Car Insurance Premiums
Most people are looking for low car insurance premiums. The choices you make about the coverage you want contribute to the cost of your car insurance premium.
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Companies may look at a variety of factors to determine your car insurance premium including:
What You Buy
- Which coverages you buy
- The deductibles
Find out more about types of car insurance coverage.
What Kind of Car You Drive
If you are buying or selling a car, you will need to re-evaluate your insurance needs.
Generally, the more expensive the car, the higher the car insurance price.
Where You Live
Generally, due to higher rates of vandalism, theft, and accidents, urban drivers pay a higher car insurance price 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 a higher car insurance premium than those who drive less.
Your Age, Sex and Marital Status
Accident rates are higher for all drivers under age 25.
Your Driving Record
Accidents, regardless of fault, may impact the rate. Drivers in accidents generally must pay higher car insurance premiums than those who are accident-free for several years.
Your Credit History
Credit history has been shown to be a powerful predictor of future car insurance losses. Many insurance companies consider certain credit characteristics in addition to many other factors when determining an individual's car insurance premium.
What Can I Do to Save Money on My Car Insurance Premium?
If you're shopping for a car, consider how your choice will affect car 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 car insurance 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 car insurance price.
See Available Discounts
Rates, rating factors, and coverages vary by state.