Car Insurance Bryn Mawr Pa

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: 

Car Insurance Bryn Mawr PaMistakes We Make On Insurance. 

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: 

Auto insurance Upper Darby Pa

If you’re looking for homeowners or Upper Darby Car Insurance call the personal lines specialist at Humphries Insurance by dialing 215-646-5633 or use our online rate quote system when you click Upper Darby Car Insurance. 

Want a quote from Erie Insurance? Click on Erie Insurance Upper Darby. 

In our previous article we discussed why it is important to include all tickets, accidents, claims, and not at fault accidents on your record when you’re requesting quotes for new car insurance. 

The reason why this is important is because you could receive a huge rate increase over and above the premiums quoted to you, or in a worst-case scenario a cancellation! 

What happens when the agent you request a quote from doesn’t input the correct information? 

Couple uid 1461578Mistakes Made When Shopping for Auto Insurance Upper Darby Pa.

Example: Stan and Vicki had been insured for many years through one agency and because of claim activity they received a large rate increase on their car and home insurance. 

Stan feels mistreated by his current company and decides to shop around.  He finds a new agent with a company that lowers their rates by 30% on both car and home insurance! 

Eager to take advantage of such a savings Stan meets with the new agent Fast Fingers Eddie and he issues a new car and home insurance policy for Stan and Vicki. 

About two weeks later Stan calls his soon to be former agent Michael to cancel his current policy. 

Michael expresses that he is sorry to see them go and he asks Stan if the new insurance company documented all of the activity on their driving record plus the two homeowner’s insurance claims they have had in the last three years. 

Stan confidently assures Michael that the new company issued a policy and checked everything. 

Michael asks another question: “Did you get the new policy yet?” 

Stan growing a bit irritated states “No but the agent promised we would be covered and accepted by the new company based on what was on our claims record.” 

Michael suggests, “It might be wise to get your new policy first before you cancel your existing policy just to make sure there are not any problems getting the new policy issued. I’m familiar with this particular insurance company’s underwriting standards and I don’t think they’ll take you Stan.” 

Stan wasn’t in the mood to argue so he requests the cancellation immediately and Michael takes care of that and wishes them the best. 

About 1 week after cancelling his previous policy Vicki called Stan at work in a bit of a panic. 

“Stan this new company you got us signed up with Fast Fingers Eddie is cancelling our home insurance policy and the rates on the car insurance are $400 higher than our old policy you just canceled!” 

Stan immediately called Fast Fingers Eddie and he hemmed and hawed and said something about some underwriting changes. 

Later that day Stan read the rejection letter from the new company where it clearly stated that the reason for the cancellation of the homeowners was due to undisclosed claims and the car rates are more because of undisclosed tickets. 

Stan calls his former agent back and they were able to find an insurance solution for them. 

What Lessons Can We Learn When Shopping for Insurance in Upper Darby Pa?

Always make sure agents properly list all of your driving and claims activity on your quotes otherwise you may not receive the rate as applied for! 

In our next article we will discuss a technique that some insurance companies use to gain new customers by not running their motor vehicle report and then later when an accident or claim occurs they run the reports and fully charge the insured with everything on their record at that time. 

Need an Agent You Can Trust?

Call Humphries Insurance at 215-646-5633 or click on: 

  • Car Insurance

    A common mistake made by insurance shoppers is assuming coverage is identical between insurance companies.

    You might have the same limits of liability and deductibles with two different insurance companies, yet the claims results can be completely different.

    That's why it's important to work with our insurance team. We will help you put together an insurance plan to meet your individual needs.

    Call us today at 215-646-5633 or use our convenient online rate quote system when you click on instant quotes for car or home insurance!

  • Home Insurance

    Do you know the difference between the HO3 and HO5 Policy Form?

    The difference in coverage between the two policy forms might mean the difference between a claim being covered or denied on your personal property!

    The HO5 is a superior policy yet the majority of home insurance policies sold today is the HO3!

    Call us today at 215-646-5633 or use our convenient online rate quote system when you click on instant quotes for home insurance to learn why the HO5 is better!!

  • Business Insurance

    There are a variety of different types of business insurance policies available for companies.

    From General Liability, Business Property Coverage, Commercial Auto, Workers Compensation Insurance, Employers Liability Insurance, Professional Liability Insurance, Commercial Crime Coverage, Inland Marine Coverage, Cyber Liability Insurance, and many more.

    We at Humphries Insurance can help you choose the coverage most appropriate for your company.

    Call us today at 215-646-5633.