Finding Better Insurance PlansFinding Better Insurance Plans

About Me

Finding Better Insurance Plans

After I switched jobs, I knew I would probably be faced with choosing a new insurance policy. I was nervous about the transition, but I knew it had to be better than the plan I had been using at my old job. I started going through the options with the human resources person, and it took me a long time to understand the different options. After a thorough evaluation, I opted for a health savings account, which let me keep a large percentage of what I would normally be paying in premiums every single month. Check out this blog for more information about health insurance plans.


Need Auto Insurance? 2 Things That Can Cause You To Only Be Approved For High Risk Insurance

If an automobile insurance company says that you are a high-risk driver, your auto insurance premiums will be much higher. To help you, below are two things that can cause you to be only approved for high-risk insurance, so you can take steps to get the insurance premiums down.

Bad Driving Record

If you have had multiple tickets or wrecks over the past few years, you are deemed a high risk. This is especially true if you are a young driver, such as below 25. To help with this, be careful when you drive, and always go the speed limit. Do everything you can to prevent wrecks. For example, do not follow someone too closely. If you do, you could easily run into the back of them if they stop very quickly. In most cases, hitting someone from behind is automatically your fault.

You can also take a defensive driving class to help lower your premiums. Talk with your insurance company about this. If they will do this, they can tell you of some classes in your area that you can take.

Bad Credit

Some insurance companies will deem you high-risk if you have bad credit. This is because there is a higher chance that you will not pay your insurance premiums. To help with this, first determine what your credit score is. Credit scores range from about 600 to over 850. The higher your credit score is the better the credit. If you are closer to 600, then there are steps you can take to help increase your score.

First, pay off all balances owed on credit cards or loans. If you are past due on anything, contact the creditor to take steps to get back on track. Do not apply for new credit cards. When you do this, the credit card companies check your credit score, and each time your credit score is checked, your credit score may decrease. Always keep balances on loans and credit cards low.

It will take time to improve your credit score, but it is well worth the effort. A good credit score will not only help you get better insurance rates, but also help get you approved for a mortgage much easier, help you get approved for a car loan, and much more.

Talk to your car insurance company representative about other ways you can lower your high-risk insurance premiums and save more.