With the challenging economy more and more people are trying to cut expenses out of their budget. Many look to their auto insurance as a way to save a few bucks. In order to cut your car insurance expense you need to know what factor determine those rates.
Here are a some factors that determine your auto insurance rates:
Your Age – Your age affects how much you pay in auto insurance. People under 25 will pay more than people over 25 because they tend to get into more accidents. They are more expensive to insure because of it. With all else equal, motorists in their 50′s and 60′s pay less in insurance because they get in fewer accidents than other age ranges.
Your gender no longer plays a huge role in rates. More and more women are driving then in the past and they are just as big of a risk as men.
Are you single? If so and with all else equal, your car insurance is probably going to be more expensive than your married counterpart. Married people tend to have fewer accidents so naturally insurance companies don’t need to charge them as much.
Geographical Location – The city and state you live in is an important factor in determining your auto insurance premiums. Rural areas tend to be less expensive than a dense city location because there are fewer cars and less of a chance of getting into an accident. There is also probably a smaller chance of vandalism or theft in a more rural setting.
How’s your driving record? You driving record will obviously play a part in how much car insurance you pay. If you have never been in an accident and don’t have many traffic citations then you can count on paying less than someone who has several accidents and traffic tickets on their records. If you want to enjoy lower rates then drive more carefully and maintain a clean, always drive safely and maintain a clean record.
The car you drive – What kind of vehicle you drive affects the amount of insurance you pay. From its make, model, year, safety devices and features, to the mileage can either increase or decrease your car insurance premium. If you were an insurance company who would you charge more for insurance? The guy who drives a $75,000 Mercedes or someone who drives a $2,500 El Camino?
Locating Cheaper Car Insurance:
Before buying or renewing your current auto policy shop around. You can shop on the internet, contact your local insurance agent or call the 800 number of a large carrier. Don’t assume all companies are going to charge you about the same rates. You might find some large discrepancies.
What is nice about the internet is that you can comparison shop by getting multiple quotes at the same time from various insurance companies. This will help you compare various companies and policies quickly.
If you work better off of a personal relationship then contact your local insurance agent. They live in the same town as you and can give advice on the best auto policies. You might find it better to work with someone locally than a person on the other end of an 800 number. Also, if you ever have to file an insurance claim you might be better off dealing with a local insurance agent.
Slade Tanner – Tampa Car Insurance
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