An Auto Insurance Agent in Magnolia can help a consumer shop around for a different policy if life circumstances have led to a hike in his or her premiums. The search for a better deal may still only yield premiums that were higher than the person was previously paying, but may still be lower than the current company is demanding.
Citations
A variety of occurrences can lead to higher premiums, but the most common is receiving two or more citations for moving violations within a relatively short time frame. This is a red flag for insurance companies, as the underwriters view this behavior as a higher risk for an accident. Some tickets are considered more troubling than others, including speeding a certain number of miles per hour over the posted limit.
Accidents
Actually causing an accident also may result in a rate increase. An independent Auto Insurance Agent in Magnolia checks different companies to learn whether the driver can obtain a lower quote for the same coverage. Some have specific discounts that the current insurer may not, which may keep the premium lower. For instance, there might be a discount for being able to keep the car in a garage at home or for being a military veteran.
Moving
What if the person didn’t have any collisions or citations? It’s frustrating to get a more expensive bill with the policy renewal, but there are other reasons automotive insurers raise rates. If the policyholder has moved to a city with higher rates of vandalism and vehicle theft, that could have caused the change.
Underwriting Increases
Often the reason has nothing to do with the customer but with the insurance company issuing across-the-board increases. There may have been losses during the previous year that went beyond forecasts, leading to the need to generate more revenue.
When getting quotes from an agency such as Insurance Discounters of Texas, this is an ideal time to evaluate the current level of coverage. It may be time to make some changes. The driver may decide he or she wants extra financial protection or a different deductible amount. Anyone who wants to get started finding quotes may visit the website.
