Auto insurance is an all-important safety net for people of any age to have when getting behind the wheel. There is coverage available throughout the United States, just a few clicks away online or even by phone call. One of the insurers leading the way is Geico, making sure that your insurance policy is best set to accommodate your vehicle and how much time you and your loved ones spend on the road. Geico’s coverage is able throughout the U.S., but your ZIP code could be impacting how much you spend on your monthly premiums.
How does a ZIP code impact car insurance costs?
If you have any existing insurance policy, it’s important to change your address in the event you move to make sure your rates are adapted to where you live, drive, or head to the doctor. Head to Geico, and type in Geico change address to edit your portal at any time. You can also accommodate this through your insurance agent if you do not have immediate access to your computer or Geico mobile app.
Crime rates and traffic congestion are identified by your ZIP code, determining the cost of your insurance products as insurers deem the risk of you being involved in a car accident. This also helps an insurance company figure out the potential for theft of a vehicle. Auto insurance rates are also impacted by particular vehicle information, allowing insurers to get an understanding of what may impact the cost of comprehensive coverage.
What about where and when I drive?
When exploring auto insurance through Geico, or other reputable insurance providers such as Freeway Insurance you may not even be thinking about the possibilities of claims based on where you parked your vehicle. This is actually a factor in figuring out the cost of auto insurance. Locations have pros and cons. Insurers will look at the risk of an automobile being stolen or damaged just by being parked. Parking garages and home garages are among the safest places for a car to be. Auto insurance companies may take issue with parking newer vehicles on the road or in a driveway. This leaves a car exposed to the elements or the potential for theft.
Insurance agencies may also suggest purchasing uninsured motorist coverage through Geico to add on to their current policy to protect against hit-and-runs. This coverage can benefit you in the event that your car was rear-ended while it was parked out on the street. Insurance companies will ask where you park when working out your auto insurance quotes. Insurance rates are heavily impacted by making sure you are accommodating the safety of the vehicle, as well as the safe operation by you and all those insured.
What happens if I forgot to change my address?
Your address for any insurance policy needs to be your physical one. Using a different address is considered a form of insurance fraud, according to the National Association of Insurance Commissioners. Depending on where you are driving in the United States, you can expect significant fines for auto insurance fraud. Automobile claim fraud accounts for $5.6-$7.7 billion in expenses for the auto insurance industry. While the punishment is usually levied as a fine, some states could punish fraud cases with incarceration.
A change of address for auto insurance and your driver’s license and registration is required within 30 days of moving. If you move out of state, you need all of the DMV requirements to be met including an updated license and vehicle registration. While your premium rate may go up, several factors will determine a rate adjustment along with driving records and laws. However, there are other discounts out there, including paperless and safe driving, that can help you better accommodate your current coverage.
