There are a number of factors that your auto insurance might be dependent on. You might not be able to control all of the factors that are going to be considered, but being aware of some of them can be beneficial. In fact, it might even help if you know about the factors that you cannot do much about, because you can try and neutralize the effect of these by taking better control of the factors that do matter. Here is a small list of some of the factors that are often considered but you might not necessarily be aware of.
The Age Factor
This is quite a big factor when it comes to your insurance. Many of these insurance companies take your age very seriously and will decide on the premium depending on how old you are. If you are a teenager, you are bound to pay through your nose and if you are above 25 but below 60 years of age, your insurance premium is not going to be affected much by the age. For the unfortunate drivers who are over 60, the auto insurance premium is going to rise periodically. The only way you can slow this down is if you can drive safely and show the insurance companies that you are in fact a good driver.
Your Marital Status
This is the other thing that matters to auto insurance companies. If you are single, you might be paying quite a lot more for your insurance. This is because the insurance companies will view you as a liability and potentially someone who is not going to be overly bothered about being too careful as you don’t have much to lose. On the contrary, if you are married and have kids, then you might be getting a break on your premium. The more settled you are in life, the better it is for your insurance premium. Hence, you might want to consider this as yet another reason to settle down!
You Car
It is as simple as that; your car too dictates your auto insurance. Unlike what people think, the costlier a car is, it might not necessarily mean that the premium will shoot through the roof. If the car is costly and has a lot of safety aspects like remote central locking and anti locking braking and all the bells and whistles, it might not necessarily attract a very high premium. In fact, cheaper cars that are without any credible safety feature and prone to getting stolen will be very expensive to insure. Hence, you might want to check out the insurance rates of a car before you finalize on it. It might not be the conventional of buying the car, but it definitely is a way that you could save on your insurance in the long run.
These are some of the factors that are considered while your insurance is being drafted. It is quite impossible to detect all of the parameters that might be involved in drafting the policy. But, if you just take some of the factors and try to swing them in your advantage, then that would be a big advantage for you. Talk to your insurance agent and see what they give more weight to when finalizing on the premium of your auto insurance.
