Top Six Factors That Affect Your Car Insurance Rates

Affect Car Insurance Rates

Your car insurance rates are dependent upon these factors.

These days, motorists all over the nation are finding ways to cut back on car insurance premiums. We all consider increasing deductibles and driving safely, although there are plenty of other ways to control the cost of our insurance. The premium is dependent upon the make and model of your vehicle, as well as a handful of other factors, many of which are in your control.

Your age – Younger drivers are inexperienced and are classed as a high-risk group. Because of this, youngsters will face higher insurance premiums than 25+ year olds. Seniors may get the short end of the stick, too. Those over 65 can experience higher rates.

Where you live – Because most traffic accidents happen close to home, the area you live in greatly affects your rates. More densely populated neighborhoods with more cars mean that you are at a higher risk of accidents. Furthermore, if you park your car outside of your home, located in an area with high crime rates, you may end up paying more for insurance.

Credit score – Many insurers take credit scores into account when determining an auto insurance rate. Typically, the lower your score, the higher insurance premiums. You can work to perfect your score by paying credit cards on time, limiting your debt, and checking your report.

Vehicle’s safety rating – Owning a vehicle with a high safety rating means there is a lower chance of needing to pay for you or your passengers’ medical bills. As a result, your auto rate will be lower! Common safety features include airbags, automatic seat belts, and traction control.

Desirability – If your car is new, shiny model it will likely be of high value. As a result, it may be more desirable thieves, potentially raising your rates. If your vehicle has many safety features, it may counteract the increased risk of theft and stabilize your rates.

Driving history – If you have a driving history riddled with speeding tickets, accidents, and previous auto insurance claims, the insurance company will soon learn that you’re more likely to make another claim than a similar driver who doesn’t have any blemishes on their record. However, over time, these instances need not affect your rate.

An insurance agent can help you to fill in the gaps and secure the right policy to suit your needs and budget. To get the right car insurancecontact the experts at American Premier Insurance today in Phoenix, Arizona today!