If you’re looking for ways to lower your car insurance costs, comparing rates from multiple providers seems like an obvious choice. But there’s more to your actual insurance rate than most people realize. Yes, you have to answer a few personal questions to obtain an accurate quote. Most people find this process a nuisance but all this information is being used to get a more precise insurance estimate. So let’s cover several factors that affect insurance rates so next time you compare auto insurance quotes, you know what may or may not affect your rate.
Usually, the more it costs the insurance company to replace the car, the higher the insurance will be. So that means the more expensive the vehicle, the more likely you will have to pay more for auto insurance.
The amount of coverage selected will have a great impact on insurance pricing. Adding full coverage insurance (comprehensive and collision deductibles) alone can cause the rate to potentially double.
Typically, urban neighborhoods have higher auto insurance rates than rural communities. This has a lot to do with the greater chance of loss statistically in urban areas. Where you drive will also play a factor. The longer your commute, the more prone you are to a loss.
Being an insured driver under the age of 25 will most likely cost you more. Statistics have shown that drivers 25 and under are at a greater risk of being involved in an accident. Being a female driver can potentially save you more as well as being a married driver. On a side note, don’t get married just to save on auto insurance.
A huge factor in determining your auto insurance rate would be your previous driving history. A ticket or two may not affect everyone the same depending on the insurance company, but expect to pay more on usual for any blemish.
Most companies have switched over to credit based insurance scoring. This means, the better your credit, the more you save.
As you see, there are many factors involved in the final price that you will pay for insurance. Each company has it’s own set of rules and criteria so no two prices are generally the same. The great news is QuoteAgents.com helps you compare auto insurance rates from multiple companies with one simple form. Start saving money on auto insurance today.