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Wednesday, June 20, 2007
Auto Insurance Rates - Reasons For The Huge Disparity And Benefits To You
There's a huge disparity in auto insurance rates. There must be a reason for this. Yes, we'll talk about it but much more, we'll talk about the advantage to you as a person.
Insurance companies decide on how risky a prospect is by using certain parameters. They use factors like marital status, age, location, driving history, credit rating, car safety, cost of replacement and things like that. However, they do not all agree on the exact weighting each should get relative to the other. That's where the disparity begins.
If you call twenty different insurance experts and ask them to line up and score all these factors, you'll end up with twenty different scores. Now the difference between two experts' scoring may not be much, but if you check the highest score and the lowest, you'll begin to see a huge difference.
Now, this is a very empirical explanation of a much more complex process. However, it surely does give a faint idea of what really goes on. So what's in it for you?
If you go straight with just the first auto insurance rate you get, you might pick the lowest (If you're extremely lucky). However, the other extreme is also a possibility (Picking the highest rate). The funny thing about this is that you could be paying twice as much for a similar, comparable or even inferior auto insurance coverage.
Therefore, you'll be doing yourself a world of good if you took out some time to visit specialized sites that provide auto insurance rates from A rated companies. Each usually returns up to five quotes per query. However, if you want to ensure you really get the lowest auto insurance quotes, visit at least three reputable insurance quotes sites. This ensures that you don't miss quotes from companies not covered by one quotes sites.
If you do this very well, you'll save a few hundred dollars in your auto insurance premium. A guy made savings of $2,200 by doing this (The figure was not a typo!). Do yourself a favor, get your auto insurance rates now.
Insurance companies decide on how risky a prospect is by using certain parameters. They use factors like marital status, age, location, driving history, credit rating, car safety, cost of replacement and things like that. However, they do not all agree on the exact weighting each should get relative to the other. That's where the disparity begins.
If you call twenty different insurance experts and ask them to line up and score all these factors, you'll end up with twenty different scores. Now the difference between two experts' scoring may not be much, but if you check the highest score and the lowest, you'll begin to see a huge difference.
Now, this is a very empirical explanation of a much more complex process. However, it surely does give a faint idea of what really goes on. So what's in it for you?
If you go straight with just the first auto insurance rate you get, you might pick the lowest (If you're extremely lucky). However, the other extreme is also a possibility (Picking the highest rate). The funny thing about this is that you could be paying twice as much for a similar, comparable or even inferior auto insurance coverage.
Therefore, you'll be doing yourself a world of good if you took out some time to visit specialized sites that provide auto insurance rates from A rated companies. Each usually returns up to five quotes per query. However, if you want to ensure you really get the lowest auto insurance quotes, visit at least three reputable insurance quotes sites. This ensures that you don't miss quotes from companies not covered by one quotes sites.
If you do this very well, you'll save a few hundred dollars in your auto insurance premium. A guy made savings of $2,200 by doing this (The figure was not a typo!). Do yourself a favor, get your auto insurance rates now.
# posted by gopi @ 8:56 PM 
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