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There are typically three levels of insurance rates: preferred, standard, high risk.
I don't see you qualifying for preferred rates for at least a year but whether you are put in standard or high risk is up to the insurance company and will depend on whatever documentation you can provide that show no accidents or tickets in Asia for the last 5 years.
When you get back to the US I suggest getting quotes through an independent agent as well as with a couple of the direct writers before you go out and buy a car. Get your eligibility determined ahead of time rather than waiting until you buy the car and have to scramble for the insurance.
There are typically three levels of insurance rates: preferred, standard, high risk.
I don't see you qualifying for preferred rates for at least a year but whether you are put in standard or high risk is up to the insurance company and will depend on whatever documentation you can provide that show no accidents or tickets in Asia for the last 5 years.
When you get back to the US I suggest getting quotes through an independent agent as well as with a couple of the direct writers before you go out and buy a car. Get your eligibility determined ahead of time rather than waiting until you buy the car and have to scramble for the insurance.
Thanks for the response, adjusterjack.
I've not had a ticket nor accident in Asia for 18 years (and no tickets in the US since probably 1998).
But I cannot prove any of this.
I will need to buy a car, regardless. I am going to try to buy a Toyota Carolla (or something similar) that is about 3 years old. I can use a car loan or just pay cash. I have not decided, but If I pay cash then I only need liability insurance, correct?
Perhaps this is worth noting: I am still a resident of WA state. I vote, get called to jury duty occasionally, have a valid WA state DL and drive my parent's car when I visit every year.
Perhaps I should not even say I was in Asia.
Could I just say I've been driving my parent's car, even though I'm in my 40s and it may sound odd?
Related to your comment abou going through an "independent agent" I presume this is differnet than calling up Geico or Progressive on the phone for a quote.
I've not had a ticket nor accident in Asia for 18 years (and no tickets in the US since probably 1998).
But I cannot prove any of this.
I will need to buy a car, regardless. I am going to try to buy a Toyota Carolla (or something similar) that is about 3 years old. I can use a car loan or just pay cash. I have not decided, but If I pay cash then I only need liability insurance, correct?
Perhaps this is worth noting: I am still a resident of WA state. I vote, get called to jury duty occasionally, have a valid WA state DL and drive my parent's car when I visit every year.
Perhaps I should not even say I was in Asia.
Could I just say I've been driving my parent's car, even though I'm in my 40s and it may sound odd?
Related to your comment abou going through an "independent agent" I presume this is differnet than calling up Geico or Progressive on the phone for a quote.
Yes, independent insurance agents can be found in most communities. Often, they have a building and may call themselves something like "Smith & Jones Insurance". The difference is that independent insurance agent sell policies on behalf of multiple companies. From a legal standpoint, an independent insurance agent works for YOU. This is different than an agent for a single company like Allstate or State Farm who's legal duty is not to YOU but to the company they work for.
In terms of product, most agents will have a company of exceptional quality that they market to people like me who are more interested in getting good value out of insurance than simply paying the fewest dollars for a policy. Than they had mid range companies with lower premiums that are not quite as high quality. Than the agent will generally have a company that provides insurance to high risk individuals who may only be able to obtain insurance through a special risk or high risk program.
A good agent explains different types of auto insurance to customers. You may learn that you really need uninsured motorist and underinsured motorist coverage as well as liability coverage. The agent will move customers from high risk companies (with high premiums) to preferred risk companies as they develop a good driving record and good credit score.
All these people who insist on buying insurance online are missing out on this. They may think they have something just as good, but they do not.
Isn't there some sort of authority or agency that regulates drivers that can print you something that says you have no tickets or accidents on record?
Quote:
Originally Posted by Returning2USA
I will need to buy a car, regardless. I am going to try to buy a Toyota Carolla (or something similar) that is about 3 years old. I can use a car loan or just pay cash. I have not decided, but If I pay cash then I only need liability insurance, correct?
Correct. You have to decide how much risk you want to assume. I routinely buy cars for under $5000 and have bought only liability insurance for quite a number of years now. But I have plenty of money in the bank to replace a car or have it repaired.
Quote:
Originally Posted by Returning2USA
Perhaps this is worth noting: I am still a resident of WA state. I vote, get called to jury duty occasionally, have a valid WA state DL and drive my parent's car when I visit every year.
Perhaps I should not even say I was in Asia.
Could I just say I've been driving my parent's car, even though I'm in my 40s and it may sound odd
Never lie to an insurance company, not by commission, not by omission. The consequences are disastrous because the insurance company often finds out when there is a claim and has the opportunity to deny the claim and rescind the policy. That's often a financial nightmare that can put you in the poorhouse.
There are typically three levels of insurance rates: preferred, standard, high risk.
I don't see you qualifying for preferred rates for at least a year but whether you are put in standard or high risk is up to the insurance company and will depend on whatever documentation you can provide that show no accidents or tickets in Asia for the last 5 years.
When you get back to the US I suggest getting quotes through an independent agent as well as with a couple of the direct writers before you go out and buy a car. Get your eligibility determined ahead of time rather than waiting until you buy the car and have to scramble for the insurance.
Hey, Adjusterjack---
Thanks for all the great information you provide!
One more question for you---how can one determine if they're preferred, standard, or high risk? Is there some way to look it up? Thx!
how can one determine if they're preferred, standard, or high risk? Is there some way to look it up?
No.
That information is kept in quaint and curious volumes of forgotten lore, jealously guarded by insurance alchemists in secret impenetrable rooms that can only be accessed via the infinite probability drive.
Isn't there some sort of authority or agency that regulates drivers that can print you something that says you have no tickets or accidents on record?
No, there is nothing like this.
I drive a motorbike with no licence and no insurance.
Quote:
Never lie to an insurance company, not by commission, not by omission. The consequences are disastrous because the insurance company often finds out when there is a claim and has the opportunity to deny the claim and rescind the policy. That's often a financial nightmare that can put you in the poorhouse.
Wise words.
Here is a very ignorant question.
If I contact an independent agent or a company like Geico or Progressive will they ask me who I am currently insured with?
I drive a motorbike with no licence and no insurance.
Wise words.
Here is a very ignorant question.
If I contact an independent agent or a company like Geico or Progressive will they ask me who I am currently insured with?
Or, who I was previously insured with?
Thanks again, adjusterjack.
YES, all companies will ask who you are currently with and they can actually pull this information by your drivers license. There is no way around it. Since you have an active U.S. license it will show that you have been uninsured and underwriters will want to know why. Being out of the U.S. is a valid reason to not have insurance; however, some carriers will not accept you as a risk due to that. I'm not sure about Geico, but I do know that Progressive will insure you. They pretty much insure anyone, but they will rate you higher for it.
I also suggest finding and independent insurance agent in your area that can quote you with several carriers to find you the best price.
YES, all companies will ask who you are currently with and they can actually pull this information by your drivers license. There is no way around it. Since you have an active U.S. license it will show that you have been uninsured and underwriters will want to know why. Being out of the U.S. is a valid reason to not have insurance; however, some carriers will not accept you as a risk due to that. I'm not sure about Geico, but I do know that Progressive will insure you. They pretty much insure anyone, but they will rate you higher for it.
I also suggest finding and independent insurance agent in your area that can quote you with several carriers to find you the best price.
Thank you CGab,
Understood.
I'll follow your advice (and ajusterjack's) and contact Independent Agents and call up Progressive and GEICO.
That's the way it is.
I have plenty of money saved.
I just try to get the best deal possible.
Cheers.
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