On a regular basis our agency receives requests for car insurance quotes. If you need a insurance quote you can call us at 513-662-7000 or use our convenient online system when you click, get cincinnati car insurance quotes now. 

Sometimes Customers Get Overcharged by Thousands of Dollars!

In some cases as we are preparing the quotes, we find that our prices are thousands of dollars less compared to what the individual is paying right now on their current insurance policy.

Why do policyholders occasionally find themselves in a situation where they are being overcharged, potentially by thousands of dollars on car insurance in Cincinnati?

There are actually a number of reasons why this might happen and we are going to discuss in a series of articles, why policyholders might be getting overcharged by hundreds or even thousands of dollars by their insurance company.

First Reason Why Consumers Get Overcharged on Cincinnati Car Insurance

You are with a high risk insurance company!

Let’s assume a few years ago you developed a bit of a lead foot and you accumulated a number of tickets or you caused a few accidents and you were forced to buy high risk insurance. Let’s also assume that over time you learned your lesson and your driving record improved significantly and now you do not have any tickets or accidents on your record.

It’s true that even a high risk insurance company will lower your rates when tickets and accidents begin to come off your record, what you may not realize is that high risk insurance companies typically charge a larger premium compared to a preferred company. Let me share with you an actual example.

Let’s say that we have a husband and wife in their 40s driving a 2010 Honda Civic + 2004 Honda Pilot SUV. Coverage limits for liability are $100,000 per person and $300,000 per accident, $100,000 property damage. The quote includes full coverage with a $250 deductible for comprehensive and a $500 deductible for collision, plus car rental.

If the husband and wife are with a high risk insurance company because of their past driving history, but now their driving record is spotless. This is what they would be paying with one high risk insurance company:

Cincinnati High Risk Insurance Company- $236.83 per month.

Let’s now take the same couple and offer them a very competitive Cincinnati car insurance quote from a preferred insurance company:

Insurance Rates With a Preferred Company- $70.34 per Month.

In this example it’s more than three times more money to be insured with a high risk insurance company even if your driving record is spotless.

What Is the Moral of the Story?

If you were once with a high risk insurance company because of your driving record and your record has improved, give us a call or use our online car insurance quote comparison system. You will likely save a significant amount of money on your premiums!

Call 513-662-7000 For Extremely Competitive Car Insurance Rates!

If you’re looking for Progressive Auto Insurance Quotes in Cincinnati you can contact our independent insurance agency at 513-662-7000.  Or click: Online Progressive Auto Insurance Quote 

Progressive Insurance admitted recently in a quarterly financial report that the advertising campaign, Name your own price from Progressive Insurance is helping them to increase sales.

Their approach in their advertising commercials sounds logical.  You pick the amount of money that you want to spend on your insurance and the insurance company will offer the coverage limits to match your budget request.

But is there a hidden danger when you take this approach to picking an insurance company?

Picking your own price for car insurance in Cincinnati could get you burned financially if you pick the wrong limits!

If you name your own price from Progressive insurance in Cincinnati you could inadvertently endanger yourself if you choose liability limits that are too low for your insurance needs.

How so?

For illustrative purposes let’s use my personal situation. Right now I spend about $74 per month for my car insurance. If I wanted to reduce my insurance budget to $52 per month on my car insurance in Cincinnati and I decided to use Progressive’s name your own price option this is what would happen:

For the two cars that I insure, $52 per month with Progressive Insurance in Cincinnati would only buy the state minimum coverage limits ($12,500 per person $25,000 per accident $10,000 property damage) with a $1000 deductible on comprehensive and collision, there would be no uninsured motorist coverage, no coverage for car rental, roadside assistance or loan gap payoff coverage.)

I save $22 per month by naming my own price Insurance in Cincinnati, but what did I give up?

My current coverage limits are $500,000 per person, $500,000 per accident, $500,000 for property damage, $50,000 for medical payments, $100 deductible comprehensive, $500 deductible collision, I have car rental, roadside assistance and loan gap coverage for both of my vehicles.

So to save $22 per month with Progressive car insurance in Cincinnati I decreased my coverage by a factor of 40!

Was That a Smart Decision to Reduce My Coverage Limits so Low?

Therein lays the problem when you name your own price. For some of us we may only be able to afford the state minimum liability limits, or we may choose low limits because we don’t think anything ever is going to happen.

Insurance is way too complicated to purchase on your own without professional advice.  There are simply too many variables and factors that need to be taken into consideration before you arbitrarily decide how much you want to spend on your insurance.

Purchase Your Insurance from an Independent Insurance Agency in Cincinnati.

We provide all new customers the valuable Pathway Coverage Checklist™ + a special report titled: How much liability insurance is enough?

Pathway Insurance Contact Information

513-662-7000 or write Jack@pathwayinsurance.net

Click here for online insurance quotes in all 50 states.

An interesting article appeared in the Cincinnati Enquirer a few years ago:  Speeding tickets jump in small towns

The article cited data from the Ohio Supreme Court that shows a 7% statewide increase in traffic citations, and of the 33 Mayors Courts in Hamilton County 22 have seen an increase in tickets being issued!  Let’s assume for a moment that you are on the receiving end of a few additional tickets. 

How Badly Can Tickets and Accidents Affect Your Insurance Premiums?

Unfortunately they can have a very detrimental effect on your insurance premiums!  If you acquired too many tickets and accidents you know might be a candidate for Cincinnati high risk insurance!  Hopefully not.  But it can happen. If you do get a rate increase on your insurance give us a call 513-662-7000 because we can probably help you find lower rates. Or we can complete some online car insurance quotes for you click: Cincinnati high risk auto insurance from companies who will give you a break on your premiums if you have one too many tickets, claims, or accidents.

Why Tickets Go up As Tax Revenue Goes down?

Its simple economics.  Tickets can bring in needed revenue for the townships facing unprecedented budget cuts.  For instance if the average police officer earns $50,000 per year, that officer would only need to issue 500 tickets a year at an average cost of $100. (Some tickets can be significantly higher than $100.)

500 tickets sounds like a lot but it’s only an average of the police officer issuing two tickets a day, assuming that he works five days per week and has two weeks of paid vacation. If the officer can issue three tickets per day that brings then an additional $25,000 per year in revenue!!

According to the website speedingticketCentral.com some towns like New Rome, Ohio and Waldo, Florida take in over 70% of their entire town budget through speeding tickets!

How Do You Avoid Getting Tickets?

Instead of purchasing the latest laser/radar detectors why don’t we all try something simple such as?

Obeying the traffic laws!

Avoiding Tickets Helps You Avoid Rate Increases on Your Insurance!

In many instances tickets are avoidable if we obey the traffic laws, but sometimes we are just at the wrong place at the wrong time when we get that ticket!  What’s difficult to understand about insurance pricing is that each insurance company views tickets, accidents, or claims differently from one another so one company may be more willing to penalize you when the tickets and accidents pile on.