Tips to Better Understand Car Insurance and Save Money

  • Understand
  • 02/11/2017
Tips to Better Understand Car Insurance and Save Money
It's difficult to tell what goes into a car insurance quote: Is it my age? That accident from a few years ago? The color of my convertible?

The Zebra, a car insurance comparison site, is out to change that. It just introduced a new insurability score" for free that will help consumers understand where they stand in the eyes of a car insurance company and where they have room for improvement. Scores range from 400 to 950, with the most options and best rates going to those on the higher end.

The Zebra breaks down factors that work in a consumer's favor (i.e. continuous insurance coverage, paying premiums on time), what they can improve (working on increasing their credit score) and factors outside their control (when a previous car accident will disappear from their record). The score" takes into account:

1. A person's driving record

2. Credit history

3. Insurance history

4. Vehicle usage

5. As well as personal characteristics like education level, marital status, and age



A new survey from The Zebra showed that:

Although 81% say they have the car insurance coverage they need, most don't know coverage types. Nearly all 99% were unable to accurately identify 10 basic car insurance terms such as "collision coverage" or "deductible.

Most people 81% want to lower their car insurance rates and 41% say they want to understand what impact their rates better

45% say they don't know what to do to lower their car insurance rates, and 36% think there is nothing they can do about it.

Joshua Dziabiak is an American entrepreneur and business executive. He is Chief Operating Officer at The Zebra, leveraging vast entrepreneurial experience to shake up the car insurance industry. At age 15, Josh founded his first company, MediaCatch, designing and hosting websites for local businesses, and sold it for an impressive amount before he turned 18. He later founded ShowClix, an online event ticketing Software Company, which he grew to over 9,000 clients and over $100 million in annual revenues. He joined The Zebra as co-founder and COO in 2012. Josh was named to Forbes 30 Under 30 List in 2017, received the 2014 Empact100 Award at the United Nations, was awarded the 2010-2011 Pennsylvania Future Business Leaders of America Businessperson of the Year Award, and was named to Inc. Magazines 30 Under 30 list in 2010.

This interview is sponsored by The Zebra.

  
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