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Progressive drives home solid earnings

Posted Jul 10th 2009 12:00PM by Michael Fowlkes (RSS feed)
Filed under: Earnings reports, Good news, Management, Competitive strategy

Share of insurance company Progressive (NYSE: PGR) are moving higher this morning following better-than-expected numbers for its second quarter.

Going into this mornings earnings announcement analysts had been looking to see the nation's fourth largest insurer post earnings of 36 cents per share, but the company surprised to the upside with an actual 37 cents a share for its most recent quarter.

Continue reading Progressive drives home solid earnings

Need car insurance? Check out some ways to save money before renewing your policy

Posted Mar 20th 2007 1:48PM by Kevin Shult (RSS feed)
Filed under: Consumer experience, Columns, Personal finance

My insurance agent called me today and said my policy was up for renewal. She wanted to update my contact information and see if there were any discounts available on my policy. The call was from my agent, who happens to be in the family, and she actually cares to see me save money. However, some insurance agents might not be so kind, as your insurance premium usually impacts their commission rate. The tips she provided me might not work with every insurance company, and each discount rate varies, but knowing your options always helps.
  • Before you actually get a car, check the insurance rate. Many people believe that insurance for giant gas guzzling SUVs are expensive and that an old Yugo would be cheaper. Some companies increase the liability based on the damage they could inflict on a car, how often they are stolen, and how much damage the car can withstand in an accident. The Kia Spectra, starting at $13,475, is considered one of the most expensive cars for collision claims, while the GMC Yukon (NYSE:GM), starting at $35,065, was one of the least expensive for collision claims.
  • Take defensive driving courses. By spending seven hours and around $50 once every three years you could save 10% a year, equating to hundreds of dollars, off your base insurance rate.
  • Check your credit. Having a good credit score (paying bills on time, a good debt-to-credit ratio, etc.) can actually lower your insurance premiums.
  • Know that your age and sex will affect your insurance rates. Everyone is surcharged until the age of 29, men more than women, because of their "high risk" status. By the time you turn 50, insurance companies give you a discount. This discount lasts until your 70's, when many companies tack that "high risk" surcharge back on again.

Continue reading Need car insurance? Check out some ways to save money before renewing your policy

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Last updated: November 24, 2009: 08:42 AM

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