What Your Agent Needs to Know About You to Get You Best Rates

If you have purchased an auto insurance policy, you have probably wondered why the insurance company needed to know so much personal information about you. After all, they are insuring the car, not you, right? The fact is, all that personal information lets your insurance agent assess your specific risk value, and that means that you could be saving money on your insurance policy according to the information he or she asks for.

Where you live makes a big difference in your premiums. If you live in an area with a low crime rate, you pay lower premiums. If you have a private garage to park your car in, it saves you money on insurance. If you live close to your job it means that you drive fewer miles during rush hour, and that, again, is a savings on your insurance premiums.

Your education may not seem to matter, but the truth is that insurance companies give discounts to students who maintain high grades, and those discounts continue after college graduation if you have a Bachelor’s degree or higher. And once you enter the job market, you will receive discounts for working in many different fields, including working for the government, being in the military, or occupations that are based on scientific research. Architects and lawyers are eligible for discounts, along with people work for the fire or police department, and anyone working in medical or emergency service fields.

If you are single, your rates will be higher than if you are married, and whether or not you own your home is a major factor in determining your financial stability, along with your credit score. The insurance company is not asking you all of those questions just to be inquisitive; they are trying to save you money by finding all of the discounts you are eligible for.

The same thing is true for online insurance quotes. The more discounts you qualify for, the lower those quotes will be, and the better deal you will get when you compare premiums between multiple insurance companies. The insurance company needs all that information to assess your level of risk, and you need to provide it in order to save as much as you can on insurance.

Posted in Car Insurance.