This is part 2 in a 2 part series on how to lower your auto insurance premiums. The first part covered 10 variables that you can control when it comes to lowering your premiums, while this post will talk about 10 factors that are out of your control – and what to do about them.
Same Message, Different Company. Different Message, Same Company?

We’ve all seen the ads about how switching your auto insurance from ‘the other’ company to ‘our company’ has saved the customer an average of $XYZ. It’s most likely left you wondering how every single insurance company can save you more than every other one. What that same advertisement doesn’t tell you, of course, is how much the guy/gal who didn’t switch saved by staying with their current auto insurance provider or going to a different one.

And while we’re on the topic of auto insurance commercials, I’d like to take this opportunity to call out the marketing department of Geico. Seriously, guys? The gecko was a pretty cool guy and the caveman thing was slightly funny at first, but it’s simply gone too far. And now the googly eyes on a pile of dollar bills that somehow plays that 80′s song by that guy who is trying to sound like Michael Jackson. And running all three ad campaigns on the same medium at the same time? Collect yourselves, people!

Let’s continue with the ads. Wouldn’t you love to hear “Customers who switched to us saved $215 (while those who didn’t switched saved $357)”? When shopping for auto insurance, unfortunately, there really is no easy answer to the question of which company offers the lowest rates. The reason being is that most insurance companies, by design, use a different proprietary formula to determine what price they can specifically offer you. Some of the variables that go into this formula can be controlled by you, but most cannot.

So what should you do? How do you find the lowest rate? Before we go into premium savings strategy, it definitely pays to know what variables insurance companies are looking at when calculating your risk. Let’s take a look.
The Auto Insurance Premium Factors that are Out of your Control

Fair or not, auto insurance companies (and insurance companies in general) are master statisticians and they have determined the risk to have you as a customer for just about everything down to what color shoes you wear. These are traits or characteristics that you mostly don’t have control over, but are often used to calculate your auto insurance premium. Sure, you can change some of these things, but you would rarely change them just to get a break on your auto insurance.

1. Your age: Most policies give a reduction at 21 years of age, or with 5 years experience. A further reduction can be expected at around 24 or 25. Once you hit the ripe age of 70, you can expect the opposite to occur.

2. Your gender: Women are statistically safer drivers. This one surprises me as I’ve been a passenger while my wife is driving. She was in three accidents prior to meeting me and with my set of eyes to prevent her from driving through red lights when her attention wanders, she hasn’t been in any after meeting me. Sorry, honey, it’s true.

3. Where you live: Locales with high rates of accidents or theft can result in a higher premium.

4. Your past driving record: Some insurers look back three years, others look back five years or longer. Depending on the company that is quoting you and how recently you had a major traffic violation or accident, this can have a huge impact on your premium. Don’t worry about that pile of parking tickets in your glove box as they do not impact your driving record and premiums.

5. Your marital status: Married drivers can pay less than single drivers.

6. Occupation: Doctors tend to get in less accidents on average than ice cream truck drivers. Go figure.

7. College degrees: Most insurers give discounts to alums of certain universities.

8. Years of driving experience: similar impact as age.

9. Business use of vehicle: If using your vehicle as part of your job, you are at risk of a higher premium (and probably rightly so).

10. Multiple Vehicles: Are you insuring multiple cars on the same plan? If so, it could result in lower premiums for each vehicle.

Now that you know what you can and cannot control, what can you do about it?

The answer is simple. Shop around. Frequently.

It’s true that you may not have control over a lot of what your premium is based on, but your saving grace is that the auto insurance companies don’t all agree on how to precisely calculate your risk. Until they do, it pays to shop around.
When Should you Shop Around for Auto Insurance?

For starters, it might make sense to shop around after the following events take place:

* When you turn 21.
* When you turn 25.
* 3 years after you have a traffic violation or accident.
* 5 years after you have a traffic violation or accident.
* When you move.
* When your miles driven decreases significantly.
* When you graduate.
* When you get a new job.
* When you get married.
* When you get a life insurance policy.
* When you get a home insurance policy.
* When you add another car to you plan.
* When you install a theft deterrent device.
* When you get a new car.
* When your credit score has improved.
* Whenever you feel like it!

