Valley News -

By Tena Caracciolo
Special to Valley News 

These events might affect car insurance premiums

 

Last updated 9/27/2018 at 6:59pm



Life can be unpredictable, and various events may cause someone’s car insurance rates to fluctuate. If drivers will be making a change in the future, they should be aware of which common milestones could affect their premiums. 

First, a move to a new area. In some states, a driver’s ZIP code is the primary basis of their car insurance rate. Details like population size, crime rates and even weather can affect costs.

Accepting a new job can affect the cost of someone’s policy. Changing a daily commute may also change their premium based on annual mileage and other risk factors. 

Next, new homeowners will likely see changes. Adding and bundling the new policy could lead to a homeowner or multi-policy discount. 

Also, getting married could affect the premium. Marital status often influences a person’s coverage, especially if any policyholders, including children, will be added or removed in the process. 

Buying a new car might seem like an obvious instance, but it’s a good idea to do some research before purchasing a vehicle so as to not be surprised by the new premium. 

Can drivers reverse a rate increase?

It may not be possible to reverse a rate increase, especially if it was due to an expansion of coverage; however, sharing updates about automatic security features in the car and doing a record review of other drivers on the policy may prevent outdated information from further raising the monthly rate. 

Keeping car insurance up to date starts with revising the policy to include major life changes. An annual review of coverage will help make sure it still corresponds to a family’s needs. 

Policyholders can reach out to their insurance agency if they have questions or if they’d like to check in. 

Caracciolo Insurance Services is a family-owned insurance agency. Tena Caracciolo, president of Caracciolo Insurance Services, has been in the insurance industry since 1989. She has established herself as one of the top agents among her peers and clients. She can be reached by email at [email protected] or by calling (951) 397-4010.

Submitted by Caracciolo Insurance Services.

 

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