Top 5 Factors Determining Your Car Insuranse Rates
ADDED
05-28-2007
Automobile insuranse is often confusing and it is sometimes difficult to understand why some people have lower rates than others. There are actually many factors which come into play; some you can control and some you can’t.
Here are the top five factors which insuranse companies look at when determining your rate.
1. Age – Age will greatly affect your insuranse rates. Teens and beginners will always have higher rates that the more experienced drivers. As you get older these rates will go down until you become an elderly driver, at which time they will begin to rise again.
2. Auto Insuranse Companies – You have control over this factor since you have the option of shopping rates. It is your choice who you choose to provide you with auto insuranse.
3. Gender – Females usually have lower car insuranse rates because the insuranse companies look at the female as being the safest driver. Males tend to have more automobile accidents
4. Type of Vehicle – insuranse rates on sporty vehicles are much higher than the rates for a lower priced car. The rates go up with the value of the car.
5. Driving Violations – Moving violations and citations are guaranteed to drive up your insuranse rates. If you want to keep your car insuranse rates low you will need to abide by the rules.
These are the most important factors which determine rates but there are also others. Everybody has to pay auto insuranse so it is best if you understand the insuranse company’s point of view. This will allow you to keep your rates as low as possible. |
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