As a car owner, when you start to compare the auto insurance rates of different companies before purchasing insurance for your car, you will come across a variety of factors on which the insurance premium depends. You can avail the best auto insurance rates if you proceed in accordance with the terms and conditions of the insuring company. The rates of auto insurance as quoted by the different companies largely depend upon the following factors:
- Age of the car owner- Insurance rates for aged is expensive.
- Car model used- Expensive car models cost greater premiums.
- Mileage of the car- greater the mileage more will be the insurance rate.
- Experiences of the driver- Experienced drivers attract the best insurance rates.
- Car driving history – A good driving history without any traffic defaults will help in providing the best insurance rates.
- Credit card history- A good credit history of the driver attracts the best insurance rates.
- Health of the applicant- good medical history attracts best insurance rates.
How age and health effects best auto insurance rates
Insurance is a type of business in which a company guarantees for the protection of a property if damaged. When quoting a premium for insurance, the company keeps in mind that it has to recover the insured amount from the car owner’s insurance payment. Keeping the various factors in mind the quotes are released. Health and age have an effect on the insurance rates. Elderly people and unhealthy people fall under the high risk category. These people are prone to accidents.
In the US, people above the age of seventy five have to take a mandatory road safety course before the company decides on the premium rate. The course mainly deals with the different safety measures that the aged car owner must take. This score actually helps in getting the best insurance quote for the particular individual. The better the score lesser will be the premium amount. The insurance company also looks for other age related concerns the owner might suffer from. Paltry or no vision is one of the factors that insurers make sure before determining the premium amount for insurance.
Elderly and other unhealthy drivers need to take various medications for their physical upkeep. Some of these medicines might affect the reaction power as well as the problem solving power of the individual. When filling up the application form for the best auto insurance rates, the applicant needs to fill up his medical history.
