Virginia – Factors that Affect Auto Insurance Rates


Car insurance can take a bite out of the budget today, so it pays to know the factors involved in determining current premiums. While many factors may be unchangeable, others might be more flexible. By knowing the various factors that go into determining rates for an individual, drivers are better equipped to shop around for the best premiums on the specific coverage they need. We’ve got five factors to consider when pricing your next auto insurance policy.

Age and Gender

Who you are makes a big difference in the kind of auto insurance rates you will pay. Men tend to pay more than women, since statistics show they are more likely to be involved in an accident or receive a moving violation. Age also plays a part in rates, with drivers under the age of 25 and over the age of 65 paying more than the rest of the population as a general rule. You may not be able to change your age or your gender, but knowing what category you fit into can make a big difference in how much shopping around you might do for your insurance.


Some areas of the country tend to charge more for auto insurance premiums than others. You will also pay more if you live in a traffic-congested city where the incidence of accidents is much higher. By the same token, people that live in rural farming areas probably rarely drive on busy streets; hence, smaller prices for auto insurance. There is also a correlation between areas that see an increase in auto thefts and higher insurance premiums.


What you drive will also play a part in the amount you pay for insurance premiums. For example, a high profile vehicle like a red Ferrari is more likely to receive a moving violation or get stolen. Therefore, it will cost more to insure this vehicle than an unassuming family sedan. Expensive foreign cars also cost more to repair after an accident, so the cost of those vehicles goes up as well. However, if you purchase an automobile that is loaded with anti-lock brakes, extra airbags and an anti-theft device, you will probably enjoy lower than average insurance premiums.

Driving Record

This may be a no-brainer, but it is important enough to state the obvious. People who have a clean driving record with no moving violations or reports of accidents tend to score when it comes to purchasing auto insurance. Here’s a hint; if you do receive a traffic ticket, find out if you can attend a defensive driving course to remove the ticket off your record. Those few hours spent in driving school may pay off big when the insurance premium comes due.

Other Factors

There are a few miscellaneous factors that we have lumped into this final category. First, people with desk jobs usually pay less for insurance than those that drive for a living. A student on your insurance policy can be cheaper to insure if he is on the honor role. You can also save on your car insurance by maintaining a clean credit history.

Knowing the factors that go into determining auto insurance rates can help you save a few extra dollars on your insurance premium. Keep this information handy the next time you are shopping for insurance rates, to ensure you use every possible factor to your favor.