Auto insurance rates vary in regards to several things such as people's profession, age, gender, marital status and locality in which they live. Most people have to pay less than $1,000 barring some unfavorable circumstances in the past such as a DUI conviction. Unfortunately, business people also fall under the category of large premium payers often paying more than $1,400 a month.
Factors Determining Auto Insurance Rates:
Auto Insurance rates vary considerably from one firm to another. Several factors determine a person's auto insurance rates.
Driving Record: Primarily, the driving record of a person plays a vital role in payment of premiums of an auto insurance policy. If a person is involved in an accident that is determined to be his or her fault then their rates are going to go up. Usually, this is because statistics suggest that, such drivers have repeat violations or accidents within 3 years.
For Drivers who have poor records and cannot find insurance coverage there are certain state regulated insurance plans known as 'shared markets' or 'assigned risk pools'. In these insurance plans, the state specifies a firm to offer insurance coverage for the high risk drivers. However, not all states have such plans and you will have to check with your home state's department of insurance.
Marital Status: It influences an auto insurance policy rate to some extent. Statistically, newly wed drivers have smaller numbers of accidents than young drivers. Hence, newly wed drivers pay lower premium amounts.
Location: Auto insurance rates vary in respect to locations as well. For instance, auto insurance rates in California differ from Texas Auto insurance rates. This is because of the risks involved, such as the risks of theft, accidents and weather. Rates also differ from one group of people to another. For instance, people who live in smaller towns, usually have fewer accidents than those people who live in large cities. Hence, they pay less for their auto insurance.
Age: It also influences auto insurance rates. As a rule, drivers who are below 25 years of age are more accident prone than older drivers, thus resulting in higher premium payments. Drivers between the age of 50 and 65 have the lowest accident rates and hence, they receive discounts.
Gender: It is quite common in most countries, that young males below the age of 25 pay higher premium amounts than females of a similar age. This is because, young men are involved in more accidents than young female drivers.
Family Members: Age, gender, martial status and driving records are not the only essential influencing factors. Other licensed drivers in family may have an impact as well. A young son, who drives the car, or a spouse with a poor driving record, is likely to increase the insurance rates of the whole family if they all use the same car.
Conclusion:
Auto insurance policies and the coverage options that a person chooses, affect the insurance rates and premiums paid. To avoid this, people can increase the deductible or eliminate a few frivolous options that are of no use.
Additionally, it is better to obtain and compare auto insurances companies' rates. Gather six or more online quotes. Make a comparative study and finalize one quote that best fits your own needs as a driver. Get started right now with either of the sites listed below.
Ian Wright can help you save money on your auto insurance premiums. The easiest way is to visit his sites about getting an [http://www.quick-online-insurance-quote.com/auto-insurance-company-quote-online.html]Auto Insurance Company Quote Online and how to get a free [http://www.quick-online-insurance-quote.com/auto-insurance-quote-online.html]Auto Insurance Quote Online.
Article Source: [http://EzineArticles.com/?How-Can-I-Save-Money-On-My-Auto-Insurance-Rates?&id=1030352] How Can I Save Money On My Auto Insurance Rates?
Saturday 16 July 2011
Thursday 7 July 2011
Best Deals on Auto Insurance - 2 Reasons You May Have a High Auto Insurance Premium
It is a fact. Money is tight. Some of us have overextended ourselves during the good times and now that the recession is in full force, many of us are having a hard time paying our bills. So now is the time to do whatever you can to lessen your financial burden and one simple way is to find the best deals on auto insurance, thus possibly lowering your monthly payment.
Just like all insurances, you hate to pay that monthly car insurance premium but if you are ever in need of it, you are sure glad it is there. Plus each state requires that you carry insurance on your car or else you could pay a hefty fine or have your license revoked. And nobody wants that.
But did you know that each car insurance company has their own set criteria when deciding how much your insurance is going to cost you? The most general guideline that insurance companies look at is what kind of car you drive. And if you want the best deals on auto insurance, then you may want to avoid driving a brand new Mustang GT, which will likely cost you more in monthly premiums, than say a Kia Sportage. And there area couple of reasons for that.
One thing that companies look at is how likely the car is to be stolen. If you car falls on the list of most stolen vehicles, then you will pay a higher monthly premium. Another reason why the type of car you drive matters to your insurance company is that some cars are notorious for being in accidents. These are usually the high performance type sports cars as those who drive these types of automobiles like to drive faster than those who drive other types of cars, thus putting them into a higher number of accident category. So driving a flashy sports car may not be your best option when trying to acquire the best deals on auto insurance.
But even two people of the exact same age driving the exact same car will sometimes pay a different premium depending on things such as their credit score and where they are located. So if you are looking for less expensive auto insurance, you may want to be sure that your credit score is also above average. And the reason that insurance coverage can be more costly for someone with a lower credit score, is that they are felt a higher risk and less responsible than someone whose credit score is in the higher range. Even though this may not be true, this is a criteria commonly used by some auto insurance companies.
So the easiest way for you to find out if you are getting the best [http://edharperinsurance.com]deals on auto insurance is to get multiple quotes from a variety of insurance companies. And if you are in the market for car insurance and want to get quotes from multiple companies fast and easy, then just visit [http://edharperinsurance.com]Ed Harper Insurance.
Article Source: [http://EzineArticles.com/?Best-Deals-on-Auto-Insurance---2-Reasons-You-May-Have-a-High-Auto-Insurance-Premium&id=3946359] Best Deals on Auto Insurance - 2 Reasons You May Have a High Auto Insurance Premium
Just like all insurances, you hate to pay that monthly car insurance premium but if you are ever in need of it, you are sure glad it is there. Plus each state requires that you carry insurance on your car or else you could pay a hefty fine or have your license revoked. And nobody wants that.
But did you know that each car insurance company has their own set criteria when deciding how much your insurance is going to cost you? The most general guideline that insurance companies look at is what kind of car you drive. And if you want the best deals on auto insurance, then you may want to avoid driving a brand new Mustang GT, which will likely cost you more in monthly premiums, than say a Kia Sportage. And there area couple of reasons for that.
One thing that companies look at is how likely the car is to be stolen. If you car falls on the list of most stolen vehicles, then you will pay a higher monthly premium. Another reason why the type of car you drive matters to your insurance company is that some cars are notorious for being in accidents. These are usually the high performance type sports cars as those who drive these types of automobiles like to drive faster than those who drive other types of cars, thus putting them into a higher number of accident category. So driving a flashy sports car may not be your best option when trying to acquire the best deals on auto insurance.
But even two people of the exact same age driving the exact same car will sometimes pay a different premium depending on things such as their credit score and where they are located. So if you are looking for less expensive auto insurance, you may want to be sure that your credit score is also above average. And the reason that insurance coverage can be more costly for someone with a lower credit score, is that they are felt a higher risk and less responsible than someone whose credit score is in the higher range. Even though this may not be true, this is a criteria commonly used by some auto insurance companies.
So the easiest way for you to find out if you are getting the best [http://edharperinsurance.com]deals on auto insurance is to get multiple quotes from a variety of insurance companies. And if you are in the market for car insurance and want to get quotes from multiple companies fast and easy, then just visit [http://edharperinsurance.com]Ed Harper Insurance.
Article Source: [http://EzineArticles.com/?Best-Deals-on-Auto-Insurance---2-Reasons-You-May-Have-a-High-Auto-Insurance-Premium&id=3946359] Best Deals on Auto Insurance - 2 Reasons You May Have a High Auto Insurance Premium
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