Understanding Your Insurance Rate

Why it is important to know how your rate is calculated

Have you ever wondered why you pay a different price than your neighbor or your friends? There are many aspects that determine the rate an insurance company will charge for coverage. 

In general an insurance company will look at the type of vehicle, the coverages you have selected, and your own personal driving and claims history to help accurately rate your risk profile. 

Cost Reducing Measures

A options for reducing price without reducing coverage

• Review your policies annually to avoid being over-charged
• Add or raise Deductible amounts (Or change collision type)
• See if your vehicle qualifies for Low Mileage discounts
• Ask about a Drive Monitoring discount and how to sign up
• Purchase a 6 month policy instead of a 12 month policy 
• Pay-in-Full (while it may be more up front, the savings can be hundreds of dollars)
• Discounts offered to members of groups (Alumni, Credit Union Member, etc.)
• Contact McGovern Agency to discuss even more options!