What factors determine my auto insurance rates?

There are a variety of factors that determine your auto insurance premium.

Your Personal Information
  • Age, gender and marital status – People under the age of 25, especially men, are seen at a higher risk than older drivers and those who are married.
  • Driving record and credit history – Safe drivers with good credit tend to pay less for their auto insurance. Although any accidents or infractions may increase your premium, the effects of past incident will gradually decrease over time.
Your Vehicle
  • Where it’s located – Densely populated areas tend to have higher rates of theft, vandalism and car crashes.
  • Characteristics – Vehicles that are more expensive to repair or have below-average safety ratings are typically more expensive to insure.
Your Policy
  • The amount and type of coverage your purchase – How much coverage and the type of insurance you decide to purchase (e.g., liability, comprehensive and collision) can affect premium costs.
  • Choosing a high or low deductible – Having a high deductible plan may help you save on premiums, but in the event of a covered incident, you will most likely pay more out of pocket.

Ways to save

Being a good student or safe driver, bundling your auto policy with other forms of insurance or simply just having a clean driving record are all ways that you may be able to receive discounts to lower your auto insurance premium.

Contact us to discuss ways you could reduce your rate.

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