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Top 5 Factors Determining Your Car Insurance Rate.


Below you will find valuable information regarding the factors which are compiled in order to determine the rate of your car insurance. These will help you understand important aspects of auto insurance and why some individuals receive higher rates than others.

1. Age Your age will greatly affect the rate of your car insurance. Teenagers and individuals who are just beginning to drive will have higher rates for no reason other than their age. There is nothing you can do about this, as you get older and become a more experienced driver your rates will go down. Although they will go down, they will not stay down. When you reach a certain age your car insurance rates will go back up because you are an elderly driver and your eyes and coordination may not be as effective anymore.

2. Auto Insurance Companies This is a factor which you have control over. Some car insurance companies offer lower rates than others for many reasons. It is up to you to choose which one will benefit you the most both now and in the long run.

3. Gender Whether you are male or female will also affect the rate of your car insurance. Females generally have lower car insurance rates because according to insurance companies men are seen as potentially careless drivers who are more likely to be involved in car accidents.

4. Type of Vehicle As much as we would all love to be driving a shiny silver Porsche Boxter all around town, the insurance rates for these types of vehicles are astronomical. If you want your auto insurance rates to be low, think about driving a car with a lower price tag. The more money your car is worth, the higher your car insurance rate will be.

5. Driving Violations This is another factor which you have control over. Any form of ticket you receive can potentially raise the rate of your car insurance. If you want to pay less for car insurance, abide by the rules of the road.

Although these are the most important factors in determining your rate of car insurance, there are many other factors which also play a part in how much you will pay. By researching and understanding the aspects of this form of insurance you can be better informed as to how to reduce your rate.

Please note that this description/explanation is intended only as a guideline. Contact your licensed agent for more information.

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