Lee Romanov is the founder and president of The InsuranceHotline.com, since 1994.
InsuranceHotline.com provides a rate comparison service for auto, home, life and commercial insurance via the internet, now processing over 3,000 quotes a day, internationally.
Get Instant Auto & Car Insurance Quotes here.
Don’t hesitate moving to another insurance company for a better rate, there is NO risk in switching companies to save money. That’s why insurance companies lower their rates, to attract new business, so don’t be afraid to take advantage of it.
What if I have an accident? Insurance companies have to file their conditions for non-renewal or cancellation with the government. For example, if their policy is "3 tickets and 1 at-fault accident", it doesn’t matter if you’ve been with your insurance company for 20 years or 20 minutes. If you fit into this category, you’re out.
Tip: When shopping for a new insurance company ask if they have "Claims Protection." This protects you against your first accident. You should also ask about the company's cancellation policy in regards to multiple tickets or accidents.
Quoted one price, billed another: The only way that your rate should change after you've been quoted is if you failed to report a previous accident or ticket. So make sure you get your quote emailed, mailed or faxed to you before you proceed.
On renewal, will my rate skyrocket? Unlikely. Most rate increases occur because your insurance rep no longer deals with the insurance company they placed you with the previous year. They now have to place you with another insurance company that has higher rates. This being the case, all you need to do is call the original insurance company for the name of another brokerage that they deal with and get them to renew your insurance policy. But always confirm you’re with the best rated insurance company by doing a quote online.
I have renewal discounts: Renewal discounts are meaningless if another insurance company has a better rate for you. For example, if you have a home and auto discount, it's the bottom line that counts. The new insurance company, with a better rate, will have home and auto discounts too, which means a better rate for you.
But I’m a "Nine-Star Driver!" So what. You might be a nine-star driver paying a high rate with one company, or a six-star driver paying a low rate with another company. The bottom line is what really matters.
Is there a penalty if I cancel my current insurance early? If you cancel your insurance policy midterm, the insurance company will usually charge you with a penalty fee. But keep in mind that often times, the savings you’ll receive with your new insurance company will more than offset any cancellation penalties. If you cancel your policy during its renewal period, there is no penalty as long as you have notified the company “in writing” in time to cancel your policy.
I've been with my insurance company for long time: "Loyalty" discounts are easily overcome with a better rate from a new insurance company. And if the reason you are not changing is because your parents have dealt with this company forever, then it's time to cut the cord.
The insurance company with the best rates for your parents does not necessarily have the best rate for you.
My insurance rep says I have the best rate: You may have the best rate available to your rep, as their brokerage can't quote you from companies they don't represent. There are a number of insurance companies that offer lower rates and may be better suited for you. Find out for sure by going online to sites like InsuranceHotline.com.
- Related Videos
- Related Articles
- Ask / Related Q&A
- Insurance: Auto Insurance - Getting it Online!
- Choosing the Right Auto Insurance for You- How to Compare Auto Insurance Quotes?
- California Life Insurance Auto Home Car Insurance Quote California Ca
- Reducing Florida Auto Insurance Costs
- Tips for Getting the Best Auto Insurance Rate Possible
- Auto Insurance Accident in Colorado
- Auto Insurance Quote in Kentucky
- 10 Beneficial Tips for Obtaining the Appropriate Auto Insurance Policy




On Identity Theft: Resolution Thru Communication
By: Tony Francis | 24/11/2009Your sensitive identification details must always be kept safe and secure. The Federal Trade Commission reports an average of 10 million Americans suffer from the effects of identity theft in a year. The fact is, most of the thieves have a close contact with the victim. This means that there...
Discerning the Criminal Mind
By: Tony Francis | 24/11/2009What is at stake when somebody steals sensitive information and uses it for exploitation for financial gains? Suddenly, someone else is using your name and your credit card. What can they do? How fast can a thief move to take advantage of the time? How far can one go in dire...
Clearance 101: Solutions For Identity Theft
By: Tony Francis | 24/11/2009Identity theft can ruin your name in the eyes of credit companies. By law and in the midst of the society, you can become bankrupt in a few hours if you do not act now. The worst case can ensue if you are not suspecting enough and take no notice...
Compare Auto Insurance Quotes - Easiest Way To Make It Happen
By: Craig Realton | 24/11/2009This was when I decided to opt for options that I haven't tried yet before.I went ahead and decided to find a local agent in my area for quotes.
Franchise Brokers Help Businesses Grow
By: Robert Melillo | 24/11/2009Franchise brokers can help grow a franchise business. There are many entrepreneurs who create great business models that can be franchises. The fact that there are so many franchise opportunities means that in order to sell franchises many businesses need franchise brokers.
Business Opportunity Leads
By: Robert Melillo | 24/11/2009Business opportunity leads are typically purchased from franchise companies that are looking to sell more franchises. Business opportunity leads are basically leads of people that are looking to open a small business. These may vary from home-based business leads to food franchises and auto dealerships.
Why Biodiesel for your Car?-Avoiding the High Prics
By: hei55 | 24/11/2009Many people are searching for something else to fuel their car. The high prices, depleting sources and pollution of current fuel sources is something that is soon to be in the past with so many new alternative fuels. Biodiesel has already taken the market with a force.
Home Loans - Tips on Getting a Home Loan Quickly
By: Camila Machuca | 24/11/2009You have decided to buy a new home. However, there are several issues that bother you at the moment and the most important one is finance. With markets full of choices for home loans, there are several things to be considered while selecting a particular home loan plan. Consider these...
Don’t Let the Fear of Higher Insurance Rates Put the Brakes on your Dreams!
By: Lee Romanov | 08/10/2007 | InsuranceIn your wildest, most fantastic dreams, could you ever have imagined that what you’re currently paying for car insurance could land you a new car? Read on.
Claims & your Insurance Rate
By: Lee Romanov | 07/10/2007 | InsuranceAny reported accident, even if there was no damage at all, stays on your insurance record for six long years, seriously impacting your insurance rates.
Home Buyers Essential Guide to Home Insurance
By: Lee Romanov | 07/10/2007 | InsuranceBuying a new home can be an exciting and stressful experience. The problem is that many of us don’t truly understand how a homeowners insurance policy works and exactly what our insurance policy will cover should a disaster strike. Rest assured, the home buyers essential guide will outline the facts you need to know about insuring your home.
Changing Insurance Companies
By: Lee Romanov | 06/10/2007 | FinanceDon’t hesitate moving to another insurance company for a better rate, there is NO risk in switching companies to save money. That’s why insurance companies lower their rates, to attract new business, so don’t be afraid to take advantage of it.
Showdown at Car Insurance Corral!
By: Lee Romanov | 05/10/2007 | FinanceSo, what’s all the fuss about? Is it really worth the time and effort to prospect for the best car insurance rate? Or is it like digging for fool’s gold?
Can I Borrow your Car…insurance?
By: Lee Romanov | 05/10/2007 | FinanceIn our continuing quest to bring you sobering and thought-provoking information about driving and insurance rates, we conducted a survey of more than 10,000 people, asking this very important question:
Beware – Vacationing May Increase Car Insurance Rates
By: Lee Romanov | 18/09/2007 | InsuranceAuto insurance companies are consistently searching for tickets and suspensions by performing background checks and investigations. Once your auto insurance company finds a new ticket, be prepared for a sharp increase in your rates.
Planes, Trains and Automobiles
By: Lee Romanov | 18/09/2007 | InsuranceWe all know that we need tickets for planes and trains, but do we need them for automobiles?