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Post by scrapqueen01 on Jun 7, 2016 0:48:10 GMT
I've been comparing car insurance quotes with various insurance companies. Generally I get insurance on my car in my name since dh only drives it on rare occasions (he is added as a driver). I received an email from one company that said if the insurance is in dh's name the price would be $10 cheaper. What factors would cause it to be cheaper in his name compared to mine?
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IAmUnoriginal
Pearl Clutcher
Posts: 2,894
Jun 25, 2014 23:27:45 GMT
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Post by IAmUnoriginal on Jun 7, 2016 1:07:37 GMT
Better loss score, if you're in a state that allows credit-based insurance scores. That would be my first guess.
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Post by dazeepetals on Jun 7, 2016 1:18:43 GMT
DH is a insurance agent.
He says driving record, soft credit report, and loss report would be the top reasons. He also said try not to focus on the cost difference between companies. The important thing is to make sure you have ENOUGH coverage to cover yourself and the other person (if you are at fault). He's had cases where people didn't have enough insurance to cover the other persons expenses and they were sued for the cost that insurance didn't cover. We have a 1 million umbrella policy added onto our car insurance so that if we are at fault, the insurance will pay out up to 1 million to the other person.
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luvnlifelady
Pearl Clutcher
Posts: 4,428 
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Post by luvnlifelady on Jun 7, 2016 1:44:52 GMT
I need to check if our stay factors in credit rating. DH's is much better than mine (most loans and credit cards, etc. are in my name, therefore lowering my score).
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