There are several factors which determine the insurance rates. The vehicle, your driving history and number of claims made in past, safety features added in your vehicle and the parking space all account for your present insurance rates.
But if you live in Tennessee there are several other factors which affect the insurance rates. These may be unknown to a large section of the people of the state until they come up at the time of an accident and you get the clear picture as to what is included in your policy and what not.
There are some factors over which you have no control like age, sex and marital status. Age is quite an important factor which determines your insurance coverage. Drivers under 25 years of age are in the high risk area and their insurance rates are generally high. People over 25 years have to pay a nominal insurance fee. Drivers in the age bracket of 55 years to 65 years are considered to be the safest drivers.
Gender is also an important consideration. Women sex is considered to be the safest drivers. Thus, insurance rate rebates are generally offered to them. Statistics prove that women drivers are issued less traffic tickets and are involved in less number of accidents. Marital status in Tennessee can affect your insurance rates. If you are married your insurance dues will surely be low as compared to a single person.
There are some factors which can alter or at least try and keep a check so as to economize your insurance rates. Geography of the area where you live considerably affects your insurance rates. If you live in an area which is crowded or congested your insurance rates would be high when compared to people living in countryside. As the roads are wide open and little traffic reducing the number of accidents.
If there are too many driving violations like speeding tickets, reckless driving and DWI’s it is surely to affect your insurance rates considerably. These all account for higher rate of premiums. You may even have to pay higher premiums if you have ever been involved in an accident. The insurance companies ask you to pay higher premiums for almost five years. But remember, as your records improve, your insurance rates also must go down simultaneously.
The cost of the vehicles also affects the insurance rates largely. The cheaper vehicles have lower insurance rates and expensive the vehicle costlier is the insurance rates. Accident claims affect the insurance rates adversely. A clean and accident free record is sure to give you concessions in insurance premium.
Individuals with bad credit history are kept in risk group and thus high rate of insurance rates are applicable on them. Distance traveled daily on an average also affects the insurance rates considerably. Installment premium cost more in comparison to the one time premium. Thus, try and make the insurance premium payments timely and in one go to save the cost of insurance rates.