Final Thoughts:

There is no auto insurer who offers the lowest rates to everyone. But there is an auto insurer who offers the lowest rate to you specifically. You just need to find them. And it might be a different insurer six months or a year from now than it is today. That’s why it pays to know what the insurance companies look at, what discounts you might be able to swing, and to shop around frequently.

If Santa left a new TV, video game system or other pricey gift under your Christmas tree this year, you may need to update your home or renters insurance coverage.



The electronics salesman at Wal-Mart or Best Buy will tell you every single detail about the new Toshiba big-screen lightning-fast laptop, but he won't tell you that you probably don't have enough insurance to replace it if it's damaged or stolen.



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For instance, homeowners who get a $2,500 laptop in their stocking may need a rider to fully cover it against damage or theft. This is because their home insurance policy may consider it a "luxury item."



Similarly, renters need to be mindful of pricey items also. If your renters insurance only provides $2,000 in coverage and your new plasma TV is damaged during a rowdy New Year's Eve party, you probably won't have enough insurance to replace it.



You've probably seen the Lexus commercial where a husband buys his wife a brand new SUV and wraps it in a huge red bow in the driveway. As you might have guessed, luxury cars cost an arm and a leg to insure, so if you're one of the lucky few who got a new ride for Christmas, it might be a good idea to compare auto insurance quotes with InsWeb and keep your insurance premium low.



Nobody wants to think about a lame topic like insurance before the Christmas spirit has completely worn off, but Santa would be mighty disappointed if your new plasma TV goes up in smoke and your insurance isn't adequate to replace it. So don't upset Santa, otherwise you may get a lump of coal in your stocking next year.



In the old days, Christmas was all about families coming together and enjoying the Christmas spirit as a loving family--or so I've been told. But these days, Christmas is a time for eggnog and high-priced consumer goods, so make sure your valuables are 100 percent covered.

Louisiana has the highest average auto insurance rates in the United States, while Maine has the lowest, according to new data from Insure.com that ranks the states according to their average insurance rates (see the full ranking below).

The data, which Insure.com released Monday, comes from a study Quadrant Information Services performed for Insure.com to find the most and least expensive vehicle to insure nationwide, which we covered in this March Bucks post. The data, which determined average insurance premiums rates for more than 2,400 vehicles from the 2010 model year from six large carriers across 10 ZIP codes in each state, also enabled a comparison of auto insurance rates in general across the states.

What’s behind states’ different rates?

According to Insure.com, states’ different laws are partly to blame. “Our findings show that the financial ramifications of specific state laws and regulations are driving high rates in certain states,” Amy Danise, senior managing editor of Insure.com, said in a statement. “No matter how good your own driving record is, you’re paying for the decisions of lawmakers.”

Ms. Danise said she had expected to see states with more urban areas at the top of the list but Insure.com discovered from talking with insurance agents that the states at the top of the list have certain regulations that drive up rates in those states. In Louisiana, for instance, more cases are settled out of court with expensive settlements because only cases with claims in excess of $50,000 receive a jury trial there. In Michigan, meanwhile, which had the second-highest average auto insurance rates, state law provides unlimited medical benefits for accident victims for life, probably pushing up auto insurance costs, according to Insure.com.

In contrast, population levels may be why certain states are at the bottom of the list. According to Ms. Danise, the states with the lowest insurance costs tend to be more rural. Maine, for instance, may have low auto insurance rates because its highways are less crowded, which may mean fewer crashes over all.

Here’s the full ranking below, and let us know if it lines up with your experiences buying auto insurance in different states.

