Official Insurance Premium Discussion Thread

themann1984 · 11-05-2009, 05:15 PM

I pay about $400 for 6 months. That's with 500/500 BI, 300,000 PD, full PIP (I live in a no-fault state), $1,000 collision deductible, and a $500 comprehensive deductible.

I'm 25, single, clean record, no accidents, one car, one operator, no multiple policies, and perfect credit.

I used to be an actuary for one of the major personal lines insurance companies. Your credit rating is one of the most predictive variables and can make a big difference in your rate. Age, gender, marital status, accident/violation history, and territory, are also pretty significant. However, accident/violation history is usually only run at new business, not on renewals. It is too expensive to run it every renewal. Also, if you have multiple cars, drivers, and another home, condo, or renters policy can also reduce your rate. It is also a good idea to purchase the insurance at least 7 days before you need the coverage. That can get you a discount, too.

The good hands company has an underpriced new car discount that diminishes year after year. It starts at about a 20% discount.... ;-)

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11-05-2009, 05:15 PM	#11 (permalink)
themann1984 Base Member Join Date: Apr 2009 Location: Overland Park, KS Posts: 100 Drives: 09 370Z Yellow M6 Rep Power: 18	I pay about $400 for 6 months. That's with 500/500 BI, 300,000 PD, full PIP (I live in a no-fault state), $1,000 collision deductible, and a $500 comprehensive deductible. I'm 25, single, clean record, no accidents, one car, one operator, no multiple policies, and perfect credit. I used to be an actuary for one of the major personal lines insurance companies. Your credit rating is one of the most predictive variables and can make a big difference in your rate. Age, gender, marital status, accident/violation history, and territory, are also pretty significant. However, accident/violation history is usually only run at new business, not on renewals. It is too expensive to run it every renewal. Also, if you have multiple cars, drivers, and another home, condo, or renters policy can also reduce your rate. It is also a good idea to purchase the insurance at least 7 days before you need the coverage. That can get you a discount, too. The good hands company has an underpriced new car discount that diminishes year after year. It starts at about a 20% discount.... ;-)