Auto Insurance Policy Seattle Washington WA
Filed under: Cheap Washington State insurance, Non owner insurance Washington State, SR22 Washington State, Teen Washington State insurance
Reader’s Question:
Here in Seattle, WA, I noticed that most car insurance companies only write six month policies. Why is that? Is that regular practice? Is this the same in other states, as well?
Kurt
Seattle, WA
A six month insurance policy is a regular practice among car insurance companies. Car insurance companies change their rates according to their appraisal of your risk factor. Insurance is about the company having your back when something happens to you, your car, the other car or the driver of the other car. Now, before they gave you a car insurance quote when you first applied for coverage there in Seattle, WA, they checked out your risk factor. They presented a quotation after checking several things out. A six month insurance policy allows insurance companies to recheck or revisit the status of your risk factor and make changes accordingly. They would check if your lifestyle has changed: has it mellowed down or have you taken up drag racing as a hobby. Knowing this, your premium may increase or decrease depending on the outcome of their appraisal. So basically, this can be beneficial for the policy holder, too.
Although, this gives the insurance company a chance to raise premium, this is also an opportunity for the policy holder to lower it. Long term policies are not welcomed by insurance companies as this can effectively immobilize them when the risk factor of a policy holder has increased in the middle of the policy term. If the lifestyle of a policy holder has not or does not change dramatically, then there is no cause for alarm over this six month insurance policy.
Tags: auto insurance, auto insurance premium, Car Insurance Company
WA auto insurance rate
Filed under: Non owner insurance Washington State, SR22 Washington State
Reader’s Question:
My car was damage and I just want to know if my premium will go up if I make a claim on my own car? I live in WA.
Jerome
Thank you for asking Jerome.
It depends upon your insurance company’s rating system if the accident would affect your car insurance rate.
The Washington State Insurance Commissioner states that most companies apply a surcharge to motorist who have been involved in an accident or convicted of multiple moving infractions.
According to the office of the Insurance Commissioner also notes that ca insurance rates are based on different factors. The insurance you pay consists of a “base rate” plus or minus amounts reflecting various factors like your age, gender, marital status, driving history, type of the vehicle, driving record and claims history. There is a different base rate for each type of vehicle and geographical area. While insurance companies may differ in the amounts they assess for each factor, the major rating factors are fairly universal.
So if you are still trying to decide about making a claim for the damage of your vehicle sustained you may then contact your insurance company to get information if this claim may affect your future premiums.
Goodluck!
MariCAR