The most and least expensive states for car insurance
Rank State Average Premium
1 Louisiana $2,510.87
2 Michigan $2,098.29
3 Oklahoma $1,869.39
4 Montana $1,857.96
5 California $1,774.41
6 South Dakota $1,772.83
7 Washington, D.C. $1,753.19
8 Georgia $1,751.42
9 Illinois $1,679.15
10 Connecticut $1,678.90
11 Arkansas $1,648.80
12 New Mexico $1,603.65
13 Rhode Island $1,595.97
14 West Virginia $1,589.69
15 Alaska $1,572.21
16 Wyoming $1,552.98
17 Maryland $1,550.13
18 Kansas $1,524.51
19 Kentucky $1,515.30
20 Colorado $1,480.97
21 Mississippi $1,474.94
22 New Jersey $1,473.73
23 New York $1,463.21
24 Texas $1,462.65
25 Florida $1,453.20
26 Pennsylvania $1,420.78
27 Delaware $1,405.80
28 Missouri $1,390.59
29 Minnesota $1,381.09
30 Alabama $1,380.38
31 North Dakota $1,365.22
32 Hawaii $1,306.97
33 Indiana $1,302.51
34 Nevada $1,282.50
35 Washington $1,279.84
36 Utah $1,234.30
37 Virginia $1,233.36
38 Nebraska $1,210.74
39 Oregon $1,194.69
40 Idaho $1,183.47
41 South Carolina $1,182.18
42 Tennessee $1,170.12
43 Arizona $1,152.50
44 North Carolina $1,130.45
45 Massachusetts $1,043.80
46 Iowa $1,039.04
47 New Hampshire $1,011.23
48 Wisconsin $1,010.93
49 Ohio $999.86
50 Vermont $968.58
51 Maine $902.85

Source: Insure.com, from a study commissioned by Insure.com from Quadrant Information Services

http://forums.digitalpoint.com/showthread.php?t=534174&s=fba3f1443fe560421ecc3418f3e076c1

Collision Coverage:
Covers damage to your car when your car hits, or is hit by, another vehicle, or other object. Pays to fix your vehicle less the deductible you choose. To keep your premiums low, select as large a deductible as you feel comfortable paying out of pocket. For older cars, consider dropping this coverage, since coverage is normally limited to the cash value of your car. Coverage is limited to the terms and conditions contained in the policy. This is not required by a state, but if you have a loan or a lease then the lien holder will require it.

Comprehensive Coverage (Other Than Collision or OTC):
Covers your vehicle, and sometimes other vehicles you may be driving for losses resulting from incidents other than collision. For example, comprehensive insurance covers damage to your car if it is stolen; or damaged by flood, fire, or animals. Pays to fix your vehicle less the deductible you choose. To keep your premiums low, select as high a deductible as you feel comfortable paying out of pocket. Coverage is limited to the terms and conditions contained in the policy. This is not required by a state, but if you have a loan or a lease then the lien holder will require it.

Bodily Injury Liability (BI):
Covers other people's bodily injuries or death for which you are responsible. It also provides for a legal defense if another party in the accident files a lawsuit against you. Claims for bodily injury may be for such things as medical bills, loss of income or pain and suffering. In the event of a serious accident, you want enough insurance to cover a judgment against you in a lawsuit, without jeopardizing your personal assets. Bodily injury liability covers injury to people, not your vehicle. Therefore, it's a good idea (and usually a company requirement) to have the same level of coverage for all of your cars. Bodily Injury Liability does NOT cover you or other people on your policy. Coverage is limited to the terms and conditions contained in the policy. It is mandatory in most states.

Property Damage Liability (PD):
Covers you if your car damages someone else's property. Usually it is their car, but it could be a fence, a house or any other property damaged in an accident. It also provides you with legal defense if another party files a lawsuit against you. It is a good idea to purchase enough of this insurance to cover the amount of damage your car might do to another vehicle or object. Coverage is limited to the terms and conditions contained in the policy.

If you watch Barrett Jackson or play the Fantasy Bid contest on Speed Channel, then you are most likely familiar with Hagerty Collector Car Insurance. Earlier this week, Hagerty Insurance announced their collector car insurance is now available to collector car enthusiasts in Ontario.

