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5 Things that Affect Car Insurance Rates

2/6/2019

18 Comments

 
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​Last time you thought about buying a car did you consider the expenses that come with it? A car is an added responsibility. You need to gas it up, maintain it, and repair damages if there are any. Also, you need to pay tolls to pass through highways. A car is a big investment which is why you also need to buy insurance for it. Ever wonder how car insurance companies get their rates?

Many people think that car insurance is costly. While that might be true, it doesn’t have to be the case. There are ways that we can reduce our premiums, and that is through discounts. But before focusing on discounts we need to understand the factors that affect our insurance rates.
Your Vehicle
Insurers base car insurance premiums on the car you own. Often, they look into the potential costs of repairing or replacing your car when it gets into an accident. If your vehicle is expensive than the average car, you’ll have a higher premium.

Credit History
Credit history, or credit score, is a way to measure how responsible you are with your financial obligations. If you have a poor credit score, chances are you’ll be in for a higher premium. We have some carriers who don’t rely on credit score as much also so if you don’t have good credit give us a call because we can help.

Driving History
When you request a quote we’ll often check out your driving history. If we see that you’ve been involved in several accidents or you’ve violated some traffic rules you’re undoubtedly going to pay more.

Your Neighborhood
Some insurers charge higher premiums to those who live in densely populated areas. That’s probably because there are higher chances of accidents, vandalism, and theft. Thus, urban drivers pay more auto insurance coverage than rural drivers even if they own the same car.

Gender
Believe it or not, your gender affects your insurance rates. Kind of sexist, right? We know a lot of men who claim that they are better drivers, but they are actually riskier to insure. That’s because they are more likely to get a speeding ticket, get a DUI violation, and get involved in an accident. Thus, male drivers pay more on insurance than their female counterparts.

Based on those factors (although there are many others) you’ll better understand how your insurance premiums are calculated. From there, you can take the next step of finding the right discounts and carrier reduce your premiums. Just bear in mind that you shouldn’t compromise your coverage for lower rates.

At Robert Nichols Insurance Group, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (561) 406-6153 or Click Here to request a free quote.
18 Comments
Dane - Edinburg Roadside Assistance & Towing link
4/4/2019 09:17:53 am

Does opting for emergency roadside service increase your rates? I help a lot of people who have roadside service coverage and I've always wondered if it increases their rates by having this coverage. I've heard some insurance companies include it, but does it actually increase their rates?

Reply
Dane - Edinburg Roadside Assistance & Towing link
4/4/2019 09:23:33 am

Does including emergency roadside service on your policy increase your rates? I help a lot of people who have roadside service coverage and I've always wondered if it increases their rates by having this coverage. I've heard some insurance companies include it, but does it actually increase their rates?

Reply
Greta James link
3/2/2020 07:43:08 pm

Wow, thank you for informing me that cars that are more expensive often have higher premiums! I have been thinking that I need a car. I have all of these desires to go travel across the country, but I cannot because I cannot drive anywhere. My sister was trying to help me look, but I really appreciate your insurance tips. Your tips give me a lot of clarity so that I can find the perfect car and insurance.

Reply
Katherine Fischer link
5/26/2020 03:52:54 pm

That's good to know that the price of your car can affect your insurance rates. My sister is looking to buy car insurance and is trying to figure out about how expensive it will be. I'll share this with her, so she can see if the information will help her keep her rates down or at least make a budget for her insurance.

Reply
Mike Sanders link
6/2/2020 09:20:44 am

It's good to know that your car insurance rates could be impacted by your credit score. My sister has been telling me about how she wants to ensure that she's financially protected in the coming weeks. I'll share this information with her so that she can look into her options for car insurance companies that can help her with this.

Reply
Hazel Owens link
6/28/2020 10:26:55 pm

I'm planning on buying my sister a car and purchasing auto insurance for her as she just got her driving license. It's interesting to learn how the car insurance premium depends on the car I get her. Since she is a new driver, I will opt to get her a small car which will reduce the premium significantly. Thanks for this helpful article. I will look into getting her a small car and look for an auto insurance service for her policy.

