There are various types of coverage provided by auto insurance companies. Coverage is provided for accidental damage repairs. Coverage is also provided for medical expenses in case of accidents. Auto insurance companies also provide coverage for theft. However, the insurance premium is not the same for everyone. The rates vary from person to person based on various factors.
Age of the Car owner
Interestingly, the insurance premium depends on the car owner. Housewives and seniors are less likely to drive the car a lot. Hence the chances of accidents and thefts being much less, the insurance premium too would be less. The premium is found to be the highest for middle aged working men who seem to use the car the most and hence are the riskiest age group for insurance providers.
Credentials of the insurance policy holder
The credentials of the insurance policy holder also influence the insurance rates. … Click here to read more