Most Recent Auto Insurance Guide in Factors That Affect Insurance Rates

  • Factors that Bear Effect on Premiums

    by Hayden Krueger

    Car insurance premium has a usual spot on the list of things we worry about. We tend to doubt why we are paying such high prices while we learn about people paying a lot less than we do. It will be good if we have knowledge on how our insurance providers compute for the premium rates we pay for. Discussed below are some factors that have a bearing on our premiums.

    The first factor insurers consider is age. In this case, the first time drivers, oftentimes teenagers, are charged at a higher rate because the companies see teenagers as riskier on the road and are more involved in vehicular accidents according to statistics. With these concrete data present, insurance providers think that teenagers would need more money from insurers more in accidents. This causes them to raise the premium they charge so the company will not be bankrupt.

    The next … Click here to read more

  • Things to Avoid When Getting Car Insurance

    by Hayden Krueger

    Truly, getting car insurance is one of the most important things that you must take into consideration, especially if you are to own a car and would extensively use it. Take note that most, if not all states in the US requires car insurance before drivers can be able to drive their respective cars legally. This is because of the fact that the government actually sees auto insurance as a necessity given the extensive use of cars in this country. In addition, the government also sees insurance as the one that helps protect the overall welfare of the people, especially when they hot the road.   

    However, it is also true that auto insurance definitely comes with a price. Remember that we are actually experiencing a grave economic crisis. In this case, being able to save money as much as you can is necessary. With those dollars hard to earn, it … Click here to read more

  • The Effect of Age in Car Insurance Rates

    by Hayden Krueger

    Car insurance rates are affected by a lot of factors. These factors determine how much you are about to pay. Some of these factors are gender, vehicle model and type, coverage, and your driving record or driving history. Still, the age of the policyholder also determines the rate of the premium. Sometimes car owners find this category complex and fail to understand it. This article is about to answer why and how age affects the premium you pay in car insurance. But before that, it is important to understand the functions of other factors first.

    The harsh truth is that you are required to have car insurance as long as you are a car owner, regardless of the age bracket you are in. Car insurance is a requisite according to law for you in order to drive on the roads and highways of America. This is to ensure the protection … Click here to read more

  • Statistics Matter in your Car Insurance Rate

    by Hayden Krueger

    There are many factors to consider in determining your car insurance rate such as your age, marital status, sex, and occupation. But one of the least understood is the power of statistics in determining your rate of your insurance.

    Statistics show pattern that help insurance companies decide on which group should be given a higher or lower rate depending on the risk level. A group with a high accident rate is considered as high risk therefore, they have to pay higher premium.

    Women are benefiting in lower insurance premium because of the numerical figures presented in statistics. They are better drivers than men because they have been involved in fewer accidents-mostly minor accidents. This is why insurance companies charged them lower because there is no risk involved. Why? Even though they got involved in accidents and file for claims, the insurance company will still gain much because the amount of … Click here to read more

  • Driving History as a Factor in Car Insurance

    by Hayden Krueger

    While driving in the streets, you might as well become aware of the different driving behaviors. It is a fact that most road accidents are caused by reckless driving. It does not only concern you but all of the cars in the streets who might be at risk if driving side by side with a careless driver. You might be driving your car in a very defensive manner but then because of the driver besides you, you got into an accident unexpectedly.

    In line with driving behaviors, how does your driving history affects the auto insurance premium that you are paying? This is a good question to ask especially if you are wondering why you are paying a large amount for your car insurance charges.

    Driving history is one of the first things that car insurance company will look into in determining your insurance premium. Drivers who collected a lot … Click here to read more

  • Essential Factors That Determine your Insurance Rates

    by Hayden Krueger

    What are some factors that could influence your car insurance rates?  Knowing these factors could help you find ways to lower your rates.

    If you are deciding to buy new car, you should care for the monthly payment of your policy.  New cars are more valuable than use but they may pose higher rate.  They are taken as higher risk vehicles as newer cars are stolen more often than older ones. It will also cost much more for repair in case of accident.

    Remember also that luxury cars can only be repaired or serviced by dealerships. Buying a used car rather than a new one can save you money not only in the purchase price, but in years of insurance premiums.

    Aside from getting used car, your credit history will affect your car insurance.  Companies will get first your social security number when you ask for a quote. They do … Click here to read more

  • What affects the cost of your auto insurance premium?

    by Hayden Krueger

    We often have a picture in our minds of what our auto insurance will cost us, an ideal cheap rate that we can afford while still maintaining a good amount of coverage in the event of an accident. Unfortunately though there are many factors auto insurance company’s use to calculate our rates that we are unprepared for and it will surprise us will the bill comes. So, what are some things you should know about auto insurance factors that will affect your rate?

