Description: The following passage is talking about progressive insurance login. One will have an opportunity to select various policy options for Commercial insurance, RV insurance, boat or motorcycle and even home insurance policies from the various companies that Progressive provides.
Let’s look at calculating the cost of your auto insurance, when you go off to college, your parents will probably keep you under their policy or their plan, the first time you get your own insurance, you’ll probably do it with your parents’ insurance company.
It only makes sense, you’ve been a client of theirs for X number of years, so you’ll probably stay with it, when you look at insurance, your grades make a difference, you’ll get a 20 to 30 percent discount from some insurance companies.
You’re going to be saving a lot of budget that carries through college as well, the colleges will need to submit the transcripts, your grades need to be submitted to the insurance company for the insurance company to verify that you’re maintaining those grades.
But a 3.0 grade point average is a big discount for auto insurance, if you are a nonsmoker, you’re going to get a discount for auto insurance, those are two big things that can help save you money, especially if you’re paying for this out of your budget, you want to try to get the best coverage you can for the minimal amount of premium that we have to pay.
Let’s put in the zip code, it asks you for zip code because what where you live has a difference in the rates that you pay for insurance, I follow that out the hard way, when my daughter was in Duluth, my insurance company required the transcripts from Duluth that I could verify that she was on the honor roll.
They said that she’s going to school in Duluth, they charged more for Duluth than they do the Thief River Falls because it’s a larger city, it had greater chance of an accident, I didn’t realize that they would adjust that even though my car was insured and titled to me in Thief River Falls, they knew where she was driving it.
So it makes a difference, I’m going to put in the zip code, let’s do this with me because you’re going to need to calculate this and cross this out for your automobile, if you already know what it is and you think that you’re comfortable with that, that’s fine.
If you buy a different car, you have a newer car, you’re going to want to calculate what the cost is going to be, you want to understand how it works, let’s get a quote, when we set this up, I need you to be a little dishonest because I don’t want us to put in our current age with progressive, I want them to think that you’re older than you are because all we’re doing here is getting a quote.
To get an accurate quote I want us to assume that we are two to four years down the road, when you’re out on your own, you got your income, you got your new job, you got your car, I want it to calculate about what that scenario would look like.
You can put in your real name, but I want you to put in the school’s address because I don’t want you getting mail on this, I don’t want you to get mailed, so I put in 101 Knight Avenue, put in apartment number, city is TRF Minnesota.
Then you put in date of birth, now we’re going to have variety of different ages, some will be 21, some might be 22, that’s going to give us a good starting point, let’s start to get my quote, what kind of a vehicle do you have now? Do you want to do one that you’re going to insure or do you want to do a sample one? We’re going to do a sample one, let’s do mine, then let’s do my wife’s.
We’ll see how much it would cost you to insure, it’s about a $16,000 vehicle because that’s what the book price is on her Highlander, it’s going to be a truck SUV, so the first one is default, let’s leave that, the year is 2007, let’s go down and find 2007.
You go back and do your own vehicle later if you want, the make is a Toyota, let’s scroll down to Toyota, the model is a Highlander, I’m going to scroll down and find Highlander, then I’m going to add this vehicle, it shows me down here that this is the vehicle that you’re asking about.
I don’t want to add any more vehicles, so I’m going to scroll down and go to next, next I’m going to put in the body type, the body type is a four-door, six-cylinder, 4×4 SUV, that’s the most common type for this model, you choose to use it for personal or business.
If you use your vehicle for business, you will pay more insurance, we will choose for normal personal use, let’s use personal, in you own or lease, let’s say that we own and your are making payments, is this vehicle equipped with a snowplow? We choose no. Is it equipped with passive alarm? Let’s choose no.
Then let’s click next, do you need to add any additional vehicles? Let’ s choose no and click next, pick your gender, I’m a male, in marital status let’s choose single, in primary residence insurance let’s say that we rent, so we choose renters insurance.
The license is valid, do not put any real social security number, make one up, don’t care what it is, make one up, don’t put in a valid social security number, years insured is how long have you been insured, let’s say three or more years, because you’ve been insured on to your parents for a number of years.
