Janet’s Book Nook

It is amazing the domino effect we see whenever the economy has issues. The housing market bubble caused a credit crunch whereby banks are less likely to provide credit. This also caused some people to have dings on their credit because of an inability to pay their bills in a timely manner. In response to that auto insurance rates rise because they are often based upon credit worthiness and ability to pay. I have seen a rise in the cost of my Van Insurance from last policy period to this one. The rise wasn’t much because I haven’t had any credit issues but I could easily see it being an issue for someone who lost their home because of the mortgage fall.

One of the things that I have learned over the years is that the best way to get the best price on insurance is to shop for it. Insurance is not one of those things where loyalty to one company always pays. I thought it was because I always showed a credit on my policy for renewing a policy. I thought they were giving me a good price because I had been their customer for years and because I had my home insurance policy with them also. Well I decided to shop around once and found that my prices were high compared to what other companies were willing to offer me. I changed immediately. Now I shop around periodically to see if anyone else can offer me a better price. Just make sure that you do some research on the company before you switch so that you know how they are with paying claims, making payments, and customer service. Good Luck!