Car Insurance

6 factors that influence your auto insurance

If you have recently received a renewal quote for your auto insurance, and it is higher than expected, it may be because one of the below factors has influenced your insurance policy…

1. Age

Insurance premiums are always generally higher for drivers under the age of 20 and over the age of 75. If you have recently celebrated a milestone or significant birthday, this may cause the price of your auto insurance to rise.

2. Marital status

Statistics suggest that married drivers are less likely to get into crashes. If you are recently divorced or have legally separated from a long-term partner, this may account for the rise in the price of your insurance.

3. New car

Naturally, the more expensive your car is, the higher your insurance will be. Individuals who have recently upgraded their car should expect their insurance to require upgrading also.

4. Credit score

Some insurance companies use your credit score to determine how trustworthy you are. If you currently have outstanding debts or your credit score has lowered significantly, this may affect your insurance premium also.

5. Address

If you have moved house, this may cause your auto insurance to rise for multiple reasons. For example, you may have moved further away from your place of work, while this may not seem like a big deal, an insurance company will see a longer commute as a greater chance you will get into an accident. You may have also moved into a house without secure parking or a garage, raising your insurance rate further.

6. Driving record

Drivers who have been involved in driving accidents and have unpaid parking tickets are seen as greater risks to insurance companies. If you have recently been involved in a driving accident, you should expect this to influence a quote from an auto insurance company.

What to do if you have been given a surprisingly large auto insurance quote?

Regardless of whether or not you are happy with your auto insurance quotes from an insurance company, you should always compare auto insurance providers, to ensure you accept the best, most affordable deal possible. Alternatively, see our guide here on other tips on how to lower your car insurance policy.

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