Just as a company pays dividends on its stock when it makes a profit, a mutual insurer pays a dividend when it makes money. As with a stock, the dividend is only paid out when the company’s leadership decides to make the payment.
Vehicle owners should remember that there is only one car insurance figure that really matters: the amount you pay for auto insurance each month or year. You should be concentrating on what you pay for insurance and not what other people are paying.
Different insurance companies gave the same driver quotes that varied by several hundred dollars for the exact same insurance, the study found. The lowest quote for insurance uncovered by the survey was often less than half the amount of the highest quote.
The interesting thing is that the huge number of self-driving cars on the road could greatly lower auto insurance rates in the future. The reason for that is that accident rates for such vehicles will be far lower than accident rates for human beings. Computer programs, it seems, are better and safer drivers than people.
An insurance claim is not the end of the world, but it can cost you a small fortune in the form of higher premiums. That means you need to be very careful how and when you file insurance claims.
When you’re dealing with auto insurance, what you don’t know can cost you a fortune. Unfortunately, insurance companies and agents are not always willing to tell you these things, because your ignorance can make them more money.
The real key to Maine’s low auto insurance rates is the state’s laws. The major law that keeps auto insurance costs low in Maine is one limiting liability, or the amount that motorists and insurance companies have to pay out in case of an accident. Maine is actually one of the few states that impose serious limits on accident liability.