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You can find cheap car insurance for teenage drivers in Cincinnati – Part 2

Monday, June 15th, 2009

Hey parents, this little known discount might cut your Cincinnati car insurance premiums by 25%!

In our last article we discussed the first step parents should take to save as much as $1,000 on their car insurance premiums in Cincinnati. That step is to take a few minutes to receive comparison insurance quotes from other companies. Car insurance premiums can vary from company to company by thousands of dollars for teenage drivers in Cincinnati and that’s why parent must take this step first to save money.

Because our agency is a broker we represent a number of companies whom have the best car insurance rates for teenage drivers in Cincinnati, and we make it very easy for parents to receive an instant online car insurance quote from multiple insurance companies doing business in the greater Cincinnati area. (Instant car insurance quotes is available in Ohio and Kentucky and quotes can be obtained in all 50 states)

However let’s now talk about a particular car insurance discount that’s available for Cincinnati insurance buyers that you might not even know about, but could end up saving you hundreds of dollars.

This discount is called the Company Car Discount.

The company car discount is applied to a policy when an insured driver has possession of a vehicle that is provided by his or her employer.

The company car discount helps you the most when you only have 1 car on your policy. If you are insuring more than 1 car you should already be getting a multicar discount, however some insurance companies doing business in Cincinnati may offer a discount for a company car even when you already receive the multicar discount. Check your particular insurance company for exact details if this is available to you.

But let’s assume for argument sake you drive a company car plus you have 1 additional car on your policy. Normally, you would not be eligible to receive the multi-car discount. However if you drive a company car you can receive the multi-car discount that could reduce your premiums by as much as 25%! (Discount varies by company)

So if someone in your family drives a company car, make sure that you are getting this important discount. However don’t assume that your current insurance company or agent will automatically give you this discount even if they know you drive a company car.

Do you remember our Cincinnati client I shared with you in my previous article whom we saved more than $1,600 for the year on his car insurance? One of the reasons he was being over charged for his car insurance is because his former agent, either because of greed or laziness did not apply the company car discount even though he knew he drove a company car!

While it’s true that not every insurance company offers this specific discount most do. If for some reason you find out your current insurance company is being stingy by not offering you this money saving discount, or your agent was just too lazy to offer it to you, give us a call or use our free online instant rate quote system. We have a number of companies that will be glad to provide this discount to you!

In our next upcoming issues, we will examine other valuable discounts that will help parents save hundreds, and in some cases thousands of dollars on insurance premiums for teenage drivers in Cincinnati.

Click here if you think you’re being overcharged on car insurance premiums for your teenage son or daughter living in the greater Cincinnati area.

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How to find cheap car insurance for teenage drivers in Cincinnati – Part 1

Monday, May 25th, 2009

The first step you should take to save as much as $1,000 or more when you have a teenage driver on your car insurance policy!

As was discussed in our previous post some parents are shocked when they learn how expensive car insurance is in Cincinnati when adding a teenage driver to their policy. In all actuality car insurance premiums for teen drivers in Cincinnati and the surrounding area are actually quite low compared to some states.

What we will discuss in this article is one of the most important steps you can take right now to lower your car insurance rates for teen drivers.

First you need to understand that insurance companies charge differing amounts of money for teenage drivers. Some insurance companies are extremely reluctant to give parents a good price with teen drivers on the policy.

What’s most surprising about this is that some of the insurance companies that advertise most frequently on television have the highest priced car insurance premiums when you have a teenage son or daughter on your policy! (From our personal experience in quoting against these companies)

The following is an actual example of a client we saved more than $1,600 for the year:

Alan was referred to our agency and was paying $1,903 every 6 months on his car insurance.

We found a company that was willing to insure him and his son for $1,078 for 6 months. That amounted to a savings of over $1,600 for the year! It was the exact same coverage and deductibles.

Naturally Alan was thrilled with the rate because we had nearly cut his premiums in half!

So the first step to take in finding cheap car insurance rates for teenage drivers in Cincinnati is to “shop” around. Click here for an instant rate quote from companies that offer the lowest car insurance rates for teen drivers in Cincinnati and Kentucky.

Another step that can be taken is to make sure that you are receiving all discounts that you are entitled to.

Our next article will discuss a little known discount that may save you hundreds of dollars per year if you qualify.

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Car Insurance Sticker Shock For Cincinnati Parents

Thursday, May 21st, 2009

Cincinnati parents, are you ready for a good dose of insurance sticker shock?

The big day arrives at last, your teenage son or daughter passes their driving test with flying colors and the end of Mom and Dad’s taxi service is finally in site. But wait there is only one small detail left, call the insurance agent to make sure your new driver is added to the car insurance policy just in case…

Several weeks later as you open your insurance invoice a look of unbelief crosses your face. Surely this bill can’t be right, it can’t cost that much money to insure my teenage driver can it?

Car insurance for teenage drivers in Cincinnati is expensive. Some parents have found their premiums double or even tripple when adding a teen driver to their car policy. (If your rates have doubled click here)

The reason why rates are so expensive for teen drivers is due to the fact that younger drivers have a disproportionately higher percentage of accidents, compared to older drivers. For instance:

  • Motor vehicle crashes are the leading cause of death for teenagers.
  • 16 year-olds have higher crash rates than drivers of any other age.
  • 16-year-olds are three times more likely to die in a motor vehicle crash than the average of all drivers.

    • What these statistics mean to you is a big fat rate increase from your insurance company when you add your teen driver to your car insurance policy.

    However there are certain steps that you can take to limit massive premium increases and we will discuss those in future articles.

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    Is State Minimum Insurance Coverage Adequate for Greater Cincinnati Residents?

    Monday, March 16th, 2009

    A popular television commercial airs frequently in the Cincinnati area advertising state minimum car insurance quotes for limited budgets.

    While it’s true that state minimum car insurance coverage may cost you less money than higher insurance limits, it could inadvertently cost you more money in out-of-pocket expenses in the event you are responsible for an accident in excess of state minimum limits.

    For instance in the state of Ohio, state minimum limits as required by law amounts to $7,500 for property damage, and $12,500 individually for injuries that you may be legally responsible to pay.

    In the state of Kentucky the state minimum limits are $10,000 for property damage, and $25,000 for injuries.

    Let’s discuss a scenario to show you exactly how the property damage coverage works:

    Let’s assume that you’re driving north out of downtown Cincinnati on the way to work and you rear end the vehicle in front of you. After all repair estimates are complete it appears the damage total is $4,700 for the other party’s vehicle.

    If you carry Ohio state minimum insurance limits for property damage you have $7,500 to cover the property damage you are responsible for. In this scenario you have enough coverage to cover all property damage expenses.

    Let’s play devil advocate for just a moment and assume that when you rear-ended the first vehicle that vehicle in turn was pushed into the vehicle in front of him because of the impact of your car. It’s possible that you could be held liable for the damage to both vehicles.

    So the first vehicle’s damage amounts to only $4,700, however the damage to the other vehicle was $5,200 leaving total property damage total of $9,900. Subtracting the $7,500 property damage limit your insurance company pays leaves you with a balance of $2,400 that you owe.

    Is state minimum limits enough for Cincinnati drivers? In the first scenario yes, in the second it ends up costing you $2,400 out of pocket. State minimum coverage limits may keep you legal, but may end up costing you more in the long run.

    Please note that in multi-car accidents it may not be 100% certain that in every case the driver causing the multiple car accident is solely responsible other mitigating circumstances could apply.

    If you have state minimum insurance limits click here to upgrade your coverage.

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