US: insurers don’t actually care about positive driving records image

Nailing the best possible car insurance policy rate might seem easy if you have a spotless driving record – but the truth is, says a recent research report, there are also other factors at play.

For example, the best insurance price might head your way if you pay your bills, with Consumer Reports concluding premiums are actually based more on the firm’s own interpretation of your credit score than accident rates or even driving under the influence. As always, Consumer Reports made a thorough analysis, sifting through a t least two billion price quotations across 700 companies in the US. Just an example: a single driver in Florida with a spotless record and poor credit was booked $1,552 more on average than drivers that had a good credit – even though they were convicted of drunk driving. “No consumer would suspect their unpaid bills would have a greater impact than a DWI on how much they pay for car insurance,” comments Margot Gilman, the money content development team leader at Consumer Reports. “Our investigation shows they need to think again. We’re putting consumers on alert that they need to shop around.”

More so, even tips to save money recommended by the insurance company itself have not worked great – student driver training brought an average reduction of $63 per year and bundling home and car insurance saved another $97 a year. Laura Adams, senior analyst at says the best tip for saving is to shop around and get quotations from different companies. And unlike health insurance, the car insurance is not bound to a specific date in terms of switching – if a previous policy was prepaid, the company will have to reimburse the remaining amount.