Oklahoma – Factors that Affect Auto Insurance Rates


While opting for auto insurance, there are a number of factors that are going to affect insurance rates that you need to be aware of. As all of us would ideally like to only pay the best rate for our insurance, it is important to understand the different factors that affect the insurance rates of our motor vehicle and try to ensure that these factors are taken care of and not causing the premium to be higher than it actually is.  With a little effort, it is possible to ensure that we get to enjoy the best possible rates on our auto insurance.

The first factor that affects insurance rates is your credit rating. Your credit score pretty much determines how you are with your finances and dictates the route that insurance companies ought to opt to ensure that they get their money regularly every month. Hence, maintain a good credit score and ensure that you are paying your monthly bills on time and not skipping any payments. There are a number of ways to improve your credit score and most of them are about spending your money wisely and not frivolously on unnecessary things.

Next, the car you drive also has a huge impact on your auto insurance rates. Most of the times, students pay a very high premium because they have very little choice and no auto insurance company gives them a good rate. However, if you settle for a used car or one that costs less to buy, you can enjoy lower insurance rates. For people who don’t have a large income, saving on your insurance is possible if you are willing to drive a cheaper car. Driving cheap cars is something that all of us begin with, gain experience with and then eventually invest in a costlier model.

Also, drivers who attend special classes like defensive driving or even just go in for driver’s education classes will have lower auto insurance rates. Since insurance companies like to insure safe drivers, you need to work towards building that image and ensuring that your insurance company is happy to provide you coverage at a lower rate. It is also possible to have lower rates if you don’t have prior accident history and are also a safe driver from your teenage years. Eventually, your insurance rates should go down as you make fewer claims and generally have no incidents on the road.

In addition to the above features, auto insurance rates are also slightly different between the different auto insurance companies. Depending on what is given preference, you can enjoy lower auto insurance rates on your vehicle with a particular auto insurance agent. Also, the features of your car make a difference to your auto insurance rate. Features like air bags and safety belts go a long way in ensuring that you get only the best rate possible. To top it all, auto insurance rates will even be lower with reduced features in the insurance package. Without options like comprehensive coverage and collision coverage, your rate should automatically reduce and be more affordable.