Auto Insurance Facts
What affects the price of Auto Insurance?
The cost of car insurance varies by insurance company and by: DeductiblesClick here Discounts
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What kind of car you drive
If You are buying or selling a car you will need to re-evaluate your auto insurance.Generally, the more expensive the car, the more you pay.
Where you drive
Generally, due to higher rates of vandalism, theft, and accidents, urban drivers pay more for auto insurance than those in small towns or rural areas.How much you drive
People who use their car for business and long-distance commuting normally pay more than those who drive less.Your age, sex and marital status
Accident rates are higher for all drivers under age 25, especially young males and single males. Auto Insurance prices in most states reflect these differences.Your driving record
Drivers who cause accidents generally must pay more than those who are accident-free for several years.Your credit history
Studies have shown that credit history is a powerful predictor of future auto insurance losses. Many insurance companies consider certain credit characteristics in addition to many other factors when determining an individual's auto insurance rate.What can I do to save money on my auto insurance?
If you're shopping for a car, consider how your choice will affect auto insurance premiums.Some insurers increase premiums for cars more susceptible to damage or occupant injury, and lower rates for those that fare better than the norm.
Ask about discounts for good students, insuring more than one vehicle, accident-free driving, and others.
Consider joining a car or van pool, or finding other transportation to work. If you reduce your driving mileage enough, you may lower your auto insurance premiums.
More Auto Insurance Facts You Should Know
Next to your home, your automobile is often the most expensive piece of property you own. As a result, it is important to seek the best value when buying your auto insurance. To ensure that you have the proper protection, there are a number of ways that you can reduce the cost of your auto insurance premiums while obtaining the coverage that you need including:Deductibles
Choosing higher deductibles for Collision and Comprehensive coverage is an easy and cost effective way to lower your auto insurance bill. In many cases, the premium savings realized by switching to a higher deductible may be enough to offset the cost difference of an increased deductible in just a few years.Discounts
- Multi-policy – By insuring your auto and home with our agency, you will receive a discount on your auto premium as well as your homeowners insurance premium.
- Multi-car – If you insure two or more cars with agency and they are owned and used by the individual and/or relatives living in the same house, you receive a discount.
Good drivers who have no accidents or violations receive the most competitive rates but there are other factors that can reduce your premiums even further including:
- Driver training – If you have a young driver under age 21 insured who has completed an accredited driver-training course, you will receive a premium discount.
- College student – Young, unmarried, full-time college students who spend most of the college term away from home without the use of an auto are eligible for this discount.
- Age 55 & over – Cars driven primarily by an insured who is 55 and over receive a discount on the Bodily Injury, Property Damage, Medical Payments, Personal Injury Protection, Comprehensive and Collision premiums.
- Accident Prevention Course (IL, NY, PA, TN, VA only) – If the principal operator is age 55, you may receive an additional discount in these states if you voluntarily and successfully complete an approved Motor Vehicle Accident Prevention Course.
You can save even more money on your auto insurance by choosing a vehicle with the following safety equipment:
- Passive restraints – If your vehicle is equipped with factory-installed automatic seat belts or air bags, you will receive a discount on the Medical Payments or Personal Injury Protection portion of your premiums.
- Anti-Theft devices – You may receive a discount on the Comprehensive portion of your premium if your vehicle has active or passive anti-theft devices.
- Anti-Lock brakes – Vehicles with factory installed anti-lock brake systems on all four wheels are eligible for this discount that applies to the Bodily Injury and Property Damage coverages.
