State coverage requirements, age, and the brand and model of the car are the most important elements that influence car insurance premiums. The more coverage your state requires and the higher the value of your vehicle, the more you'll pay for auto insurance.
Your place of residency is one of the most important factors affecting vehicle insurance costs. Each state has its own auto insurance rules, requiring varying minimums and different types of coverage.
Young drivers pay higher auto insurance premiums since they are considered inexperienced and more likely to be involved in an accident. After the age of 25, a driver's insurance costs begin to fall. Senior drivers, on the other hand, are frequently taxed more after they reach the age of 65.
On average, a truck is 3% less expensive to insure than a sedan. Car insurers prefer to insure safe vehicles since they are less likely to result in costly claims. As a result, a car with good safety ratings may be eligible for a discount.
Compared to what you were paying before, traffic offenses and car accidents can raise the cost of car insurance coverage by anywhere from 20 to 200%. The amount by which your rates rise is determined by two factors: the seriousness of your offense and whether you've been convicted before.
The more time you spend on the road, the more likely you will be in an accident. So your annual mileage may affect your auto insurance costs. As a result, if you have a long daily drive, auto insurance companies will charge you extra.
In most jurisdictions, your credit history plays a significant role in determining premiums, as drivers with a negative credit score pay an average of 71% more than drivers with good credit.
Your driving record affects your insurance premiums, for better or worse. Because of the availability of safe-driver discounts, drivers with a clean record may end up paying 40% less than those with a poor record.
Insurers take your location into account because it directly affects the chances of your vehicle being damaged. Depending on where you work or park your car at night, you may be eligible for a minor discount (or upcharge).
When it comes to vehicle insurance costs, your marital status plays a crucial role because married drivers are statistically safer drivers and have 50% fewer auto accidents than all other drivers.
In some states, gender is a factor that influences auto insurance rates. For example, men around the age of 45 pay 6% less for automobile insurance than their female counterparts. Teenage male drivers, on the other hand, tend to spend the most on auto insurance overall.
At Liberum Insurance, we can assist you with customized auto insurance coverage for your unique needs. If you've been looking for the best car insurance rates in your area, reach out to our team today!
Liberum Insurance is an Independent Agency. We have access to top A-rated carriers so we can provide great coverage at competitive rates. Our priority and fidelity are to our clients first.
