Are you new to the world of Automobile Insurance? Know that you aren’t the only one confused with the formula used to calculate your insurance rates. There are certain things that we know of that will surely affect how much you pay for your car insurance. One is the area that you live in. Rural areas are known to have fewer claims when compared to urban areas. If the urban area has high crime, rates can go up even higher. One reason for this is due to the possibility of auto theft. Your driving record also plays a part in your financial obligation to your insurer. Previous accidents and/or traffic violations will get you flagged as being a high-risk customer. Are you married? If so, expect to pay less for insurance. Insurance companies have determined that married people file fewer claims.
Age and gender will also play a role in your Automobile Insurance rates. Young drivers tend to file more claims than older drivers. If you’re male, expect to pay more since males file more claims than females. Sports cars and luxury vehicles are involved in more claims. Fortunately, there are some discounts that you can seek out that can lower rates. Some companies will offer you a discount if you prove that you participated in a driver-education course. Adding anti-theft equipment to your car may also qualify you for a discount. How much do you drive your car? If you only use your car for a couple of days out of the week, let your insurer know you are a low-mileage driver. Insurers know that people who drive fewer miles make fewer claims.
How old is your car? If you car is over 10 years of age, carrying just liability insurance may be the smart move. There are exceptions though. If your car has low mileage, it still might be valuable. If it gets stolen, you could be out a lot of money. Classic cars should have full coverage. Be aware that each insurer will have its own rating system. Don’t try to worry yourself about the details. Learning the basics is enough to get the best rates.
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