Are You A Star?
Here's how brightly your Star shines according to your insurance company.
Insurance companies use "Star Ratings" to rank your driving record in determining what to charge you for your car insurance.
It may sound impressive if you hear that you are a 3 Star driver, until they say that your rates would be a lot lower if you were a 10 Star driver.
How brightly your Star shines is determined by the number of years of you are free of any accidents or tickets and the length of time you have been licensed.
Here's how the categories break down. A driving record of 0 usually means that you are either a new driver or have had an at-fault accident within the last year. A driving record of 1 means you have now had one year of driving history without an accident. And so on. Many companies max out at a 6 Star rating, but there are a few insurance companies out there which offer preferred rates for up to 10 Star drivers. This means they have been licensed over ten years without an at-fault accident.
The more Stars, the lower the rate and the more attractive you are to insurance companies.
When do you report an accident, when don't you, and what are the consequences? There is a lot you should know about this:
1) When should you report an accident under $1,000?
2) When should you report an accident over $1,000?
3) What about collisions that occur on private property, like parking lots?
4) When does your insurance company find out about accidents?
For the answers, just click here