5 Factors That Affect Car Insurance Rates – How to cheap Your Costs

 5 Factors That Affect Car Insurance Rates. it can be tempting to reduce your rates by choosing lower amounts of coverage or by raising your deductibles. These are, of course, the two most obvious factors that affect the cost of your auto insurance.



Demographic Factors

Marital Status
Married people tend to have fewer accidents than single people; therefore, getting married (especially for men) can significantly lower your rate. How much your rate decreases depends on your previous driving history – if you are a man who has never been in an accident and has a clean driving record, you could see your rates nearly halved.

Credit Score
Many insurance companies take your credit score in to account when determining your rate. There is no specific point at which your credit score begins to affect your rate, but in general, lower scores mean higher insurance premiums.

Safety Rating
Owning a vehicle with a high safety rating means there is a lower chance of needing to pay for your or your passengers’ medical bills – therefore, your rate will be lower. Owning a car with a lower safety rating, however, will usually result in a higher cost.

Age of the Car
Though the repair costs of an older vehicle are similar to the costs of a newer vehicle, an older car is more likely to be “totaled” in an accident. This is because the cost of significant repairs needed for an older car can often be higher than the vehicle’s entire worth.

 Likelihood of Theft
Some cars are more attractive to thieves than others, and a car model that hits the top 10 most stolen list is likely to have higher rates than one that’s not a likely target.


If you haven’t checked competitor prices for a while, you might be paying too much for your car insurance.


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