    The largest factor the auto insurance companies will use to calculate your auto insurance premium rate is your driving history and accident history.  Basically it comes down to the fact that the less accidents or auto insurance claims you have in your history, the cheaper your rate will be.

     Why? Well because it shows that you are a lower risk for the auto insurance company and therefore … Click here to read more

  • Controllable and Non controllable factors that impact auto insurance rates

    by Hayden Krueger

    There are many controllable and uncontrollable factors that decide the amount of auto insurance you pay each year. While the controllable factors can be controlled by you and others who use your car, the uncontrollable factors cannot be controlled by anyone. This article will help you understand which 6 factors affect your auto insurance premium the most.

    Your Age, Gender and Marital Status are Non Controllable Factors

    Your age is one of the key factors that decide the amount of premium you pay each year. Insurance companies believe that certain people are of more risk to accidents than others and they also believe that people between the ages of 21 – 55 have a lesser chance of accidents. Teenagers and young adults who are younger than 21 years are charged a higher premium and so are people above the age of 55 years old.

    Your gender is another important uncontrollable … Click here to read more

  • Affect of driver distractions on auto insurance rates

    by Hayden Krueger

    Driver distractions are the foremost cause of auto accidents in the country. Save for this, the only compelling reason could be that you are inexperienced, you are mentally unsound or that you are intoxicated. Accidents don’t just happen randomly, they happen due to a momentary lapse in concentration.

    A survey conducted on all the insurance companies resulted with the statistics that your auto insurance rates will go up by 22 percent for each accident that you were found to be at fault for. And it will go up by 13 percent after the first ticket. Now this is a huge sum of money, considering that the normal person pays upwards of 300$ to insure his car every month. You are looking at an extra 350$ per annum for every ticket that you get! That is a lot of money.

    Listed below are some of the major driver distractions in this … Click here to read more

  • Six Factors that have a bearing on your Auto Insurance Premium

    by Hayden Krueger

    Most people are aware that auto insurance premiums are affected by various controllable and uncontrollable factors. While car owners have no control over certain factors they certainly have control over many factors that can bring their car insurance premium down by 20%. This article will elaborate on some of the common controllable and uncontrollable factors that affect auto insurance premiums.

    Physical Fitness

    The health of a person is one of the controllable factors that affect auto insurance rates. People who have vision problems end up paying more for vehicle insurance since vision problems can cause accidents. People who smoke also usually pay more for auto insurance. Car owners who have joint related problems that hamper their driving skills are also asked to pay more than owners who do not have these health problems.

    Age and Sex

    The age of a person determines his driving abilities and it also helps auto … Click here to read more

  • Don’t accept a speeding ticket, fight back

    by Hayden Krueger

    It is no secret that a single speeding ticket can stay on your permanent record, and affect your insurance premiums negatively for up to five years! As a strained economy, many jurisdictions are turning to law enforcement officers to serve as a part time taxman. With the law cracking down up on the lead foot syndrome, and rash and reckless driving, there are some changes to be made. 

    Gone are the days when a speeding ticket was just a ticket, and you could shrug it off with a few dollars paid as a fine, the repercussions it has on your insurance premium are grave, especially if you are a repeat offender. The insurance company sees the cover they offer you as a liability to their financial well being. 

    Statistics back up their belief that people who speed on a regular basis are up to 50 percent more likely to crash. … Click here to read more

  • Thirteen Factors impacting your auto insurance premium

    by Hayden Krueger

    Various factors affect your insurance premium, and you need to dig deep and understand them in order to be able to save on your insurance premium. 

    Age and Gender 

    The younger you are, the higher your premium will be, up to a certain age of course. Drivers under the age of 25 are statistically much more prone into getting into an accident than someone in their 40’s. Your gender also matters here; males attract a higher premium as compared to females. This is based on the assumption that women are safer drivers, a thought which is fast changing as the world sees both genders as equal. 

    Marital status 

    A married person tends to be more dependable and drive in a more sedate manner than a youngster, or even an unmarried person of the same age group. Hence insurance companies charge a higher premium for single people. 

    Credit rating 

    Like with … Click here to read more

  • Three Factors that Can Affect Your Auto Insurance Premium

    by Hayden Krueger

    Most car owners are aware that their driving record is one of the most important factors that can affect the amount of auto insurance premium they pay but many car owners are not aware that there are other important factors that can lower or increase their car insurance premium. The following paragraphs will elaborate on 3 factors that can influence the amount of premium you pay to auto insurance companies. 

