If you’re paying $600 a month or more for your car insurance. You need immediate help! Homeowners and families with young drivers are facing “extreme prices” for car insurance as of April 1, 2021. Welcome to Premier Shield your “Simple Solutions to Complex Situations” for Home, Auto, and Flood Insurance help.
We quote many new first-time homeowners who need the best coverage and the lowest possible rates for their closing. Often times when we have the conversation about carrying higher coverage limits of $100,000 per person and $300,000 per accident it will lead to another conversation to add another layer of complexity to the insurance situation.
I’m a Homeowners with a Young Driver and I Feel Insurance Companies are Price Gouging my Policy
Hey, I get it, price is often associated with a feeling of what is and is not acceptable in our brains. If you were born before 1985, prices may feel “really high” or expensive relative to what they were years ago.
The sad truth is the world is a much more complex and expensive place in 2021. The facts for risk have changed dramatically. Cars cost more. Labor costs are higher, Parts cost more, Healthcare costs more, and so on.
For 5 years or more, automobile insurance companies have allowed artificially low premiums for 6 months policy to allow consumers to “gain access” to driving. What drivers have done over the past 5 years has an impact on the future outlook of insurance pricing.
Young drivers are at far greater risk for an accident. So you basically have to pay high rates for that inevitable and likely accident.
How to I Get Lower Car Insurance Rates as a Homeowners with a Teenage Driver in 2021?
The first thing you should do is consult one of our expert independent home and auto insurance agents that can help you lower your annual premiums. We’ve been helping families switch auto and homeowners insurance policies and helping them save money for years. We jokingly say that we solve complex insurance situations, but they’re not really as complex as they are expensive.
Stay with your current auto insurance company provider (Check for Discounts) – Call them and see if you’re getting an accurate rate. Oftentimes insurance agents can miss simple but important car insurance discounts when rating a youthful operator. See if your son or daughter is eligible for the “Good Grade Discount“. Having a child on the honor roll WILL dramatically lower your total cost to insure your child. Make sure you get your child the “Drivers ED Discount” drivers that are eligible for this discount pay much less than drivers that do not enroll in driver training.
Stay with your current auto insurance company provider (Lower Coverage) – This is what a lot of Americans do and they really shouldn’t. If you’re a homeowner you need to protect your assets and your home because “We live in a very litigious society”. IF there is a bad accident that’s your fault, they can lien on your assets, come after your home, and make your life a living hell if you don’t have the proper coverage. Lowering your bodily injury limits is not advisable.
Save Money by Bundling Home and Auto Insurance – Homeowners that combine their car and property insurance policies have the best chance at finding the lowest possible price when combined with other insurance discounts. Did you know if you’ve had the same auto insurance company for at least 3 years that there is an 82% chance you’re overpaying compared to the current market rates you can find? It’s true. Bundling Auto and Home Insurance is a VITAL Step When Insuring a Young Driver: We have surveyed many homeowners over the past 7 years and found that many loyal home and auto insurance companies of top insurance companies have been overcharged. If you have been a loyal customer to your agency but they’ve never found you a lower rate, what does that tell you? It tells us they have profit-sharing arrangements with large companies and they “don’t want to move the business” regardless of what happens to your price. It’s really sad actually. We do what’s best for our clients and their bottom line.
Confront Your Insurance Agent & Agency – Insurance is a “for-profit business” and maybe your local insurance agent or agency isn’t doing what’s in your best interest. Maybe they have “Profit Sharing Agreements” with companies like Arbella, Hanover, MAPFRE, or Safety Insurance. “So What is Insurance Profit Sharing”? They say that “insurance profit-sharing is an additional incentive that insurance carriers offer to their best-selling agencies. Insurance carriers use a part of their underwriting profits to encourage sales and motivate independent agents to sell their products instead of those from another carrier.” We believe this type of profit-sharing arrangement and model, over time, have created a disincentive model that “local insurance agencies” use to this day.
Bundle Your Homeowners Insurance Policy with Your Auto Insurance…”OR STOP COMPLAINING ABOUT HIGH PRICES”
Less expensive options and affordable coverage options are available for your situation. Premier Shield provides you with the strategic advantage of leveraging your homeowner’s insurance policy.
“I’m happy with my home insurance company” is a line often dropped by “monoline auto insurance policyholders“. Listen. If you have an $800 a year home policy and you can get the same or better coverage for your property insurance…while saving $150/month on your car insurance…don’t you should strongly consider it?
When you are a “monoline car insurance customer” you’re basically not what the insurance company wants?
We know and understand how insurance companies work. How they have “insurance tiers” how those “Insurance Tiers Impact Price” and what advanced insurance strategies you can utilize and implement as a homeowner.