Hagerty Insurance will be underwritten by Aviva Canada, with distribution occuring through the Aviva brokerage network. Hagerty will provide the call center and marketing support.
This allows Canadian collector car enthusiasts to have similar Hagerty Insurance products and services offered to consumers, in the United States and in the United Kingdom. One program that will be available in Canada will be the he Hagerty Plus program. This program features the following benefits:

* Flat Bed Towing
* Road Side Assistance
* Regulatory Advisory
* Youth Programs and support of collectors foundation (a nonprofit organization helping to preserve the collector car hobby)
* Access to Hagerty’s online information
* Hagerty’s Magazine (quarterly publication)


Hagerty Insurance features their "Agreed Value" insurance policy, this policy has one liability fee, flexible usage, no mileage restrictions and the ability to pick their own repair shop.
Collector car owners in Alberta, British Columbia and Ontario are now able to take advantage of the unique products and services we offer. In partnership with Aviva Canada & Mass Insurance Brokers Ltd., we are excited about being actively involved in the Canadian collector car community, by providing unique coverage’s and a host of related services that support the collector lifestyle.

Consider Your Actual Coverage Options

These days, saving money on car insurance matters more than ever, so more and more drivers are looking for discount auto insurance rates. Smart drivers also know that betting on cut-rate discount insurance may not "pay off" in the event of an accident. So how do you get low cost auto insurance that offers Allstate-quality protection? Simple: take advantage of our discounts on auto insurance.
Insurance Discounts vs. Discount Insurance

What's the difference? For starters, we offer over a dozen types of discounts on auto insurance, for everything from safe driving to good grades. And A.M. Best rates our financial strength as A+ (Superior). Can the "discount auto insurance companies" say that?

Discount auto insurance, on the other hand, may actually look a little cheaper at first glance. But pop the hood and check the details. Double-check how the actual coverage levels, deductibles, and customer service compare. For straight-talk info about discounts on auto insurance, get a no-obligation quote and compare Allstate.
Multiple Policy Discount

To take maximum advantage of every discount on auto insurance, consider combining policies with Allstate. If you also have property insurance with Allstate, our Multiple Policy Discount could lower your auto insurance premium up to 10%.
Discounts For Drivers

Premier & Premier Plus
If you have a clean driving record - no accidents and no violations - over the past 3 years, you're eligible for our Premier discount on your auto insurance.

If you've stayed accident- and violation-free for the past 5 years, our Premier Plus discount can save you even more.

Plus, Accident Forgiveness - part of our innovative Your Choice Auto® - can help keep your rates from going up just because of an accident. Even if it's your fault.

Defensive Driver
Taking a state-approved defensive driving course can drive down your auto insurance rates. Important note: court-mandated classes don't qualify for Defensive Driver discount.

Good Student
If you're younger than 25, single, and a full-time student, your good grades may qualify you for a discount on auto insurance. Proof that math skills really do pay off in the real world.

Senior Adult
If you're at least 65 and drive at least 25% of your car's annual mileage, we may be able to help cut the cost of your Personal Injury Protection (PIP) coverage.

55 and Retired
The name says it all: if you're at least 55 and retired, you could qualify for this discount on auto insurance.

Resident Student
If you carry coverage for a student under 21 who lives at a school more than 100 miles away from where the vehicle is garaged, you could save on your auto insurance premiums.

Car-Specific Discounts

Passive Restraint Systems
Cars equipped with safety features like airbags or factory-installed motorized seatbelts may qualify for a discount on auto insurance.

Anti-Lock Brakes
You can also help lower your premiums if your car has factory-installed ABS (all-wheel, anti-lock braking system).

Anti-Theft Devices
If an anti-theft device protects your car from thieves or vandals, this discount can help protect your wallet. (*This is only available in select states.)

New Car
Buying a brand-new, never-titled car may qualify for our New Car discount.

Farm or Ranch Vehicle
For full-time farmers or ranchers, a vehicle that's used exclusively for work on your property may qualify for this discount.

Helping You Identify the Best Coverage & Discounts for Your Lifestyle

At Allstate, we want to give you more than just an insurance quote. To help ensure our coverage recommendations include the greatest number of discounts available to you, we want to understand your situation, coverage expectations, budget, etc. The more we know...the better we can advise you.

And yes, there could be other insurance companies out there that may offer you discount rate coverage, but are you truly protected? And do you understand the coverage you're getting for that policy premium amount? That's why we can say dollar for dollar, nobody protects you like Allstate - coverage and value.

