Top Factors That Affect Car Insurance

Check out the most influential factors for auto insurance rates and use our website to get free car insurance quotes online.

  1. # images (7)Gender and Age
    Young men usually experience higher rates than young women as statistically, more male teenagers are involved in accidents than female teenagers. However, older men generally have better rates than older women.
  2. Marital Status
    Married people tend to have fewer accidents than single people; therefore, getting married (especially for men) can significantly lower your insurance costs.
  3. Where You Live
    Because most traffic accidents occur close to home, the area you live in greatly affects your rates. More densely populated neighborhoods with more cars mean you are at a higher risk of accidents, theft, and collisions with injuries.
  4. Credit Score
    Many insurance companies take your credit score into account when determining your rate. Generally, lower scores mean higher insurance premiums.
  5. Profession
    Auto insurance companies may also make correlations between a person’s risk of accident and their profession, and they can adjust your premium accordingly if they think you’re more likely to get in an accident. If your job involves spending time on the road, you will pay more
  6. Safety Rating
    Owning a vehicle with a high safety rating means there is a lower chance of needing to pay for your or your passengers’ medical bills – therefore, your rate will be lower.
  7. Vehicle Size
    Larger cars are generally safer than smaller cars in an accident. Therefore, many larger cars with good safety ratings have lower premiums than smaller cars with otherwise similar ratings.
  8. Age of the Car
    An older car is more likely to be “totaled” in an accident. This is because the cost of significant repairs needed for an older car can often be higher than the vehicle’s entire worth.
  9. Likelihood of Theft
    Some cars are more attractive to thieves than others, and a car model that hits the top 10 most stolen list is likely to have higher rates than one that’s not a likely target.
  10. Driving History
    Having an history of accidents, receiving any tickets, or making previous claims, the insurance company has learned that you’re more likely to make another claim. Also, if your driving record is bad enough, some insurance companies will refuse to give you insurance at all.

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