My Car Insurance Premium Decreased Over $100
Whoa!! I was expecting a reduction but not that much.
Previous 6 mos: $409.10
Renewal Premium: $304.40
Savings: $104.70
Why did it go down so much? Hmm…I’m just speculating because I really don’t know, but I assume it’s because…
- Retroactive savings from the previous 6 month period. When the policy renewed 6 months ago, it increased by $2 and change. I thought it was odd but too busy to investigate.
- Current savings for customer loyalty.
- My last accident is now over 5 years old so it dropped off their radar.
- I own a car with well known safety (and anti-theft ??) features.
- I have good credit.
- I live an area with a low property crime rate.
I was playing around with the “get a quote” feature and I think it’s interesting how the actuaries estimate the likelihood of claims. Assuming all things remain constant except the last one - if I moved one mile east, my zip code would change and the premium would increase by more than $50. Weird. But I’m not complaining at all. The $100 savings will be put to good use.
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Have you read the Fabulous Financials comment policy lately?
I know when I move, my insurance is going to drop drastically. When I moved to where I am now (like 10 miles from Brick City), my insurance went up over $100/six months. I figured it would drop quite a bit when I turned 25, it barely did anything! I had no idea that living in certain areas impacted insurance that much. Oh also my FICO should be getting better as my cc balance is going down at a pretty steady rate. We’ll see what happens come March when it’s time to renew :o)
My insurance dropped by $75 a month because I got a life insurance policy for $20 a month (dual line discount.) Obviously that’s a pretty good deal!
its more likely to do with the last accident date being over 5 years now. my insurance dropped also when the 5 years were up.