Factors Affecting The Overall Cost Of Auto Insurance
In order to control your auto insurance quote and get the best price possible for your policy, it's helpful to know how insurance companies figure overall insurance costs. While it's a complicated process–thousands of statistics are combined with complex algorithms to decide each quote–there are a few general factors that drivers should know about that always affect car insurance quotes in a significant way.
The driver's record is one of the most obvious factors affecting an auto insurance quote and one of the most significant criteria, too. A driver who gets a traffic ticket or who fills out a car insurance claim has a statistically high chance of reporting an additional claim. Insurance companies know this, so they increase the overall insurance costs for drivers after a traffic violation or a claim has been reported. A single speeding ticket can cause an auto insurance quote to rise by 20%, and multiple incidents will have an even greater effect on insurance rates. For this reason, it's important to keep your record clean if you want to keep your car insurance rates low.
Your choice in vehicles will also contribute to overall insurance costs. Fast, unsafe cars are well known to be high insurance risks, and if you own an expensive, statistically dangerous vehicle, you'll be paying more for your monthly insurance premiums. If you drive a safe vehicle, you'll pay less, particularly if that vehicle has additional safety features that aren't standard such as side airbags. Anti-theft features on vehicles also bring down costs, as do general statistics on the types and number of claims for a particular model of vehicle. Cars with relatively high rates of theft and low safety ratings will cost their owners quite a bit, so it's a good idea to look into these numbers before buying a new car insurance policy.
There are dozens of other factors that can make a serious difference in the cost of your auto insurance quotes. Gender and age are two big factors, although drivers obviously have little control over them, and the theft and accident statistics in the area where you live can make a big difference. To stay on top of your car insurance rates and know how much you can expect to pay, look online for car insurance quotes on a regular basis. Ask your insurance agent for advice on lowering your costs and see if your insurance provider offers any types of discounts. Knowing about your insurance company's criteria for car insurance quotes can help you to control your rates and allow you to buy an appropriate amount of coverage.