What Factors Impact Your Auto Insurance Rate?

Influencing factors insurers look at when determining your car insurance rate.

When you’re looking for a new car insurance policy, you’ll understand that it can be a minefield of looking at different policies and seeing different rates. Auto insurance policies vary by insurance company, and insurers will take a look at certain factors before determining your premium. So that you’re in the know, here are a few factors that impact how much you pay for auto insurance.

The type of car. The more your vehicle’s worth, the more it will cost to repair or replace it if you’re involved in an accident. You’ll pay more for a new car than a used car. You’ll also pay more for auto insurance for a luxury car than for a more basic make or model.

Coverage and deductible. If you choose to purchase more coverage, you will pay slightly more each month. The same goes for lower deductibles. On the other hand, if you choose a higher deductible, you’re choosing to take on more responsibility for the expenses in a claim. This will often be rewarded with a lower premium.

Driving and claims record. Have you been involved in one or more accidents in recent years? Do you have a speeding ticket or two on your record? Do you have a speeding ticket or two on your record? These things can drastically affect your premium. Be sure to always drive safely and obey traffic laws if you want to get the best insurance rates.

Age and gender. For better or for worse, men are known to have more accidents than women. Teens that are just beginning to drive are at a higher risk than any other age group. The general rule is that with more years of experience of driving (with no claims) under your belt, the lower your premiums will become.

Are you looking for quality auto insurance coverage? Visit the team at McCarty Insurance, serving Fresno and neighboring cities in California with affordable policies.