5 Factors that Influence Car Insurance Rates!
Free car insurance quotes are essential for anyone who wants to save money on auto insurance. Below is a useful list with 5 factors that influence car insurance rates.
- The model and value of the car. The type of car you are driving and its value play crucial roles in determining auto insurance rates. Typically, newer, more expensive cars cost more to insure. Companies will ask to detail more about your car before issuing a policy. You will be asked: the brand of the car, the model (including fabrication year), what type of car it is (SUV, limo, family car), if you use it only to get to work or for other purposes and so on. It is also likely to be asked if you own the car or you are still paying for it.
- How safe that car is. Insurance companies rely on statistics to determine the risk profile of a car. If a certain model has caused numerous accidents or there were been reported fabrication faults, it likely to apply a hefty charge on auto insurance. Also, insurance companies check safety rating for car models before providing coverage. If your car is considered safe, you will pay less. Installing safety devices will lower the rates.
- Criminal records. Every insurer is interested not only on the car model, but also on who is driving it. Having numerous felonies like parking tickets or speeding will influence the rates. Prices go even higher if the applicant has DUI incidents in his records.
- Experience of the driver. Persons that get their first car are charged with slightly higher premiums because they are considered inexperienced. But after some years, when you will renew the policy, experience will be in your favor and will help you get lower rates.
- The policy itself. Well, if you ask for more coverage and you apply for multiple policies, you will surely have to pay more. Apply only for policies compatible with your needs.
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