In highest level of education, let’s say that you have a college degree, that could be a two-year or a four-year, have you moved in the last 60 days? Let’s choose no because I don’t want to put in that information, do you have any accidents? Choose no because you’re a safe driver.
Do you have any tickets? Choose no because you always drive the speed limit, do you have other claims that you filed on your vehicle in the last three years? Choose no because it gets into a lot of other detail, let’s go next, do you need to add any additional drivers? Choose no.
Here’s the policyholder, it gives us the little information of a synopsis, so we view the information, all looks good, let’s do next, in primary email address we put in a fake one, Joe at hotmail.com because we don’t want to get emails, are all members of your household covered by health insurance? We choose yes.
How many residents live in your house? Let’s say one, in progressive insurance history, do you have any other policies? Choose no, have you had auto insurance with progressive in the last 31 days? Choose no. Do you have insurance today? Choose yes.
How long have you been with the most recent auto insurance company? Let’s say that you’ve been there for three to five years, select a bodily injury, let’s choose thirty sixty, we can adjust that, then let’s go next, email address is not formatted properly, let’s change it to jdoe at hotmail.com.
Click next, here’s my next screen, I read through that, everything looks fine, I’m not going to enroll right now, let’s click next, you see the last question, how would you like to choose your coverage? We recommend a personalized package.
Let’s tell them to give us information on what they think we should have, here’s what my insurance coverage will cost me, on a monthly basis I will have a hundred and seventy one dollars and forty cents for my auto insurance, I’ve got full coverage.
In my budget if this is the vehicle, I’m going to be insuring that vehicle is worth about 16 grand, it’s going to cost me 171 bucks a month, I can pay the full amount of 953, that’s a six-month premium, so it’s going to cost me over $1,800 a year for auto insurance for that vehicle.
But if I want to do it on a budget 171 bucks a month, when you do your budget in your spreadsheet factor in whatever your cost for auto insurance is going be, if I have a loan on this, I need to take this, I don’t have a choice because the bank is going to say that you have to have full coverage.
Let’s look at what the costs are, here’s what it’s costing me for the liability portion, my bodily injury damage liability costs 311 bucks, uninsured and underinsured motorist costs 11 bucks, my PIP, the personal injury protection is going to pay up to 20 thousand if somebody is injured in my car or if I’m injured regardless of who’s at fault, that’s constantly hundred forty five bucks.
Then my comprehensive is 133 bucks, that’s worth taking a look at because that’s not terribly expensive compared to the rest, but look at my collision, with a $500 deductible my collision is costing me as much as my property damage plus my uninsured motorist, so collision is very expensive.
I’ve got some options down here for a rental car that I don’t have roadside assistance, I want more coverage than this, if I click this edit button, here are the rates, if I decide that I want to go to 100, 300, it’s going to cost me another 38 bucks.
If I want to go to 250, 500, it’s 83 bucks, that rate is one that fits your budget, so those are some decisions that you have to make along the way to decide if it fits your scenario, so you can choose, you can customize the kind of coverage as you want.
I’m going to close that, I’m going to go back and look at my other costs, let’s say that on my deductible I have a $500 deductible on my collision, I’m paying 353 bucks for that, if I do an addict on that, if I go with a higher deductible, if I go to a thousand dollar deductible which means that I have more skin in the game, I’m going to save 102 bucks on that coverage by having a little bit more assumption of risk.
If I go to the 2,000, I’ll have 166 bucks that can whack off that premium, so you can customize this, you fit it to meet your needs, now I would still recommend that you deal with an insurance agent, if you can sit down and talk to an agent, that’s probably the best way to handle it.
I’m using progressive because it’s a quick dirty way to get a quote, that’s going to be a realistic quote for you to give you a ballpark figure to use, so use the car that you anticipate driving or use the value of a car that you anticipate driving to get a realistic quote of what insurance is going to cost you.
Because you can’t be without it, you can decide which of the coverages you can be without and what you have to at least have in this top part with the liability, we want to get a rough idea here, so you can exit out of that.