auto insurance rates


Determining Auto Insurance Premiums

Auto insurance rates are generally determined by the same standard factors. In addition to your previous driving record your rates depend upon the following factors:

1. The type of vehicle you drive: Statistically some vehicles have a higher rate of accidents and may be more expensive to repair. Also some vehicles are stolen more often than others.

2. Use of the vehicle: If you use the vehicle for work your premiums will most likely be higher than if you used the vehicle for personal use.

3. Your age, sex, and marital status: Studies have shown older drivers, females, and married individuals are involved in fewer accidents, thus they will receive a lower premium.

4. Your neighborhood: Where you live will have a good effect on your premiums as well. More densely populated areas will be more prone to accidents, thus a higher premium.

5. Prior insurance: If you lack prior insurance or you’re a resonably new driver insurance companies see you as a high risk. With less experience than other drivers you’re premiums will be higher.

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