10 Factors Affecting Car Insurance Prices

​As it is mandatory in most cases, you have to have auto coverage. You might wonder why the prices differ compared to others who have the same policy as yours. There are factors to consider when calculating the cost of car insurance. 

Below are the 10 factors affecting the cost of the coverage you currently have.

1. Age
   For young drivers, the insurance will be much higher. It’s because they are more prone to accidents compared to an older driver. Most young inexperienced drivers are also reckless.  Beyond the age of 20, the age factor becomes less of a consideration for insurance.
   
   
2. Driving History
   Driving history, most especially highway tickets, are violations that make the insurance rate go higher. The past driving performance will also be looked at as a predictor for future driving performance.
   
   
3. Credit Score
   One thing to consider is the credit score that predicts your future behavior for claims. People with a high credit score are more predisposed to have claims in the future than people with low credit scores.
   
   
4. ZIP
   Regardless of your social status, you are at risk of getting into accidents. However, people who live in metropolitan areas also have a higher risk of car accidents than in suburbia.
   
   
5. Marital Status
   Drivers who have spouses are more likely to share driving duties. The difference between car insurance rates for married, divorced, single, and widowed drivers is minimal.
   
   
6. Gender
   For young male drivers, they tend to drive recklessly more than their female counterparts and are more expensive to insure.
   
   
7. Type Of Car
   The type of car you drive is important when setting up your car insurance. There’s an assessment for repair costs, theft claims, and comprehensive claims. Brand new sports cars have the highest insurance rates.
   
   
8. Car Insurance History
   If you’re a new driver, the risk is higher and so is the insurance rate.
   
   
9. Vehicle Ownership
   The vehicle will be evaluated whether it’s owned, leased, or financed. The insurance premium will depend on the type of ownership.
   
   
10. Coverage Selection
    The major factor in your car insurance is the coverage selections. Don’t settle for the bare minimum.

Conclusion
These are the factors affecting your auto insurance. If you may have difficulty understanding why your insurance rate is high, take time to read this again. To know exactly what your coverage does or does not include, chat with your agent. They are happy to help!

At Priority Insurance LLC​, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (864) 297-9744. You can also request a free quote by CLICKING HERE.