Smart Auto Insurance Blog

According to the article “Auto Insurance: High Auto Insurance Rates? Your Job Might Be To Blame” by Joel Peterson found on officialwire.com, current occupation and education level often factor into determining your auto insurance rates. 

Some auto insurance companies claim that the type of occupation you have can determine how careful of a driver you are.  Engineers, scientists, teachers and pilots tend to get lower quotes because they have proven to get in less accidents.  Other aspects of a particular field may factor into your auto insurance rates as well. 

According to a 2004 study by the Quality Planning Corporation found that drivers with preferred, higher income occupations often get in just as many accidents if not more than other occupations.  Surprisingly this group have lower auto insurance rates.  This is because this group is less likely to file claims which is ultimately what costs auto insurance companies money.

According to the September 8th press release on onlineprnews.com, submitted by insurance-auto-insurance-health-insurance.com, uninsured drivers are on the rise.  In 2007 about 23% of motorists were driving uninsured but now that statistic is closer to 1/2 of all drivers who do not have auto insurance. 

As unemployment rates increase so does the number of uninsured drivers.  But all drivers are at risk on the road when so many do not carry insurance.  A simple auto insurance policy can offer many benefits including property damage, personal injury protection, and many auto insurance companies also offer a term life insurance policy. 

The average payout for a term life insurance policy offered from auto insurance companies is between $10,000 - $25,000.  It’s usually paid in one lump sum to the next of kin.  There is also uninsured motorist insurance which is crucial, now more than ever, since so many other drivers are uninsured.  This type of protection covers you in case you are in an accident with someone who does not have auto insurance.  There are many benefits from auto insurance policies.  It’s just one more reason to ensure you are properly covered.

That Motown classic was right: you better shop around, especially for Delaware auto insurance. KYW-TV’s eye-opening study shows how there can be wild swings in premiums between companies. Everything else can be exactly the same! Some examples:

A couple and teenage son in Wilmington, with one accident on their record can pay…

• $4,528 per year with Progressive Insurance
• or $2,776 per year with a Liberty Mutual quote

They would save hundreds of dollars per year by switching their insurer! What about basic coverage for a couple in Landsdale, Delaware? They could pay…

• $2,643 per year with Nationwide Insurance
• or just $1,054 per year with a Travelers Insurance quote.

As you can see, the savings could be substantial; especially important during these tough times. Unfortunately, research has found that most consumers don’t compare auto insurance before they buy a policy, and don’t often switch policies.

In an effort to fight global warming, the Washington State legislature is considering a bill that would allow auto insurers to use electronic monitoring devices to charge different rates based on a person’s actual driving habits, reports the Seattle Times‘ Chantal Anderson. Individuals who have reduced their car usage (by using bikes or public transportation to commute to work, for example) could save up to 15% on their Washington auto insurance premiums.

Auto insurance companies that are offering or planning to offer pay-as-you-drive programs in other states include Progressive Insurance (through its Progressive MyRate program), Allstate auto insurance, Hartford insurance, and Unigard. Progressive wants to keep its proprietary rating information confidential, and the senate bill will be rewritten to reflect those concerns.

Chantal reports that the bill looks likely to pass the state Senate, but could face opposition in the House. Privacy advocates are worried about the “Big Brother” potential of the tracking devices, although the data allowed to be collected and the ways in which it can be used must be approved by the insurance commissioner.