What Factors Determine Auto Insurance Rates?

Insurance companies consider a variety of factors when determining your auto insurance premiums. The main categories include:

• Personal information—Drivers under 25, especially men, are seen as higher risk than older drivers and those who are married.
• Driving record and credit history—Safe drivers with good credit typically pay less for auto insurance.
• Location—Densely populated areas often have higher rates of vandalism, theft and car crashes. This could translate to higher premium costs.
• Vehicle characteristics—Vehicles with below-average safety ratings or with parts that are expensive to repair may cost more to insure.

For further auto guidance, contact us today.