Tips To Avoid Car Insurance Premium Increases Becoming Assigned Risk
Below is a MRR and PLR article in category Vehicles -> subcategory Other.
Tips to Avoid Car Insurance Premium Increases and Assigned Risk
Summary
Learn how to reduce your auto insurance costs and prevent substantial premium increases. Discover the importance of claim reports like C.L.U.E., and understand how credit scores, glass claims, and coverage types affect your premiums.
Key Tips to Manage Insurance Costs
Understand Claim Reports
Just like credit reports, claim reports such as C.L.U.E. (Comprehensive Loss Underwriting Exchange) are vital. They provide insurance companies with a history of your claims, influencing underwriting and rates.
Action: Obtain your C.L.U.E. report from ChoiceTrust.com to check for errors that might impact your premiums.
Monitor Your Credit Score
Insurance companies often use credit scores to predict potential claims. A poor credit score could result in higher premiums.
Action: Make timely payments on all your bills, especially your insurance, to maintain a good credit score.
Evaluate Glass Coverage
While many recommend "full" glass coverage, be cautious. Some insurers may use glass claims to increase premiums or even cancel policies, moving you to an assigned risk pool with higher costs.
Action: Check with your insurer’s underwriting department about their policy on glass claims. It might be wiser to pay for minor glass repairs yourself instead of filing a claim.
Special Tip for Leased Vehicles
If your lease requires an OEM windshield, and you use insurance for replacement, ensure the insurer provides an OEM part to avoid fees when returning the car.
Consider Car Rental & Towing Coverage
This coverage might be useful, but using it for non-accident-related issues can impact your premiums.
Action: Verify with your insurer if claims for rental or towing impact premiums. For extra peace of mind, consider roadside assistance services like AAA instead.
By understanding these factors and taking proactive steps, you can manage your auto insurance costs effectively.
You can find the original non-AI version of this article here: Tips To Avoid Car Insurance Premium Increases Becoming Assigned Risk.
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