posted
So I turned 25 back in march and just got my new bill for car insurance and it's the same as my last one. I'm confused because I was under the impression that turning 25 bumped you up into the next cheaper insurance bracket.
It's possible that my first bill already accounted for me being 25 (since I was only a couple months away from it at the time) but I'm wondering if I should be calling up my insurance agent and pestering her about this. I mean, it seems like something that should just automatically be factored in when you tick over that milestone. I just think it'll be an akward conversation: "um, hey I'm 25 now, shouldn't I have to pay less?"
Anyone who knows more about the insurance industry etc that might be able to help me out here?
Posts: 1038 | Registered: Feb 2006
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posted
Get a bunch of new quotes from different insurance companies. You should probably do that anyway if you haven't in the last couple years. It may be a little awkward with your agent if you know them personally, but I'd just let them know that you turned 25 and are getting a bunch of quotes from places, and would like to get re-quoted from your current company.
Also, you could get married Posts: 1412 | Registered: Oct 2005
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posted
Sometimes you have to call to get the discount. Sometimes you have to actually switch to a new policy, so you might still be on the old one and they have to write up a new one to give you the new discount. It depends.
Posts: 21182 | Registered: Sep 2004
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posted
Your policy is a contract for either 6 or 12 months. This means your rate is locked in for that period of time, up or down, and based on your age at the beginning of your policy term.
Allstate, the company I sell for, will allow you to call up and have your agent do an age change mid-term, but they don't advertise it. Companies I sold for in the past would not allow this, and would make you wait until the policy renews.
Posts: 3134 | Registered: Mar 2005
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posted
hmm, sounds like I have to call them up and ask most likely.
the thing is that I just started with this company in january, but the new contract just came in the mail for the next six months, and I expected it to be cheaper (since I turned) but it's not.
I didn't expect to change anything mid-term (hence why I didn't bug them in march) but I figured when it was time to renew that would be something that would take effect.
Posts: 1038 | Registered: Feb 2006
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quote:Originally posted by TheGrimace: hmm, sounds like I have to call them up and ask most likely.
the thing is that I just started with this company in january, but the new contract just came in the mail for the next six months, and I expected it to be cheaper (since I turned) but it's not.
I didn't expect to change anything mid-term (hence why I didn't bug them in march) but I figured when it was time to renew that would be something that would take effect.
What company? Erie Insurance lowers the rate at 24 not 25, I'm sure some others might to. You may already be paying the lower rate.
Posts: 3134 | Registered: Mar 2005
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posted
The same thing happened to me. When I asked about it I was told that they give a discount for being 25 OR married. Since I was already married (at 19) I was already getting it.
Posts: 369 | Registered: Apr 2007
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If you have great credit, check Allstate. They rely on credit more then driving records.
If you want to go your entire life paying the best insurance rate, I'll tell you how. Stay with the same company for 5 years with liability limits of at least 100/300, and have excellent credit. Most companies offer very large discounts for all 3 of those factors. Also if they ask about your education and employment ALWAYS say you have a Master's degree, and are a teacher or something else that may be prestigious. They have no way of checking in most cases, and companies like Geico and Liberty Mutual give additional discounts based on that. Keep your current policy in force until you get your policy in the mail with the new company, to make sure the policy was set up right. The old company should back date the cancellation to the start date of the new policy, or make the new policy effective a month from now. If you want to cancel before your current policy expires, contact them and ask if there is a penalty. Most companies do not penalize you for cancelling early.
Posts: 3134 | Registered: Mar 2005
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posted
Keep in mind that age 25 may not be the only factor. You need to look at the individual and not at basic general personal data.
For example, were do you live? I went from paying a very high price for basic state minimum coverage to getting full coverage with extras for substantially less money simply by moving from a metropolis of 2.5 million to a small town of 150 people. Though, in all honesty I would't have necessarily had to move to such a small town to get that rate.
Any tickets? How's your credit rating? Ever sued anybody? Ever been sued? How far do you drive to work? What is the nature of your driving; rural, suburban, urban? How many miles per year?
Etc...etc...etc....
My point is that other factors may be holding your rate up.
Also, I agree with other here, it is possible your agent simply doesn't know. Or, it is possible, again as others have said, they you simply received the bill for the next due payment; that is not necessarily the end of the term of the policy.
If you want to lower it even more, take a defensive driving course (no on the road training) that will earn you an additional discount.
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