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Car Insurance Rate — How Your Zip Code Affects It
Posted by Chimezirim Odimba in Auto Insurance
What has my home got to do with my car insurance premium? A lot! How is that so? Does it suggest that I can really get expensive or lower premiums simply by changing my location? Yes, you can.
Despite the fact this may not be apparent to a lot of folks, you can really make considerable savings if you appreciate the impact of your home on your auto insurance rate and how it affects it.
You understand quite well that insurance companies want to know your home address and maybe your place of work depending on your circumstance. They do so for various reasons.
Among other reasons is the fact that they have to check the level of risk associated with your location.
Let us assume that you reside in an area that has much more traffic or regular high traffic (Or an area that has high vehicle theft statistics). If that describes your area then and you have to drive through to work daily then you should expect to pay a little more than people who live in places that never have much traffic.
Here lies the problem…
In mapping out places, there has to be a boundary between areas based on police records.
By an insurance company’s grouping, your street may fall into a high risk area. What is so funny about this is that the closest property to yours may belong to an entirely different risk zone — A less risk zone.
This information is definitely most helpful if you’re about to move into a new apartment or about to buy a house. That apartment could make you pay a few thousand dollars more in your car insurance over the years.
But what if you’re already in such a high risk area albeit unintentionally, is there a way to squeeze out considerable savings? Luckily, there is a way for anyone to get huge savings in auto insurance:
Check a minimum of 3 sites that give free non-obligatory car insurance quotes. I suggest 5 so you don’t miss great quotes from insurers not covered by one or two of the other sites. Compare the quotes returned and you will be surprised at what you’ll save — A few hundred dollars or probably even a thousand
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