Reply
Nelson Fogerty link
7/15/2020 11:58:59 am

It's interesting that you mention that auto insurance can help protect you financially in case your car gets damaged. I'm thinking about buying my son his first car this summer, so I will definitely want to purchase some auto insurance for it. I'm going to search for a reputable business in the area that can sell me an auto insurance policy.

Reply
Greg Hampton link
8/3/2020 07:00:01 am

I like what you said about making sure that you have a good credit score to get good auto insurance rates. My sister wants to make sure that her car insurance doesn't cost too much in the coming weeks. I'll share this information with her so that she can look into her options for insurance professionals who can help her with this.

Reply
Kristofer Van Wagner link
8/9/2020 12:29:19 pm

Thank you for explaining that our driving history will impact our chances of auto insurance. My brother is planning to change his auto insurance. Thankfully, his driving excellent is great as he never got a ticket or involved in an accident!

Reply
Franklin White link
8/11/2020 11:24:55 am

Thanks for pointing out how insurance companies will look at how much your car compares to the average car and base your premium on that. I have always wondered how they choose how much your insurance will cost. It's good to know that they won't charge too much if you have an average vehicle.

Reply
rachel frampton link
8/26/2020 07:14:19 pm

I'm planning to purchase an SUV this coming month, which is why I'm also shopping for auto insurance, so I'll be protected, just in case a damage occurs. I never knew that the more expensive the car is, the higher my premium will be. Thank you for also elaborating here that users will check my driving history before providing me a quote.

Reply
Kristofer Van Wagner link
9/28/2020 09:32:58 pm

It never occurred to me that our neighborhood can influence the rate of our auto insurance. But now that I think about it, it makes total sense that an area with a high crime rate would have a more expensive insurance compared to a safer neighborhood. I will keep this information in mind for when I apply for auto insurance for my kids.

Reply
Kristofer Van Wagner link
10/7/2020 11:28:32 am

Thank you for explaining that the type of car that we drive can impact the cost of auto insurance premium. My brother recently bought a mustang for himself. Since he is planning to get insurance, I will remind him that it will influence his insurance cost.

Reply
newsronic link
10/12/2020 01:37:08 am

Deciding on how much car insurance you wish can be uncertain. You’ll have to be know how much scope the law requires you to have and guarantee you’ve got the acceptable range to make sure your resources and yourself. There is a need for car insurance are outlined to make sure you, your resources, others, and property within the occasion of a collision, robbery, or normal catastrophe. You pay a small each month for the comfort of knowing merely won’t have to pay an expansive entirety within the occasion of a disaster. Several following sorts of insurances are described above stated in this article that it is beneficial to decide what auto insurance you do need.<a href=” https://newsronic.com/”>Read more</a>

Reply
Taylor Hicken link
12/3/2020 09:21:25 pm

You made a good point when you shared that the insurance rate will be higher if the cost of repairing your car is expensive, especially if you choose to get the premium car brand. My brother just told me the other day that he is planning to get a car for himself since he has been using my dad's old one for quite some time and it is time for him to upgrade to a better one. I will suggest to him getting a vehicle that is affordable so the insurance rate will not be too expensive.

Reply
Adam Golightly link
12/10/2020 11:35:38 am

My cousin has been thinking about how she can take better care of her first car. She would really like to get the right insurance coverage from a professional in order to be more effective. I liked what you said about how history, and living in a more populated area can increase the insurance rates.

Reply
Eli Richardson link
1/12/2021 09:27:52 am

Wow, I never knew that a car insurance company measured your vehicle with your driving history. I'm thinking of purchasing a car, and I want to have it insured. Since I don't have a bad driving history, I think I don't need to worry about that, but it's interesting to know about. I think it's important for a company to know what kind of person's car they will insurance. Thanks for the information about what aspects affect car insurance rates.

Reply
Shaylee Packer link
1/15/2021 06:20:21 am

I didn't realize that part of the cost of your premium depends on how expensive your car is. My brother is looking to insure the first vehicle he has purchased on his own. I will have to let him know that insurance companies will look at his driving history as well as the worth of the car when determining his premiums.

Reply



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