Factors That Will Impact Your Annual Vehicle Insurance Rates
As time passes there is one thing that keeps increasing, your car insurance premiums.? Or how, after receiving a speeding ticket, your auto insurance company suddenly surprises you with a doubled (even tripled) insurance premium?
How about when your teenager started taking out the family car? Did you almost wanted to cry when you saw how much more expensive your insurance costs would be for adding a teenager under your policy?
Everyone is looking for ways to save money, and the easiest way to save a large amount of cash is by looking over your current car insurance coverage and premiums.
The Car
The vehicle make and model is a very large factor to consider when figuring your car insurance premiums.. A more expensive car costs higher to insure for obvious reasons, but did you know that you might actually spend more on auto insurance for a smaller vehicle as compared to a larger one?
Statistics also play a big role when it comes to determining which types, car model, year, and manufacturer would cost more to insure. The vehicle's safety rating or crash test rating will also play a large role in calculating the annual premiums.. The popularity of your vehicle among car theft would also take into consideration.
Your Age
How old you are is another large factor in determining your annual insurance premiums.. Each age group would have its own overall capacity to avoid car accidents, hence each would fall into certain risk profiles.
Teen drivers and beginner drivers cost the most to insure, and so do older senior citizen drivers Apparently, once we hit your mid-twenties we magically turn into safer drivers, hence better rates until we reach retirement. There are years of documented data that can back up the claim that age does effect premiums.
Driving History
How you were, as the driver, for the past three to five years would greatly affect how a insurance carrier determines the risk options you represent for car insurance coverage. From car crashes and collisions you got involved in, even to the smallest of speeding tickets, these would be taken into consideration once your policy is drawn up.
Your Gender
Men drivers are considered higher risk as they get into more accidents and tend to behave riskier, as compared to females drivers, and this goes the same for auto insurance premiums.
