Contact: (217) 355 9075 - Address: 702 Bloomington Road. Suite 205. Champaign, IL 61822 - Email: dave@insuringchampaign.com

good credit is sexy 2

We sell auto insurance policies all day long. More and more new clients are asking, “Does credit rating influence my car insurance premiums?”

This is a very important question because the answer is “yes”. In Illinois, your credit rating absolutely influences your car insurance premiums. If two individuals apply for car insurance, share the same underwriting attributes, but one has a lower insurance score, than the the individual with the LOWER credit score is going to pay more.

Over 90% of the major insurance companies in Illinois use information from your credit report to determine the rate for your car insurance and home insurance. Some companies really punish drivers with lower credit scores more than others. If you work with an Independent Agent or Broker like Rueck Insurance, they will quote you with multiple companies to help find the best fit for your credit score.

One thing to know is that your insurance agent/broker will not have access to your credit report. Each company takes the information they gather from your credit report and give you and "insurance score", your agent will only see the "insurance score' that each company assigns you.


teen driver texting

When we think about adding our newly licensed driver to our insurance policies I think 2 big thoughts come to mind… 1. I am not ready for this and 2. My bank account isn’t ready for this. We at Rueck Insurance can’t really help with problem #1. As parents ourselves we won’t pretend we were even close to being ready for our little ones to be darting around town at the age of 16. However, we can help with #2. Oh and we have news for you… we are going to do that part together.

So how do we attack this?

  • 16 year old drivers cause accidents and get tickets… it’s just the fact. The probability of a newly licensed driver (regardless of age really) is more likely to get into an accident than let’s say a 50 year old driver with 20 years driving experience. Once you come to terms with this we can then move to number 2.

 

  • Let’s talk when your “student driver” has a permit. In Illinois your teen can obtain a permit at the age of 15 ½ years of age. When this happens call us. We can help set you up for some discounts your teen would be eligible for if they had enough time to prepare for. Example… if you’re teen has a 3.0 GPA or higher this would allow a LARGE DISCOUNT to your auto insurance policy. I mean it makes sense right? Good grades = better more conscientious drivers.
  • Let’s talk getting a pre-emptive strike on those future premiums. One of my companies will rate your newly licensed 16 year old driver as an 18 year old driver if you have been insured with them for 2 years or longer. This could reduce the premium for that driver by as much as 30%!

 

  • Let’s talk options- We are a broker. This means that we have options!!!!! Hooray! Let’s say the current insurance company you are with (could be any of my companies I represent also) would like to increase your premium by 1000/6 months to add Jr. (don’t pass out) to your policy. Instead of saying it kind of is what it is… together we will re-shop your insurance rates and see if there is a better company out there for you and your newly licensed driver. Sometimes this option still amazes me!

 

  • Not all coverage is created equal when it comes to $$$- Before you had a youthful driver maybe your outlook on insurance was we have to have the Best you have to offer. We have to have low deductibles and high liability limits. Well I think that is amazing and should always have rainbows and butterflys in your life as well… but the reality of it is when you add a teenage driver to your household… that feeling in the pit of your stomach you feel when I tell you the price, can sometimes make you questions what coverage is right for you. I am here to tell each and every one of you. YOU WILL NEVER HAVE A CHOICE AS TO WHETHER OR NOT YOU WANT TO FIX SOMEONE YOU DID DAMAGE TO. EVER! However, you have the choice to not being able to fix your own damage because you can’t afford your deductible etc. If you have to choose between higher liability limits or lower deductibles… PICK HIGHER LIABILITY LIMITS EVERY SINGLE TIME. And twice on Tuesday.

 

  • We’ve got to continue to review and reproach- After your new driver has been licensed for a year you will have the opportunity to hopefully have some breathing room. Not only in your life but in your premium on your insurance policy. The more experience your teenager has behind the wheel the less it will affect your insurance rate. This is where it is important to have a great relationship with your insurance agent. They can help you determine when to file a claim (if minor and based on circumstance) they can also help you determine new potential ways to save you on your insurance policy.

Ultimately adding a new teenage or youthful driver doesn’t have to be scary. Put away your Horror Movie soundtrack and turn up that Sound of Music. We are going to do it together. Let us help you prepare for your new driver and answer any questions you might have. The more information you have the more equipped and prepared you will be for when you need to add you bundle of teenage joy to your insurance policy.


teen driver car shopping

With 83 percent of purchases being for used vehicles, the IIHS organization has just published it's first-ever list of recommended autos for teens. The list covers autos costing from $5,000 to $20,000, with safety as a paramount consideration.

IIHS says buying decisions should be guided by four main principles:

1. Stay away from high horse-power that often encourages speeding.
2. Bigger, heavier vehicles offer better protection in a crash. There are no small cars on the list.
3. ESC – electronic stability control – is essential for safer driving on curves and slippery surfaces.
4. A safety rating of at least 4 out of 5 from the National Highway Traffic Safety Administration.

Buyers should also be prepared to spend a little more than planned. "Unfortunately, it's very difficult to get a safe vehicle for a teenager at the prices most people are paying," says Anne McCartt, IIHS senior vice president for research. "Our advice to parents would be to remember the risks teens take and consider paying a little more."

The list is divided into Best Choices- Recommended used vehicles for teens under $20,000 and Good Choices- Recommended used vehicles for teens under $10,000. These categories are further divided into Large Car, Midsize Car, Small SUV, Midsize SUV, Large SUV and Minivan.

Read the full report, as well as see the list of recommended cars here: http://tinyurl.com/IIHS-teens.

Teenage driver education is a priority of ours. We talk with all newly licensed drivers about driving safety and insurance basics and they also watch a video about Distracted Driving. If you have questions about teen drivers or want to discuss how we can help you when your teen begins to drive, please 
Contact Us. You can also request an insurance quote today to get the conversation started by calling Rueck Insurance at 217-355-9075.


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About Us

Rueck Insurance is your independent, one-stop insurance center for all your personal and business insurance needs in Illinois. Insurance shopping is easy when the Protection Team provides you with multiple quotes to choose from. You will always know you are getting the best coverage at the lowest possible price.

Contact Info

Rueck Insurance is your independent, one-stop insurance center for all your personal and business insurance needs in Illinois.

702 Bloomington Rd#205
    Champaign, Illnois
(217) 355-9075
dave@insuringchampaign.com

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