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insurance auto guide |
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Auto Insurance - What Factors Effect Your Rates?
By Joseph
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Car insurance is something that we all need - if we drive a car.
While having car insurance may not be an option, just how much we pay
for it is. There are a number of things that can make those numbers add
up, while other factors will tend to bring those numbers down.
Car insurance is something that we all need - if we drive a car. While
having car insurance may not be an option, just how much we pay for it
is. There are a number of things that can make those numbers add up,
while other factors will tend to bring those numbers down. Here are
some of those things.
Factors About You
This is
probably the greatest factor about you that will set the rates. Car
insurers tend to think that a male that is 25 or less is prone to be
less careful than a female driver of the same age. This means that a
young man will pay more for the same coverage on the same car than a
girl would that is just as old. When you get married, though, you will
usually see a drop in your insurance rates - guess that means you
should be more responsible - and careful even if you still are less
than 25.
Another thing is whether you have had a driver's
training course or not. If you have had formal instruction, you can
tell your insurance agent, and that should result in a small discount.
And then there is the matter of your driving record. If you have
traffic violations, or a past accident (or two) within the last three
years, your rates will be raised accordingly. If you have enough of
these, insurance companies will not insure you.
Your job can also effect your insurance rates. If you drive
a lot of miles every year, it increases the likelihood of an accident, which means higher rates.
The Car
The car itself is also a main consideration as to what your
rates will be. This is based on risk to the insurer. A more
expensive car means that an insurer may lose more money - so they
charge you more for it. Obviously, your insurance rates on a Ferrari
will be higher than on most other cars. Also, a brand new car right off
the dealer's lot will be more than a car that is one year old. Some
models of cars are the most likely to be stolen. These cars are
reported regularly online every year, and if you want lower rates the
stay away from these hot cars.
Having certain safety
features on your car can reduce your rates, too. If you live in an
urban area, things like steering wheel locks, car alarms, and other
features will lower your rates.
The Neighborhood
Where
you live is another main consideration. For instance, those living in
an urban area will find their car insurance rates to be much higher
than those who live in a rural area. This could be a difference of over
230% - depending on which city, and in what neighborhood in that city
you live. With more traffic comes a greater likelihood of getting into
an accident. Theft is also another concern.
The Policy
The
policy itself, and what you choose in the way of options and coverage,
will also effect the price of your insurance payments. You can reduce
your car insurance costs by increasing the deductible, and possibly by
eliminating some of the other options you probably will never use. Make
sure, though, that if you increase the deductible, that you can afford
it. If you were to have an accident, it will be necessary to pay the
deductible before the insurer will do their part. |
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