Personal auto insurance pricing has changed a lot in the past five years. Credit and claims history now factor into premium rates in a big way. The best rates are reserved for individuals with a very stable credit record, a history of no late payments, and no claims. Quite a few of our carriers now base new-business rates on a five-year claim ...
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Personal Lines Rate Update
We wrote in our last newsletter about Mutual Benefit rate increases for auto and homeowner's. The homeowner's rate increase was effective in January 2011 and the automobile rate increase was effective in April. Most of these renewals have been processed and reviewed. We have moved some of this business to other markets including Penn National, ...
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PA Driver’s License Changes
PA instituted Act 81 effective December 27, 2011. This changes the law with respect to junior driver's licenses in an attempt to have junior drivers get more comprehensive training, ease driver distractions and improve safety by increasing the use of safety restraints.
The act requires that learner's permit holders under the age of 18 have ...
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How much can I save if homeowner’s and auto insurance is combined with one company?
Substantial discounts are available to combine auto, home, and other personal lines policies with one company. Savings are as much as 20%. ...
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I am renting a vehicle on a vacation in Europe or Mexico. Do I need special coverage?
Generally speaking, the personal auto policy does not provide coverage for vehicles rented outside the United States and Canada. A personal liability umbrella policy may provide worldwide liability coverage but will not cover physical damage to the rented vehicle. You may need to purchase both liability and physical damage coverage for rentals ...
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I am renting a vehicle on vacation in the US or Canada. What coverage do I need to purchase from the rental car company?
If you have a vehicle insured under your personal auto policy with comprehensive and collision, generally speaking, physical damage to a rented vehicle which is a private passenger vehicle, pick up or van extends to the rented vehicle with the same deductibles. Unfortunately, the rental car contract may make you responsible for more than what is ...
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I have a student away at school. How will this affect my auto insurance?
If a student is away at school without a vehicle and the school is located 100 miles or more from home, most companies provide a substantially lower rate. If the student is away at school with a vehicle, a lower rate may be available if the insurance company agrees to garage the vehicle at school and if the rating territory of the school location ...
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I have a youthful driver to add to my policy in the near future. What should I consider?
You pay a substantial additional premium for youthful drivers on your auto policy. Discounts apply for good students and driver training programs. Provide the proper documentation to your insurance agent. When you add a new driver, you can save the costs for comprehensive and collision if that driver is rated to an older and lower value vehicle. If ...
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