It is a common belief that the color of your car will affect the rate of your car insurance. This, however, is a misconception. The color of your car in no way changes the rate of your car insurance, though there are several other factors that can increase what you have to pay for car insurance.
Car insurance rates increase when the driver is under the age of 25. Studies have shown that younger drivers incur more traffic violations and get into more accidents than their older counterparts. Statistically, teen drivers in their first year of having their license are more prone to getting into an accident than those who have been driving for a few years. Another factor affecting insurance rates is the sex of the driver. While some find this qualification unfair, car insurance companies believe that younger male drivers are more likely to get into an accident than female drivers of the same age.
Car insurance companies will also base their rates on where the driver lives. A city with a high rate of crime and vandalism increases insurance rates. Due to the chances of a car being stolen or defaced in such a city, car insurance companies jack up their rates to account for this possibility. In conjunction with where you live, the type of car you drive also determines your car insurance rates. The nicer the car, the more appeal it has and the more likely it is to be broken into or stolen, which will increase your car insurance rate. Sports cars have a high car insurance premium based on the fact that many people might try to steal them, or because many people who drive sports cars incur more traffic violations, which can cause accidents.
Lastly and most understandably, car insurance rates are largely based on an individual's driving record. The better the driver, with few to no violations on his or her driving record, the lower the premiums will be. Every year a driver goes without submitting a claim to his or her car insurance company and having no points on his or her record is another year that car insurance rates will drop. On the other hand, the more claims a driver submits to the insurance company, the more probable it is that car insurance rates will increase dramatically.
There are smaller factors that can play a role in what changes the rate of car insurance, such as the amount of driving done per year and how far the driver travels on a daily basis, but these factors are not weighed as heavily as the age, sex, location, and ability of the driver in question.
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