Some factors that impact your car insurance premiums
Car insurance premiums are linked to the type of car driven. If you’re buying or leasing a new vehicle, check the auto insurance rates before you make your final choice. For example, SUVs, convertibles and performance vehicles typically cost more to insure.
Safety devices on your vehicle can help reduce your car insurance premiums. If you’re buying or leasing a new vehicle, consider getting one with anti-lock brakes, side air bags, automatic seat belts and daytime running lights.
Anti-theft devices on your vehicle, such as an alarm system and global positioning system – so that your automobile can be located if stolen – can help reduce your premiums.
Where you park your vehicle can also impact premiums. If you have access to an indoor garage or locked parking lot – places that decrease the likelihood that your automobile will be stolen – you may qualify for lower car insurance premiums.
The geographic region in which you live may impact your premiums. For example, areas prone to extreme weather – hail, wind storms, hurricanes, etc. – higher traffic patterns or higher risk of theft may have higher auto insurance rates. If you live in an area prone to extreme weather, check whether your insurance policy includes comprehensive coverage on your vehicle to cover potential damage from storms.
Your driving record – tickets, accidents, DWIs/DUIs (driving while intoxicated / driving under the influence citations) – directly affects your insurance premium.
The number of claims you have previously filed impacts your auto insurance costs. Consider not filing claims for smaller events to avoid premium increases.
The cost of your insurance is linked to your policy’s deductible. The deductible is the amount of money that you agree to pay as part of a claim before your insurer pays the remaining amount toward that claim. For example, if your car incurred $1,000 of damage in an accident and your deductible was $250, you would pay the first $250 and your auto insurer would pay the remaining $750. The higher the deductible, the lower the insurance premium.
Dec 14, 2008
Some factors that impact your car insurance premiums
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