Insurance Companies are constantly trying to find ways to be more competitive using data that helps identify rating factors that can give them a pricing edge. Some are obvious some are more subtle. The bottom line is the more information you give the better chance we have of obtaining a discount for you.
Auto, RV, Boat, Motorcycle and RV Discounts:
The common rating factors you may know for vehicles are, number of losses in the last 3-5 years, driving violations, market value of the vehicle, age of driver, marital status of driver. But there are many other more subtle factors they may use to help offer more discounts. Amount of liability coverage, the more the better but 100/300/25 at least, the annual mileage driven, if commuting, the number of miles to commute, less than 4 gives the best discount, length of time insured, occupation, highest education level, credit rating, which company insured you last and what zip code you reside in.
Common rating factors: age of home, value of home, construction of home, fire station and fire hydrant proximity, roof material used, prior losses – especially water losses. Also marital status, credit rating, highest level of education, occupation, primary home or a rental/secondary home, have you been insured before and zip code.
All insurance companies have a “appetite list” of businesses they want to write. This List varies from company to company. If your business fits into a list you will begin with discounts and specially designed coverage’s. Most lists will contain typical strip-mall or store front businesses. There are some exceptions: contractors, manufactures, restaurants that serve liquor, taverns, wedding or event planners. These many times will require specialty markets that we do represent. Other discounts come from length of time in business, prior losses, experience of owners, location, owner or tenant of building used, its construction and age.