If you've noticed your insurance premium seems high, it's important to understand the factors that contribute to insurance costs, especially within the context of Hive memberships. Here's why your insurance might be more expensive:
1. Rideshare Endorsement: Your policy includes a rideshare endorsement to cover you both personally and while driving for rideshare services. This added protection can increase the cost.
2. Comprehensive Coverage: You're provided with comprehensive coverage, which is more extensive than basic liability insurance. It covers a wide range of potential incidents, offering you greater protection but at a higher cost.
3. Personalized Rates: Insurance premiums are tailored based on several personal factors, including your driving record, age, location, and credit score. These factors help determine the risk level and, consequently, the cost of your insurance. If there have been changes to any of these factors, such as an improved driving record or a change in address, contacting Hive could help reassess your premium.
We're here to ensure you have the coverage you need at the best possible rate.