Car insurance coverage is required by every state. You will want to get the correct coverage for yourself and/or your family. However, since premiums are not a single set rate, they can vary with a wide variety of many different factors. Here are just four of the factors that might affect your car insurance quotes.
The first factor is your driving record. Driving records of violations and tickets are a big factor in determining the premiums of your car insurance quote. People who have many records of traffic violations usually receive higher auto insurance costs. This is because car insurance companies do not want to spend their money paying for reckless, irresponsible drivers. Another major factor of a car insurance quote is the age of the driver. Drivers over the age of 24, in some states 25, will have lower rates than drivers under the set age in that state. The main reason is that a younger driver, who has less driving experience, is considered to be high-risk since they are more susceptible to making risky turns and speeding. They are also categorized as accident-prone, which means they should be held to paying higher auto insurance rates.
Furthermore, accidents also weigh heavily on auto insurance rates. Every time you are in an at-fault accident, your auto insurance rate increases drastically. This important factor allows the insurance company the new right to ask for an increase in auto insurance rates for one basic reason; your capabilities to commit an accident have just been proven.Lastly, the kind of car you drive is also a huge consideration when looking for car insurance quotes. Luxury cars have more expensive rates than normal cars do. Justifiably, the cost of repairs on luxury cars is usually more expensive. So, it seems fair for insurance companies to ask for higher rates. Also, in the case of theft, car insurance needs to pay for the cost of the luxury car, which is very different to the cost of non-luxury cars. For example, if you are deciding to get quotes on both a Chevrolet Corvette and a Chevrolet Malibu; you will find that the car insurance quote for the Chevrolet Malibu to be much cheaper than the Corvette. In the previous example, the Corvette, a luxury sports car, is considered a more highly sought after vehicle by car insurance companies than Malibu, a non-luxury car.
There are many minor factors such as location, credit rating, marriage, multiple drivers, etc. that can affect your car insurance quote. However minor, they still have some effect. But as you can see, the other four major factors weigh greatly on the type of car insurance coverage that you will have for yourself and/or your family.