There are many factors that have an effect on your auto insurance premiums. Each factor has been determined to effect the likelihood of having an insurance claim. The larger the probability of a loss, the more an individual will pay for auto insurance coverage.
We have elaborated upon several of the risk factors below, but you'll find quite a few others, such as miles driven every year, your sex, purpose for utilizing the vehicle (traveling to work, utilizing for your job, enjoyment only), etc.
* Gender
Females have been shown to be better drivers, statistically. That trend is changing as more women are driving greater distances.
* Driving Record
A good driving record will have a major impact on the cost of your auto insurance premiums.
* Automobile Accident Incidents
A history of automobile accidents will increase your car insurance premiums.
* Married or Single
Married individuals will typically pay less than an unmarried individual with a similar driving record.
* Age
If you are under 25, you will normally pay more for car insurance than an older person.
* Where You Live
The location of your residence can have a large impact on the price of your auto insurance.
* Automobile Type
An economical automobile will certainly cost less to insure compared to a status symbol SUV which you might feel you have to drive.
* Education
College graduates may pay less for insurance coverage than those that do not have a college degree.
* Your Credit Score
Many auto insurance companies will use your credit score to determine the cost of your premiums. Individuals with a lower credit score may pay more for coverage than someone with a higher credit score.
* Type of Employment
Insurers have statistically found a relationship between your occupation and risk associated with an automobile accident. For example, a package delivery person is more likely a larger risk compared to the man or woman seated at their desk all day.
* Years of Driving Experience
The longer you have driven, may mean you are a better driver.
* Traveling mileage to employment
The shorter distance you drive, the lower your premiums should be.
* Total Miles Driven/Year
If you drive more miles per year, your premiums may cost more than someone with a similar driving record that drives less.
* Number of Vehicles Insured
Most auto insurance companies will provide a discount for multiple vehicles being insured.
* Theft protection devices
Vehicles that have an alarm system and/or GPS tracking capabilities normally cost less to insure.
One of the easiest ways to find the lowest auto insurance prices is to compare prices from as many providers as possible. Auto insurance companies may use other factors not mentioned above to determine the price of premiums. You should get quotes from at least three auto insurance companies to see which offers the lowest rates.
