Facts and Information in Auto Insurance

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Auto Insurance Knowledge

Information on auto insurance, such as how premiums are
calculated, and tips on how to lower your premiums. Learn what coverages are
needed, and where to purchase insurance in your area, with free online quotes
available.

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Get updates on auto insurance such as tips for saving money on premiums, and how to get the lowest rates!

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What Affects Car and Auto Insurance Rates ? 

There are many things that can affect your car insurance rates. All these factors are taken into account by the insurance companies when they calculate your insurance premiums. Understanding these what affects insurance rates will help you save money by knowing what you can do to change these rates

4 Main Points That Affect Insurance

  1. Age of Driver

    2. Insurance companies have spend large amounts of money into research drivers habits. They have found that younger drivers are more at risk for accidents. Since young drivers have a higher rick, they will have a higher insurance rate. This higher rate seems to stay until the age of 25, at which point your rate drops dramatically.

  2. Driver's Record

    3. This factor is very simple, the less accidents, tickets and other infractions you have the lower risk you are to insure, and thus the lower your insurance is.

  3. Where You Live

    4. Each state and province has different laws with regards to insurance. The insurance rates will change depending on the amount of crime, theft, ect. in your area.

  4. Make and Model of Your Car

    5. This is the major factor when calculating insurance rates, and one that can be easily changed. A newer, more powerful car will cost more to insure. This is beacuse a sports car is more likely to get broken into, and also, people who drive them are more likely to get traffic violations, thus increasing the cost of insurance.


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ReplyPosted July 10, 2007

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