How is the Cost of my Car Insurance Policy Determined?

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Have you ever wondered how your car insurance rates are calculated?  What affects that number on the bottom of the page? Here’s the answer:

1. What type of car you drive- some cars cost more to insure than others do. Your rate can be affected by how likely your car is to be stolen, its age, the cost of any future repairs, and how safe it is (or isn’t).
2. Your driving record- your driving record largely determines how well you drive (at least in the eyes of your insurance provider). The fewer incidents you’ve been involved in, the lower your premium will be. If you have a slew of accidents and driving violations on your road resume, expect to pay significantly more than if you have a clean record.
3. Where you live- Outside of your own driving ability, some areas are simply safer to drive in than others, both in terms of crime and accident statistics. Your rate can vary depending upon where you garage your car as well.
4. The number of miles you drive each year- Statistics says by the law of large numbers that the probability of an accident increases with the amount that you drive. Therefore expect a higher rate if you put hefty mileage onto your vehicle each year.
5. Your age- Young drivers (especially males) will have to pay augmented rates. Generally insurance providers divide the “steps” into drivers who have been on the road for under three years, three to six years, and more than six years.
6. Your credit- for many insurance providers, your credit score can have an impact on your insurance rates.
7. Coverage- like any other insurance rate, the price is partially determined by the coverage you already have. Make sure you shop around and get the best possible price for the coverage you need.

The good news: There are a variety of auto insurance discounts available to insureds. Here’s a video made by our agency that explains the various discounts you may be eligible for:

Corbin Foucart
Andrew G. Gordon Insurance

Car Accident Tips

You are minding the rules of the road when you get rear-ended; now the scattered fragments of your bumper are decorating the pavement. No one likes fender benders or car crashes, but if you find yourself in an accident, there are things you can do to make the process as painless as possible.

Before you hit the road:
• Drive with a cell phone in case of a need to place an emergency call.
• Carry insurance information in your glove compartment, as well as a pen and pad of paper for taking down information.
• Carry a disposable camera in your car, to take pictures of the crash site and vehicles involved. If there is incriminating evidence of distraction on the other driver (e.g. a full Dunkin Donuts breakfast splayed all over his/her clothes due to the crash), try to discreetly snap a picture. These will be very helpful in determining fault in the accident. DO NOT get the pictures developed as this may destroy their legal integrity. Keep the pictures in the camera and contact your insurance company.

Obtain the following information at the crash site:
• Information about the other driver: name, address, driver’s license number, insurance information and license plate number.
• Information about witnesses: names, addresses and, whenever possible, license plate numbers.
• Information about police officers: obtain the name, badge number and precinct number of the investigating office and request the case control number or accident report number.
• Information about the location: precisely determine the address or location of the crash scene and note information about traffic, weather and road conditions. If the configuration of the roadway played a factor, note that information as well.
• Information about the car accident: write down how the accident happened including fault, layout of the roadway, presence of traffic control devices, etc
Taking these steps will provide valuable information to the insurance company and help facilitate your claim settlement.

And of course, make sure that you are around to do these things. ALWAYS WEAR A SEATBELT!
For more insurance information and resources, visit us at the A.G. Gordon, Inc. Website and get a free quote now!

Simple Stuff, Insurance, and Other Things that are not Synonymous

A brief introduction; my name is Corbin, and I’ve been a social media engineer for Andrew G. Gordon, Inc. for the past 2 months. I’m about to enter my senior year of high school, and insurance is not an entity I’ve had any sort of contact with prior to this job. However, seeing as a succinct job summary of my position would be “gracing the internet with insurance information”, I’ve been exposed to a veritable hailstorm of news, literature, and media all relating to insurance. Poor metaphors aside, I have been able to catch a glimpse into the insurance world, and I’ve managed to cement a few rational impressions about insurance that I might as well share with the internet.

Impression the First:

INSURANCE IS COMPLICATED. Why did I exert the energy to depress the caps-lock key (twice!) in the previous sentence? Because it’s super important. Perhaps there was once a day when cavemen and wooly mammoths nonchalantly shot the breeze about easy to understand coverage and liability policies, but that age is now far in the past. The fact is that insurance is a very complicated entity to deal with, and it has to be, considering the services it must provide. So before you embark on an insurance venture, find good insurance information (trust me, it’s out there) and arm yourself. With some research, you will be an insurance wizard in no time. On an unrelated note, if you are at the point where you are searching for insurance information and stumbled upon this blog, I would like to extend to you the chance to view our website’s “whiteboard talks”. These are educational videos about insurance created for the benefit of humankind, and you can click here to take advantage of them.

Impression the Second:

The insurance industry is not an evil machine out to harm you. Despite this common misconception, every experience I’ve had working at A.G. Gordon, Inc. suggests to me that insurance companies make every effort to make the customer experience a good one. I’ve seen many examples of healthy insurance relationships, business and personal. Despite the generally formidable “street rep” of insurance companies, if you find a good agency, both insurer and policy-holder will be playing for the same team.

Impression the Third:

Understand your coverage. While this is loosely tied to impression the first, I feel it holds enough significance to earn its own paragraph. As I post blogs and summarize articles about insurance, I notice that there are fairly common issues that most people aren’t aware of. Did you know that if a dwelling in MA is left unoccupied for 60 days, the building is considered vacant and fire coverage is cancelled? I didn’t, which isn’t shocking, but neither did my parents, and we’ve moved over 10 times in the course of my childhood, often leaving vacant homes in our wake. How about that rust or other corrosion, mold, or wet or dry rot damage is not usually covered in homeowner’s policies? By taking time to do some policy research, you could save yourself some headaches down the road. And if you are currently a homeowner, I would advise you look at our homeowner’s checklist, a goldmine of good information.

And for topical and relevant insurance information and risk-management solutions, visit us at our website.

Get Registry reminders…automatically

With the Registry providing less notice by mail for license renewal reminders, we recommend everyone sign up for automatic email reminders for renewing your driver’s license, registrations, state inspection stickers. You can use Plymouth Rock’s on-line service, available through our web site at: www.agordon.com. Don’t let an expired inspection sticker, or worse, an expired driver’s license become the reason your insurance costs go up! For the best auto insurance advice, choice, and rates, visit www.agordon.com.

Congress Extends Flood Insurance Program

 The National Flood Insurance Program, which provides flooding coverage across the nation, expired yesterday, June 1st. Coincidentally, June 1st also marks the first official day of hurricane season, a fact that alarmed both coastal citizens and the U.S. Government. “It is completely unacceptable for the Congress to allow flood insurance authorization to lapse during hurricane season,” said Sen. Roger Wicker, R-Miss.  Because of this, an extension until September 30 was approved by congress, in order to ensure ongoing coverage though what will most likely become another destructive year for the massive maritime storms. Hopefully, because of this legislation, there will be a smaller number cowering in fear at the sound of the generic, nursing-home-esque hurricane names.

 

Read the full story here

 

And for relevant information and insurance and risk management solutions, visit our homepage.

Andrew G. Gordon, Inc.

Insurance and Risk Management

680 Main St.

Norwell MA 02061