Premiums for Auto Insurance are never calculated on a flat rate basis. There are many variables that determine the amount of the premium payable by each individual. The final rate of auto insurance is made after knowing the following:
1.) Applicant’s age. Typically drivers who are younger are determined to be high risk. On the opposite side, older drivers pay more for auto insurance due to aging eyesight and coordination may lessen as you get older which may affect driving.
2.) The make and model of your vehicle. The majority of insurance carriers group auto insurance rates based on the vehicle make. Vehicles that fall into the category of being a sedan or compact have lower insurance rates while SUVs, sports cars, and exotic cars, are given high insurance premiums.
3.) Gender plays a role. Females tend to get lower auto insurance rates than males. Male drivers are considered to high risk motorists. The statistics don’t lie. More auto accidents are caused by males than female motorists.
4.) Financial stability. Automobile owners with excellent credit scores and credit reports typically pay lower insurance premiums than people who have low credit ratings and scores. Insurance companies offer lower insurance rates to people who demonstrate a solid credit history.
5. Driving history can raise or lower your premiums. Motorists who have a accident and ticket free driving record for the last three years will get lower rates.
6.) Where you live. Areas with lower crime rates such as outside the city and less populated can give you lower insurance rates.
7.) Number of insurance policies. If you get your auto insurance policy with the same insurance company which has your health, life or home then you can ask and should receive a group policy discount.
8.) The amount of miles driven per year. If you limit the miles driven then you will be eligible for lower auto insurance rates. Also, if you use a car only for personal use it will trigger a lower premium versus one used for work.
9.) If you own a hybrid or electric car and care for the environment then your auto insurance premiums could be lower. As an automobile owner you can find something that can lower your premium by knowing all the factors mentioned above. It cannot be stresses enough, always compare rates and premiums from various auto insurance companies.
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Frank Collins is a contributor with auto insurance site and Big Rig Truck Insurance carriers in your area.
1.) Applicant’s age. Typically drivers who are younger are determined to be high risk. On the opposite side, older drivers pay more for auto insurance due to aging eyesight and coordination may lessen as you get older which may affect driving.
2.) The make and model of your vehicle. The majority of insurance carriers group auto insurance rates based on the vehicle make. Vehicles that fall into the category of being a sedan or compact have lower insurance rates while SUVs, sports cars, and exotic cars, are given high insurance premiums.
3.) Gender plays a role. Females tend to get lower auto insurance rates than males. Male drivers are considered to high risk motorists. The statistics don’t lie. More auto accidents are caused by males than female motorists.
4.) Financial stability. Automobile owners with excellent credit scores and credit reports typically pay lower insurance premiums than people who have low credit ratings and scores. Insurance companies offer lower insurance rates to people who demonstrate a solid credit history.
5. Driving history can raise or lower your premiums. Motorists who have a accident and ticket free driving record for the last three years will get lower rates.
6.) Where you live. Areas with lower crime rates such as outside the city and less populated can give you lower insurance rates.
7.) Number of insurance policies. If you get your auto insurance policy with the same insurance company which has your health, life or home then you can ask and should receive a group policy discount.
8.) The amount of miles driven per year. If you limit the miles driven then you will be eligible for lower auto insurance rates. Also, if you use a car only for personal use it will trigger a lower premium versus one used for work.
9.) If you own a hybrid or electric car and care for the environment then your auto insurance premiums could be lower. As an automobile owner you can find something that can lower your premium by knowing all the factors mentioned above. It cannot be stresses enough, always compare rates and premiums from various auto insurance companies.
by
Frank Collins is a contributor with auto insurance site and Big Rig Truck Insurance carriers in your area.
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