5 Reasons to Say “Yes” to Uninsured Motorist Coverage

Thu, 03 Aug 2023 15:07:00 GMT

The post 5 Reasons to Say “Yes” to Uninsured Motorist Coverage first appeared on Liveoak Agency .

3 Reasons to Consider Renters Insurance

Thu, 03 Aug 2023 15:03:00 GMT

The post 3 Reasons to Consider Renters Insurance first appeared on Liveoak Agency .

Distracted Driving is Dangerous!

Thu, 03 Aug 2023 14:43:00 GMT

The post Distracted Driving is Dangerous! first appeared on Liveoak Agency .

Is Life Insurance Really Worth It?

Thu, 03 Aug 2023 14:41:00 GMT

The post Is Life Insurance Really Worth It? first appeared on Liveoak Agency .

Look Out! Deer!

Thu, 03 Aug 2023 14:34:00 GMT

The post Look Out! Deer! first appeared on Liveoak Agency .

All Boat Insurance Is Not The Same

Thu, 03 Aug 2023 14:29:00 GMT

The post All Boat Insurance Is Not The Same first appeared on Liveoak Agency .

Car Color and Car Insurance

Tue, 23 Aug 2022 13:23:18 GMT

Car Color and Car Insurance-Does Color Count?

You have saved your hard earned money for months. You have searched Google, test driven, pondered, watched Facebook, checked Carfaxed, and now you’re ready to buy. Ready to buy that car. There is a decision left to make – which color to buy? Silver? White? Blue? RED? red car no different

Nope. No way. Never red. Your car insurance rates would go through the roof. Steer clear of that bright blue, too. Or should you…?

Does Car Color Influence the Cost of Insurance?

No. Not at all. The idea of car color having any effect on the amount of your auto premium is what those in the know call “conjecture,” and what we lay folks call “a myth.” That being said, don’t think insurance providers haven’t considered it. But, the few studies that have been conducted failed to prove – or disprove – any link between car color and risk of crash. And because insurers base premium rates on proven risk analysis, car color has not been added to the mix. Click here for more information.

What Items Do Affect the Cost of Insurance?

Insurers establish their rates, their way. Nevertheless, there are key factors that all insurers consider when determining your auto insurance premium.

Driving Record

Insurers will evaluate your Motor Vehicle Report to determine the likelihood of your being involved in an accident. Your MVR itemizes past moving violations and accidents. To keep your premium reasonable, don’t drive like a crazy person. The cleaner your driving record, the lower your premium.

Age, Gender, and Marital Status

Age. As far as an insurer is concerned, age is directly tied to experience. The more driving you’ve done, the better driver you are. The better driver you are, the safer you’ll be.

Gender. Sorry, fellas. Statistics say females are less likely to be involved in an accident than their male counterparts.

Marital Status. Actuarial statistics continue to back this up. Married drivers are less likely to be involved in an accident than unmarried drivers.

ZIP Codes

Insurers assign ZIP codes different risk levels based on the number of severity of auto insurance claims in that area. Any claim-worthy activity is included in this assessment, for example, collisions, vandalism, or theft.

Insurers might also consider other factors when determining your policy premium, like the make and model of your car, your credit rating, and how you use your car, i.e., commuting vs. around town. But until there is statistical proof correlating car color to crash risk, go ahead – pick a color, any color.

Contact the insurance professionals at Liveoak Agency for more information.

(334)-285-2881