Buying a good auto insurance policy involves a lot of groundwork. You need to know the basics of auto insurance and the various attributes that are taken into consideration in order to generate the premium for the coverage. The benefit of having this knowledge is that you can vary key attributes to ensure you get the best auto insurance rates from the provider of your choice. If you are unaware about these traits, then now is the time to open your eyes and make note. Here are some key traits, which when varied can get you the most competitive rates for the coverage you opt for.
Driving record
The driving record of a person is something the auto insurance providers will be keen to look into. Drivers who have a clean driving record, without any parking tickets too, will be given the highest priority. They will be categorized under the safest drivers and will be eligible for the highest discounts possible. On the other hand, if you have a lot of black marks on your driving record, be prepared to shell out a huge amount of money for coverage. Drivers with poor driving records and those without any driving record (teen drivers) have no choice but pay through their nose.
Good academic record
One of the options for teenagers to reduce their auto insurance premiums is by showing their academic excellence to the providers. This is a valuable record, especially because they do not have the backing of a driving record. The better the grades your teenager has at school, higher the chances of you getting best auto insurance rates for the coverage.
Reducing the mileage
One of the attributes that plays a major role in determining the premium of the policy is the mileage of the car. Auto insurance providers classify drivers who travel a lot under the high risk category. While applying for the insurance coverage, drivers who estimate a higher mileage have to pay significantly more for their premiums as compared to those who have limited mileage. If you are looking for competitive rates that are not heavy on your pocket, then use the car for limited purposes.
Medical records
If you are a senior citizen applying for the car insurance coverage, chances are you will have to spend more than the rest of the population of the premium. This is because insurance providers feel that the driving capability of seniors is affected by their health condition. Showing your medical records that reveal your good health will increase the chances of you getting the best auto insurance rates.
