What Factors Affect My Auto Insurance Rates?

Several factors are considered when a company calculates your car insurance rates. One company may place more of an influence on a certain factor than others, while some companies may not even consider an aspect that a competitor does. For the most part, however, your auto insurance premium depends on the following:

The first determination most insurance companies consider is your driving record. If you have had accidents or serious traffic violations, it is likely you will pay more than if you have a squeaky clean driving record. New, inexperienced drivers will also have higher rates than those who have been driving for several years. Statistically, women are involved in fewer accidents and are ticketed less frequently and thus enjoy lower premiums than men as a group.

The more miles you drive, the more at risk you are for accidents. If your commute to work is quite the hike, you will pay more. If you drive only occasionally you will pay less.

Your location and where you store your vehicle can also affect the cost of your insurance. Typically, due to higher crime rates and more accidents, metropolitan drivers pay higher rates than those in rural areas. Those who park their vehicles in a garage will pay less than those who use street parking.

Some vehicles cost more to insure than others. Larger, higher performance vehicles will have higher rates than small, lower capacity cars. Similarly, safer vehicles often enjoy lower premiums than those with fewer features such as airbags and anti-theft devices.

Of course, the coverage you need and the type of insurance you want also affect your rates. A liability-only policy will be much cheaper than a comprehensive car insurance package, but it may not offer you the protection you need.

Knowledgeable, independent representatives at Lanoix Insurance are always available to answer any questions you may have about your car insurance rates. These experienced agents are able to suggest coverage options best suited for you and your vehicle and assist you in finding a variety of rate quotes from a number of providers, ensuring the policy you choose offers the best coverage at the most affordable premiums. Contact us to find out how you can obtain the best auto insurance rates available.