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8/26/10 - Do you have a young driver that is going to college? 

What if…

• .. they do not have a car at school?  If the student will continue to drive while at home on school breaks, they should continue to be listed on your auto policy. If they are attending school more than 100 miles from home, and are not taking a vehicle with them, your policy may qualify for a distant-student discount.

• .. they might occasionally drive a friend’s car at school?  Students generally would be covered while driving a friend’s car if they are listed on their parents’ policy and do not have regular use of the vehicle. The coverage would likely be secondary in this case, as the carrier for the friend’s vehicle likely would be the primary coverage.

• .. they are getting good grades – do they qualify for any other discounts?   In addition to the possible distant-student discount mentioned above, students may qualify for a good-student discount. To qualify, a student must be enrolled in at least four courses per term as a full-time student at an accredited college or university and meet certain academic qualifications.   Generally they must prove at least a “B” or 3.0 grade point average each semester to continue receiving the discount.

Also, if they are not living at home, don’t forget renters’ insurance to make sure their personal possessions are covered.  And each roommate would need his or her own policy to cover their own things. 

8/19/10 - How Does Credit Affect Insurance Rates?

Credit-Based Insurance Scores Explained

Most insurance companies use many factors to price your insurance, including your driving record, your claims history, the type of home or vehicle you own, and your credit-based insurance score (“CBIS”).

What is a CBIS and why does it matter?

Your CBIS is not the same as your personal credit score, nor is it a measure of your credit worthiness. The CBIS is a number that measures your likelihood of having an insurance claim. Studies have shown that consumers with higher CBIS have fewer and less severe losses. For this reason the CBIS is useful as a rating factor, but it is only one of many that are used.

Because your personal credit history affects your CBIS, it is important to regularly review it and make sure that it is accurate. The Fair Credit Reporting Act (FCRA) allows you to order one report for free from each of the major credit reporting agencies each year. You may also purchase a "3-in-1 report" to review your scores from all three major credit bureaus—Equifax, Experian, and TransUnion.

Credit rules vary by state 

Most states have rules that state how credit can be used in insurance. Contact your state’s Department of Insurance for the latest information on your state’s rules. 

Credit Report Errors

If your credit record is incomplete or has an error, ask the credit reporting bureau to make the corrections. If they do they will notify you in writing. Then you can let us know if you want your policy updated by providing a copy of the notice with your name and policy number.  You can mail or fax it to us, or scan and email it.  Go to www.bergeninsurance.com for contact information.

Visa gift card winners

Remember we are doing our contest again this quarter.  Through 9/30 if you refer a friend, call for an additional quote (or quotes!) and mention the contest, or click to Like us on Facebook - each time you will be entered in our drawing to be held in October.

And for the next 15 people who refer someone to us for a quote, we will also give you a $15 restaurant gift card, call or email for details on that!

Winners from the last contest below – call or email us and tell us where to send your $50 Visa gift card!  (And thanks again to everyone who entered!)

Tamara Szewc  *  Haley Fredrickson  *  Lori Meredith  *  Janet Balster  *  Stacey Roth

8/17/10 - Lowering The Cost Of Auto Insurance

There are a number of factors that go into determining the cost of your car insurance premiums, and we have some helpful suggestions to help you lower your costs.

How To Lower Your Cost

Models make a difference
Shopping for a new car? Or are you shopping for a collector, classic or antique car? The type you choose can affect your costs. High-end luxury cars and performance vehicles cost more to repair, maintain and insure than family sedans. The same applies to classic cars: the more expensive to buy, the more expensive to repair, maintain and insure. The age of the car also makes a difference. Newer cars might cost more than older ones.

Safety saves     
Not only is it smart, but a clean, safe driving record can also lower your rates. The safety equipment you choose for a vehicle may mean discounts. Ask your agent about other ways to be rewarded for safe driving and vehicle protection (such as anti-theft devices). In addition, taking a driver-training or accident-prevention course may qualify you for additional discounts.

One company + combined policies = lower cost
The more insurance policies you have with a company, the more substantial the savings. So, try having one company cover all of your insurance needs.

Determine your deductible
A deductible is the out-of-pocket amount you are willing to cover in the event of a loss. The higher your deductible, the lower your premium. Increasing your deductible saves you money. Decide if you’re comfortable paying more out-of-pocket after a loss later in order to save money now.

Update your agent on any changes in your life
Are you still insuring drivers who no longer live with you? Do you drive less for your job than you used to? Has your Insurance Bureau Score changed? Just graduated from college? Moved to a new neighborhood? Your teen driver getting good grades (they may qualify for a “good student” discount)? All of these things affect how much you pay and could result in discounts. Call us to discuss any changes.

Other Auto Insurance Factors

What you pay for auto insurance could be determined by many factors. In addition to the information above, here are some other things that may affect how much you pay:

How much you drive
Drivers who use their car for business and long-distance commuting usually pay more than your average driver.

Your age, gender, and marital status
Statistics show that these factors relate to accident rates so they’re a consideration.

Where you live
Rates vary depending on city, state, sometimes even different neighborhoods and ZIP codes within a city. Insurance companies research the accident/claim rate in an area, and your premium will reflect that. Live in a high accident area? Expect to pay more.

Your driving record
Drivers with a history of accidents or motor vehicle violations (such as speeding tickets) generally pay more than those who are accident-free for several years.

Your credit history
Studies have shown that credit history relates to accident rates and may make you seem like a higher risk.

Next time we’ll talk more about auto insurance, and about credit score and how it can affect your rates.