    Your Age and Sex 

    The age of a driver is a very important factor that can affect his or her auto insurance since insurance companies believe that drivers under the age of 25 and above the age of 65 are much more likely to get into an accident. People under the age of 25 are often charged a higher premium since they are much more likely to participate in reckless road behavior while people above the age of 65 are … Click here to read more

  • Getting auto insurance coverage at the rates you want

    by Hayden Krueger

    Auto insurance rates are something which keeps changing with time. It depends a lot on the prevailing economic situation. If the economy is good, then people will spend more. And if people spend more, they are obviously going to buy more cars. And with an increase in the number of cars on the road, you will naturally see an increase in the demand for auto insurance. This will automatically drive the auto insurance rates through the roof, its all about demand and supply.

    So how can you keep your auto insurance rates down?

    All it takes is a few simple steps. If you follow them to the dot, you should be able to keep a check on the insurance premium that you are going to be paying every quarter.

    Ensure that you have a good driving record. A driving record is something that is maintained by the DMV or department … Click here to read more

  • Various Factors that Vary auto insurance rates

    by Hayden Krueger

    Auto insurance rates are affected by various factors. It is important to know what exactly can affect your rates before taking a decisive action to counter it.

    The most important factor is obviously the type of auto insurance that you have chosen. First party insurance or fully comprehensive auto insurance is one of the most popular new car policies. It gives the policy holder the maximum amount of flexibility and at the same time it has to be noted that it is pretty expensive. In fact it is the most expensive type of conventional insurance you can get.

    A non conventional insurance would be sports car, classic car or commercial auto insurance which is much more expensive. First party insurance gives you coverage for all accidents. Even if you were not at fault, you can claim for damages. And you can also claim reimbursement for situations where you have met … Click here to read more

  • Drive safe and avoid accidents to keep auto insurance premiums down

    by Hayden Krueger

    Driving a car is something that pretty much every adult in this country is capable of. America is a country where one cannot lead a normal life without access to a car, at least which is the case in all parts other than a few cities with a good public transport system.

    Although a lot of people can drive, the question is can these people drive safe? Do you know the ways and means to avoid getting into an accident? Being aware at all times can help you in avoiding an accident like situation. It is important to anticipate what is going to happen on the road. We shall discuss a few pointers on how to avoid accidents.

    The most important thing as mentioned before is to be aware of your surroundings. Make sure you know the local rules and regulations. It is important to do your homework before you … Click here to read more

  • Understanding the Factors that Increase your Auto Insurance Premium

    by Hayden Krueger

    There are many factors that can increase or decrease the amount of auto insurance premium you are asked to pay. While many of these factors can be controlled by taking simple steps, some of these factors cannot be controlled. This article will elaborate on some controllable and some uncontrollable factors that increase the amount of auto insurance premium you pay.

    Age, Gender and Marital Status are Uncontrollable Factors

    People who are under the age of 25 are considered as risky drivers by vehicle insurance companies and people over the age of 65 are also considered as risky drivers. People who are between the ages of 25 – 65 are considered as safe drivers provided they fit the other requirements. Over the past few years auto insurance companies have noticed that male drivers tend to get into more accidents than female drivers.

    Vehicle insurance companies also believe that male drivers are … Click here to read more

  • Varying auto insurance rates made easy

    by Hayden Krueger

    Everyone’s trying to save money these days, and auto insurance coverage is a particular area of interest for people needing to cut back. So, you may have decided to go look for a new auto insurance company or a better deal, and have found you aren’t getting much better then what you already have, or are in fact, getting worse. So, you’re confused and wondering just what is affecting your auto insurance rates. What is causing my rates to be so much higher then I think they should be? Well, there are many factors which will affect auto insurance rates. Here is some information for you to better help you understand the numbers you are being quoted.

    Driving History

    Driving history directly and dramatically impacts auto insurance rates. It’s rather logical as to why it affects your auto insurance rates so much. Auto insurance companies make their profits when paying … Click here to read more

  • Factors about auto insurance that you might not be aware of

    by Hayden Krueger

    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 … Click here to read more

  • Lesser know factors that matter for your auto insurance

    by Hayden Krueger

    There are a number of things out there that can affect your auto insurance in the long run, but then, there are also some lesser known factors which actually affect your coverage. If you are familiar with these terms, then you might be in a better position to claim a lower premium rate for your vehicle. Although it is not possible to control all of the factors that go into deciding on your auto insurance premiums, some of these factors do make a significant difference when computing your rates. The key is to be aware of them so that you can at least make sure that you are in fact getting the best premium possible.

    Believe it or not, your zip code holds a lot of information about your premium. The place that you give as your residential address has a huge say in your insurance premiums and you need … Click here to read more