If you’re looking for better options for home, life, business, or car insurance in Bryn Mawr Pennsylvania or the surrounding areas you have found the right agency!
Call 215-646-5633 and speak to a representative with Humphries Insurance or use our convenient online rate quote system available 24 hours per day when you click on:
In our previous article Stan and Vicki found themselves in a bit of a pinch when an agent named Fast Fingers Eddie did not properly list all of the claims activity on their record.
Eddie issued a car policy that ended up costing Stan and Vicki $400 more than their previous policy and the new home policy was cancelled by the new company placing them in a huge bind!
On top of this Stan and Vicki cancelled their previous policies which could not be reinstated.
Could This Happen To You? You Betcha!
It’s important for you to verify to that agents or companies properly list all of your claim activity when you are shopping for new car insurance in Bryn Mawr Pennsylvania otherwise you might be in for a huge surprise later down the road as was true for Stan and Vicki.
You can read their experience by clicking Upper Darby Car Insurance.
Mistakes Made When Shopping for Auto Insurance Bryn Mawr Pa.
Let’s discuss a technique some insurance companies are using to gain new customers that can lead to significant rate increases at some point in the future for policyholders.
Typically insurance companies run a motor vehicle report, a CLUE report to determine claim activity, and a credit check to determine what rate to charge policyholders.
Some insurance companies are now making a change to running reports. They will not run the CLUE or MVR report if your credit score is at a certain level!
Why are companies doing this?
There are 2 reasons.
Some insurance companies are placing more emphasis on your personal credit versus your driving habits. They are assuming that if you possess outstanding credit you will be less likely to cost the insurance company money.
The second reason is based on trimming expenses. If the insurance company doesn’t order your CLUE or MVR report this saves the insurer money.
For example if an insurance company is charged $8 for the MVR & CLUE report and they run 10 million quotes each year and half of the consumers seeking quotes have excellent credit, the insurance company would save $40 million dollars!
That’s a huge amount of money and for this reason certain companies do this.
However there is a bit of a catch with this strategy insurance companies are using that could cost policyholders a significant amount of money down the road and we will discuss this in our next article.
Need Better Options for Car Insurance in Bryn Mawr Pa?
Call Humphries Insurance at 215-646-5633 or use our online rate quote system when you click: