Determining the Auto Insurance Premium Tips

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How does my driving record affect the amount of my car insurance premium?

Your Driving Record and Car Insurance Premium Costs

There are factors you CAN change that affect your car insurance premium costs, and your driving record is one of them. Your auto insurance rate is largely determined by the number of automobile accidents and moving violations that appear on your driving record.

While time and consecutive months of violation-free driving are the best way to decrease your car insurance rates for the long run, you can also take online defensive driving courses to dismiss traffic violations and earn a discount on your car insurance.

   
How does my gender affect the amount of my car insurance premium?

Gender and Car Insurance Premium Costs

There are factors that affect your car insurance premium costs that you simply cannot change or affect. Gender is one of them. (You actually can change your gender, but doing so for cheap car insurance rates is rather drastic.)

Statisticians and actuaries can show years of evidence that suggest emphatically that women make safer drivers. If you are a man, your car insurance premiums will be more expensive relative to the car insurance premiums of your female counterparts.

   
How does where I live affect the amount of my car insurance premium?

Geography and Car Insurance Premium Costs

There are factors you CAN change that affect your car insurance premium costs, and where you live is one of them. Sometimes moving two blocks away or to a different zip code can drive your car insurance premiums up or down.

Statistically speaking, drivers who live in rural areas are far less likely to have an automobile accident or to have their car stolen, and therefore their auto insurance premiums will be lower.

   
How does my age affect the amount of my car insurance premium?

Age and Car Insurance Premium Costs

There are factors that affect your car insurance premium costs that you cannot change or affect. Age is one of them.

The highest rate of fatal car crashes among licensed drivers is drivers age 15-20, closely followed by drivers over age 70. If you fall into one of these two age categories, your car insurance premiums will be higher since history tells us these two groups are most likely to have accidents.

If you fall between the ages of 20 - 70, age will be less of a factor in your car insurance premium costs. Doing research and shopping for car insurance online will help you find cheap auto insurance premiums for your particular age.

   
What factors affect the amount of my car insurance premium?

Factors that Affect Car Insurance Premium Costs

Your car insurance premium costs are affected by two types of factors: those you can change, and those you cannot. Your geographic location and your driving record are two examples of factors you can change. Both take considerable time to affect.

Age, gender, and marital status are examples of factors you cannot change. (You can change your sex and marital status, but it is rather drastic to do so for car insurance costs savings.) Doing research and shopping for car insurance online will help you find cheap auto insurance premiums for your particular set of factors.

   
How does my marital status affect the amount of my car insurance premium?

Marital Status and Car Insurance Premium Costs

There are factors that affect your car insurance premium costs that you simply cannot change or affect. Marital status is one of them. (Actually, you can change this one, but it's a rather drastic step to take just to save money on your car insurance.)

Married drivers, statistically speaking, are safer drivers than single people, and as a result, their car insurance premiums relative to single people are lower.

   

Auto Insurance Specialists Tip

If you are needing car insurance and want to know what things about your car will affect your insurance premiums you may be surprised to learn just how many factors affect the rate of your premiums. Your premium can be a little higher depending on the type of vehicle you have because some insurance companies assign an amount of risk on the model and make of the car. Additionally, the gender and age of the driver, her/his history in driving, the amounts of vehicles in the area, the insurance market, etc. are all things that affect car insurance premiums. For this reason, it is good to invest in a good auto insurance specialist.

The cost of repairing a vehicle and the safety equipment it has is also taken into account when setting a premium rate. Determining how accessible a car is to thieves is important in setting premiums so a cars design features and facilities are very important.

The more area the car covers, the more likely it is going to get damaged in a car accident so the distance a care covers affects premium rates.

   

Why Does My Insurance Rate Go Up?

Sometimes, even if you haven't gotten into an accident and you haven't gotten a ticket and you've been a really good driver, you open your renewal notice to find your monthly payment is a little higher than you are used to. You can call your insurance company and ask them about it, but you'll find that every once in a while a company institutes a company-wide auto insurance premium increase. You might not like knowing your insurance premium went up even though you didn't do anything wrong, but prices go up on everything eventually and auto insurance is no different. First look at your coverages. Are there any that can be changed or lowered without putting yourself at risk? If you raise your deductible, will you be able to pay it in the event you have an accident and need to use your comprehensive or collision coverages? If you can't afford your deductibles and lowering your liability coverage will put your family at risk by being under-insured, that means your last option is to shop around for lower rates.

Sometimes, even if you shop around your raised rate might still be lower than quotes from other companies. If that is the case, be happy you have the lowest rate and don't worry about the increase. Just keep an eye out for lower rates and better quotes in the future.

   

How Much Does It Cost to Get Insurance?

When you are looking at auto insurance premium comparisons, you may wonder what the average car insurance premium is. Since every make and model of car is different and then each of the coverage options you can have on those individual cars vary, plus every state having different coverages and limits and requirements, it is impossible to have a baseline that will cover every situation. The best way to find out the average commercial auto insurance premium or the premium for a personal auto policy is to go online and get some quotes. That way the pricing will be relevant to your situation, your state, and your vehicles.

Depending on the company you get insurance with, you can check to see if they have had any premium increase issues recently. If your current company has been inching up your premium it makes it a perfect time to shop around for some quotes. When you find one that is lower than your current premium for the same vehicles and coverages, you know you've found a winner you can switch to. Don't forget extra coverages like rental insurance or roadside assistance in order to get a great quote you can stick with.

   
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Patricia Walters-Fischer