• Post last modified:October 5, 2020
  • Post category:Insurance

Yesterday we began the discussion on shopping around for insurance coverage, because with the increased amount of data that insurance companies now have, it’s never been easier to qualify for discounts depending on each individual’s situation.

For example, if you’re a part of a carpool to work, then you may be eligible for a discount on your CT auto insurance because you’re contributing to safer driving conditions by eliminating cars from the road. Oh and you’re also helping out the environment- it’s a win-win!  Or take for instance that new roof you hadinstalled last year.  That’s right- it qualifies for a discount on your CT home insurance.  And what if you’ve justrecently moved to a gated community? Yup, that’s a discount as well. 

The reason for all of this is because with the data that is now readily available, insurance companies have proof that these aforementioned factors are contributors to less risk, and thus cheaper premiums.  In addition, technology is also helping out both the general public and the insurance companies.  For example, you’ve probably heard us mention the IntelliDrive device, which is installed in your car and gathers driving information for your insurance company and allows them to tailor an auto policy toward your driving habits.  Now clearly this is more beneficial for drivers who don’t speed, drive cautiously, and actually don’t drive as much as others.  If you’re aspeed demon and are on the road all the time, then this probably isn’t the itemfor you. 

Also remember that technology can significantly enhance your home’s safety, like a security system.  Now they can be controlled froma smart phone, so if you leave the house in a rush and forget to set the alarm,don’t worry because you can secure your house from anywhere.

It’s really the best time for you, the policyholder, to receive the best deal on a policy today.  Remember though, while the abundanceof data can often help you, it may hurt you as well.  For example, if you live in a more urban area where there’s more of a chance of an accident (like the data suggests), then you may have a higher CT insurance premium than if you lived in a more rural area- just some food for thought.

Have a great weekend!