What Do You Need to Know
Age. This aspect always plays a great role in premium determination. The secret is that most insurers monitor statistical data about the latest accidents and drivers’ age and so may increase the rates because of such information. What’s more, inexperienced drivers and young people under 25 are always required to pay higher premiums since they are considered as high-risky. As soon as you come out of this age, you can count on good discounts ‒ it refers to many insurance companies. From this very moment and till 65 years, this rate may become lower and lower year after year.
Gender. This fact appears to be a determining one in combination with the age since stats say that young male drivers prefer to drive in a more aggressive way than ladies of this age that are most likely to be even too polite and slow. To add to it, male drivers of senior age constitute the safest and most reliable drivers, while women of this age group take the 2nd place after them.
Driving experience. The number of years you have in your driving license has a great impact on the rates. Also, we should mention such a factor as the time period during which you have been insured. The main rule looks this way: the longer you have your driving license, the cheaper your premiums will be. For this reason, it’s better to get your first insurance at the age of 16 so that you could have an imposing number being accelerated faster.
Previous accidents. If you had some driving violations or tickets during the last years, you may be asked to pay more. Pay attention that parking tickets are not included here as they are not connected with risky clients. If you had some at-fault accidents or crashes, it’s most likely that you will be offered higher premiums. Still, those accidents that happen not because of your fault won’t have impact on your rate.
Residential address. The residence explains your rates as well because big cities feature high traffic and so crashes occur more often, while small and distant towns dispose of more slow and calm driving speeds.
Credit score. This aspect is checked not by all insurers, but most of them for sure. Your credit score shows how responsible and reliable you are by demonstrating your financial possibilities.
Make, model, and other technical parameters of your vehicle. The car you drive is one of those factors that influence the rate dramatically. When you own a sporty or another expensive car of this type, you will pay high premiums because of its cost and class. As for other cars that are bought more frequently, insurers prefer to check stats in order to find out models and makes which are more risky. If your model is often vandalized or stolen, you also should be ready to wait for big rates. Thus, engine, brakes, tires, and even suspense ‒ everything will be analyzed and considered.
Mileage per year. If you are going to drive a car every day or even set up a big journey, insurers will increase rates. On the other hand, those drivers who take a car several times a week or even rarer may expect lower premiums.
Type of driving. As all drivers beware of those who make it in an aggressive way, so insurance companies don’t welcome them. This aspect also refers to the purpose of driving. For instance, commercial needs always make you drive a car more often.
Parking. If you can provide some information about garage or underground parking, it will assist you in paying less. If you park your car outside the house or near your apartment building, you will be charged more.