by Senator Crisco of the 17th District, insurance companies must inform their policy holders if they use their credit history as part of the rating criteria for automobile and homeowners insurance (this bill was introduced in January Session, 2007). Whether or not your company uses your credit information, maintaining good credit will work to your benefit.
3. Good Grades: If you have a teenager on your policy, good grades will earn a premium discount. Most companies will award a discount to those students who maintain a B or better average. They have found that better students are better driving risks.
4. Age 62+: If you are over the age of 62, take an accident prevention course. Check with your insurer to find out which courses qualify and which schools are on the approved list. Before you actually take the course, find out how much of a discount it will earn.
Let’s give you an idea of some of the underwriting information insurance companies use to formulate your car insurance rate:
1. Past driving history: This makes sense. If you have a clean driving record for at least the past 3 years is looked upon favorably and may earn premium discounts.
2. Credit Scores: Most states use your credit history as one of the underwriting basis for your auto policy. In Connecticut, however, according to a proposed bill no 56 introduced by Senator Crisco of the 17th District, insurance companies must inform their policy holders if they use their credit history as part of the rating criteria for automobile and homeowners insurance (this bill was introduced in January Session, 2007). Whether or not your company uses your credit information, maintaining good credit will work to your benefit.
3. Good Grades: If you have a teenager on your policy, good grades will earn a premium discount. Most companies will award a discount to those students who maintain a B or better average. They have found that better students are better driving risks.
4. Age 62+: If you are over the age of 62, take an accident prevention course. Check with your insurer to find out which courses qualify and which schools are on the approved list. Before you actually take the course, find out how much of a discount it will earn.
# posted by gopi @ 9:27 PM 
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