Watch Out For These Insurance Gotchas
For those who have a car and are in Pennsylvania, this is going to be an extremely interesting article for you.Here’s why: right now you’ll find 809 licensed PA auto insurance agencies (according to the Pennsylvania Insurance Department). You will need to use one of these agencies to fulfill the PennsylvaniaMandatory Auto Insurance Law of 15/30/5 limits*. But you want to know something interesting?The probabilities are that you’re egregiously overpaying for insurance… by no-fault of your own!The truth is, the insurance agencies have a vested interest in keeping certain facts from the generalpublic. They are for-profit businesses, after all.
But by knowing and ultizing those facts there are a couple of simple “hacks” you should utilize to reduce your PAcar insurance rates. The next few paragraphs expose some those hacks. Read on:
Do these things. Watch insurance rates tumble.
Be skeptical of “The Secret Score”
Here’s something you do not know: currently, insurance agencies are very interested in yourpayment history and credit score. Invasion of privacy? Maybe. Strongly related to your rates? Yep.If your credit score is on the lower side, I suggest doing research on the dozens of “sneaky” ways toprop it up. Most methods are free to do, won’t take more than a fortnight and may just ensure you get a lowerinsurance rate.
Bundling Discount
As the name suggests, bundling is simply purchasing several different insurance products from a singlevendor. In return for your loyalty, the insurance agency will give you a discounted rate on all of theproducts.As an illustration, you get both your PA car insurance and your life insurance from the same company…thus lowering your rates on both. This is common practice, and applies to most insurance typesincluding health, property, homeowners and rental insurance.
Safety and/or Anti-Theft Discounts
Having anti-theft tools like LoJack, The Club, or a car alarm deters thieves. Additionally they warm the cocklesof the insurance agency’s heart, incentivizing them to drop your rates faster than a bad habit. Likewise,safety related things like airbags, motorized seatbelts, anti-lock brakes and fuel shutoff devices will earnyou lower rates, if not impassioned love letters.
Stop Crashing
Common-sense, yes? That’s why this “hack” gets last mention, but unfortunately it still needs to bementioned. You get rewarded for keeping your car or truck in once piece. While accidents shoot your premiumsthrough the stratosphere, time elapsed sans fender-benders makes your rates go the other direction.
What they don’t tell you…
Is that the majority of the above discounts only apply to comprehensive coverage. Every discount helps, butremember this when sitting at the agent’s desk waiting for your quote.And one more thing, before I close out here. I’ve steered away from covering common knowledgetips. You know, things like “compare three (or more) insurance quotes” or “newer cars cost more toinsure.”
But as I get older I realize how uncommon “common knowledge” can be, so I include those tidbits nowas a parting gift. Good luck in your hunt for auto insurance in pa, and remember to live life in the fastlane… but BELOW the speed limit!
* 15/30/5 stands for liability coverage of $15K for injury/death of one person, $30K for multiple people,and $5K for damaged property.
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