Auto Insurance & Your Zip Code: How Does Your Home Address Impact Your Auto Insurance Rates?
I own two homes. One residence is in a zip code that rates my auto insurance significantly higher than the other residence. I have been asked to submit a "Proof of garaging address form". What are the determining factors insurance companies use to establish one address as the primary address versus the other? – Jim
Insurance companies differ in the proof they require for your stated residence. Some will ask only for the address on your driver’s license, while others may require the submission of a few months’ utility bills to be sure you live where you say you live. The law is beginning to change (depending on your state), and some states are prohibiting insurance companies from using zip codes to determine their rates. There, the companies are using mainly your driving record. That is the case in California. Check your state’s Department of Insurance and find out the status of the law and if insurance companies are still allowed to set rates by your zip code.
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