There are quite a number of determining factors which are taken into consideration when purchasing a car insurance policy. The rate of insurance that you will be getting from the insurance company is a calculated risk premium done in order to determine the potential risk that the vehicle to be insured carries in the course of the term of the policy bought. It is really essential to obtain ample information on how to get cheap car insurance quotes prior to visiting any insurance provider for auto insurance. Here are a few main elements insurance providers estimate prior to quoting relevant insurance premium.

Insurance group of the automobile Before purchasing any car, it is important to note what insurance group the car belongs, insurance is categorized from 1 to 20. A car in category 1 attracts cheap premiums as compared to the one in category 2, 3, 4 all the way to 20. Purchasing a car on low category insurance can help you save some pounds in insurance premium.

Car security Insurance is focused on the estimated risks, premiums are simply dependent on the degree of risk a car has during a given term of policy. Fitting your car with engine immobilizer, tracking devices and car alarm system affects positively the premium you liable to pay.

The automobile’s color Insurance company issue cheap insurance premiums for cars with light body colours, the logic behind this is that a bright coloured vehicle is more visible than that on dark coloured themes. At the same time, car premiums can be decreased by car reflectors.

The parking location of your vehicle Car parking area influences predicted insurance premiums, say for example a vehicle parked on the streets may possibly get more premium when compared with that parked on a driveway. For anyone to be deemed for great car premiums then the insurance provider will probably wish to know your vehicle is parked on risk-free location possibly in a secured garage.

Your age group and as well marriage status As insignificant as this may seem, a lot of insurance providers take this into account when estimating the risk factors. Car insurance for young drivers is often than not more expensive than for older car drivers. Marriage status additionally has an effect on car premiums as statistics present that married people are less at risk of accidents, alternatively single drivers appear to be reckless and susceptible to accidents. However, an individual on an age group categorized as high risk can qualify for cheap premiums if they show relevant recognized driving certificates.

Number of mileage in a year The number of miles you cover within a year affects your car premium rate, for instance an individual with high traveling tendencies is likely to pay more premium than on with low traveling tendencies.

Companies will find hiring a separate investor relations firm to be quite helpful. The services of professional investor relations assistance aid the companys venture in initial and direct public offerings.

Before hiring an investor relations firm, the company has to evaluate its ability to absorb the function or the capability of the underwriting firms to offer the service. The process must be undertaken before deciding to go public with the initial public offering. Investor relations firm has a key role in establishing and maintaining the relationships governing the financial community. That is why a lot of corporations seek the firms specialization in such matters. Moreover, companies can get the additional contacts in employing the services of an investor relations firm which can prove to be quite helpful in making the company spread its name.

The functions of a good investor relations firm are quite straightforward. It establishes a very viewable point of contact for various investors as well as for the media. It has the answers to all the questions and provides the necessary information. The firm achieves the goals set by the company through a combination of press releases, internet resources, webcasts and phone calls. The investor relations firm also serves by handing out brochures and other kinds of corporate collateral. This includes the presentation materials, fact sheets and earnings release, all of which are important prior to an offering.

The investor relations firm plays a vital role before an initial public offering is made. A good firm aims to attract investors by projecting an image of success and stability for the company. This is one of the reasons why the firm can really help in making an issue successful.

Virtually any investor relations firm comes with heavy roadshow support in its services and the company can also contribute with the composition of the financial reports to be subjected to prospective investors. Good firms arrange various meetings with potential investors as requested by the issuing company.

In the case of companies with a smaller need for capital, the demand for investor relations firms is not very common, especially with the direct public offerings. However, its services are just as important to a smaller company as it is for a company employing initial public offering to seek funds. There is no underwriter to ensure sales with a direct public offering and so, the corporation shoulders the full responsibility of making the issue a success.

Companies may find the processing of providing and selling public shares stressful and time-consuming. That is why it is best to approach an outside investor relations firm to help the company in marketing the issue and collaborating with the investors. Aside from making things easier, investor relation firms help a company look more professional to the investors. It creates an image of profitability and stability.

The issue can still be quite successful even without employing the services of an investor relations firm. However, there is a higher chance of success with one. The company can concentrate on other important matters by allowing the investor relations firm work on the issue.

Wade Entezar a sketch of stock holder relations.