You might be surprised to learn about your car insurance coverage. They are simply experts who are crushing numbers every day. It is common for auto insurance companies to withhold beneficial information from their clients. Car insurance agents are particularly persistent at questioning policyholders. They sure know some things they don’t want you to know.
It is not about luck but about information
Insurance agents know all about speeding tickets, your vehicle credit history, vehicle registration, and any other information included in your claims history. They even know about undisclosed drivers living with you and whether you own property. These avid agents know if the reports were accurately used when calculating your insurance score.
They know when a speeding ticket can make the rates go up
While every traffic ticket is different, insurance agents know when these tickets will affect your rates. They know about the specific offenses that triggered insurance points. When these points are added up, your rates can go up. Yet you may not be able to understand these complex issues on your own without having an agent to decipher it for you.
Your driving record
Insurance companies know about your last traffic ticket and how it landed on your record. They will pull your driving records and see the specific dates for every violation. When these traffic violations are not removed, you should ask your insurance company to stop surcharging you on that particular offense. However, they know it may not be possible to do that until the next renewal term.
After an accident claim
If you rear-ended someone, you are probably wondering how long this offense will stay on your record. Agents know about the specific claims that make rates go up. It’s difficult to understand the complex formula insurance agents use to determine a surcharge. The type of injury or damages is also important when calculating the rates. For example, bodily injury claims usually hike rates, even more than cases involving property damage.
When your vehicle is a total loss
Your car may be deemed a total loss by your insurance company, even if the damage was not that significant. Every car insurance company uses different criteria to determine whether the vehicles involved in the accident are a total loss.
Agents know when you are at risk of non-renewal
Even minor car accidents can have an impact on your records and you may not be able to renew your policy. But agents won’t tell you that and you may receive a non-renewal notice. These guidelines are different in every state. Too many violations, DUI charges, license suspension, and so on, may cause your insurance to cancel your policy.
Insurance companies are not on your side
It is important you understand that insurance companies are not as awesome as they promise to be. They will keep an eye on you to make sure you are covered with the minimum. They know which claims will be rejected and how to lower your premiums but they won’t tell you.