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What does your policy rate depend on?
Are you one of those people, who believe their car insurance rate depends on the vehicle’s color? Well… There was a study in a Great Britain which concluded that people driving black cars were twice likely to be involved in an accident then people with cream-colored cars. But it does not mean that you will be paying more driving black Porsche turbo in comparison with the white one. There are a lot of other factors that influence the price. They will lower or make the costs of your premium go up to the roof. The factors also depend on the state law and insurance company. Here are some basic things that will determine the rates:
- you(how basic is that!) , your age, actually, young drivers under 25 years old tend to speed, which leads to accidents, which leads to much higher rates than adults of 50-60 years old, who are usually more careful and having less of an adrenalin rush. Although, after age 65 rates may go up again;
- gender- females are involved in less accidents than mails, so the rates differ accordingly;
- marital status(somewhere you win, somewhere you lose. Just kidding!) - some studies show that married people have fewer accidents than single drivers, so they usually pay lower premiums;
- driving record- obviously, a bad driving record (DWI, speeding tickets, reckless driving, etc.) brings the rates up;
- credit history, yes it does influence a lot in our lives;
- your training- did you take defense driving lessons? Did you complete a driver course or a senior driver defensive course? All these may lower the premiums;
- drivers on your policy- the larger the number of people using your car - the higher auto insurance costs. While having a teen driver may bring the price up, because of the age, it has it’s positive side too, like getting some brake with a multi-car discount, or if your kid has good grades, or will take a defense driving course - all these will help even more;
- where you live, including the state (some states have the highest average insurance rates, for example New York, New Jersey, Massachusetts or Washington DC); the country side or a big city;
- the time spent behind the wheel- the closer you live to work - the lower the premiums;
- the car itself- make, model, year; categories, like “luxury”, “exotic” or a “minivan” will make a difference on an auto insurance rates. Costs of repair and parts, or the cars that are more likely to be stolen - all important factors;
- safety things, such as airbags, anti-lock brakes, automatic daytime running lights, window sketching, anti-theft devices - will help you to get some discounts.
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Again, all the factors depend on the law of the state you live in and insurance company you are dealing with. As you see some things we can change to get desirable benefits, but some, like our age, we can really do nothing about. All we can do is live well, work hard and drive safe. So, how about that black Porsche turbo?
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