by gpoli0 » Fri May 14, 2010 06:31 am
Hi;
I missed a monthly payment of $40 on my monthly auto insurance payment last month now they are charging me $100 rate to renew the policy for a 10-year old car. This is the first time it happened to me. I have been with this company for a year and previous auto company was 7+ years switched due to cheaper. Agent cautioned its pretty much same price.
Can anyone advice what company is best for my situation for cheaper coverage will be great help!!.
I missed a monthly payment of $40 on my monthly auto insurance payment last month now they are charging me $100 rate to renew the policy for a 10-year old car. This is the first time it happened to me. I have been with this company for a year and previous auto company was 7+ years switched due to cheaper. Agent cautioned its pretty much same price.
Can anyone advice what company is best for my situation for cheaper coverage will be great help!!.
Posted: Sat May 15, 2010 12:35 pm Post Subject:
No one can tell you what company would be cheaper, we have no idea about your risk. The fact that it's a ten year old vehicle doesn't really tell anyone anything. We still have no idea or your risk, or coverages.
But let me ask you something...you missed a 40.00 (per month) payment...so they want you to pay 100 to reinstate it...is that 40 for the month you missed, 40 for this month, and 20 reinstatement fee, or 20 for a partial month, or 100 plus your back premium? If they are reinstating your policy without a lapse in coverage (I'm betting this is the case)...then why do you think this is out of line?
Or is the 100 bucks for a new policy period, which you'd most likely have to pay 2months premium to get it started??
I guess I don't see the 'real' issue here...other than you didn't pay your bill.
Posted: Mon May 17, 2010 02:31 pm Post Subject:
Shop around to find the best deal on Insurance. Knowing what you are paying for beyond the payment amount today would be a start!
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