Like any other auto insurance, auto owners insurance company assesses an application based on the applicants’ personal details such as gender, age, marital status, credit history, and driving history. From this information, auto insurance companies are able to determine what car insurance premium rate they will give their new policyholders. Some of these factors policyholders have control over but some they do not. Let us take age for example; we can’t change our age from the time that we apply for car insurance so we really don’t have control over this factor.
You will notice that teens have more expensive car insurance than those who are middle aged. Seniors also have expensive auto insurance. Why is this so? Well, auto insurance companies give importance to statistics on car accidents. Studies on car accidents show which age group is more prone to car crashes. In this category, with so much evidence, teens are more prone to car accidents and they are a bigger liability to the auto insurance company and that is why their car insurance is expensive. Compared to middle aged men and women, who are more mature and experienced in driving, these people have significantly cheaper auto insurance. The same goes with marital status.
Married couples receive discounts and get cheaper auto owners insurance than single men and women because of statistics. Studies show that married men and women are less likely to be involved in car accidents compared to bachelors and single ladies. The reason behind it is researched as well. Married men and women tend to be more careful on the road because they care for their families. If they were reckless on the road and they end up dead in a car accident because of them not being safe drivers, who will take care of their family or spouse? Research also said that they feel that they need to be more responsible on the road because they are not only living for themselves but they are now with another individual.
So, if you are single and you want cheap auto owners insurance, there are still other factors that you can control to help you get a cheaper rate. Safety gadgets never fail to aid in cheap auto owners insurance. Install necessary safety and antitheft devices and you can be sure that you will be given a discount by auto insurance companies. You want to make them feel that you are a safe driver, and you take precautions on the road.
