If ever you would have compared your insurance policy with your relatives, neighbor or friends then you would have found that you are paying different premiums from them for the same coverage. There are many factors that alter the car insurance rates and sometimes these factors make one person to pay double or triple times than the other person. These factors varies from personal characteristics to different vehicle features and accessories to driving record, but one thing is common in all these factors and that is all of them are indicators of risk. To insurance companies these factors show your chances of indulging in an accident.
Factors affecting your car insurance
Age: drivers under the age limit of 25 have the maximum chances of getting involved in accidents and those between the age limit of 50-60 have the lowest chances of getting involved in accidents.
Masculinity:
Records show that usually more number of men is involved in accidents then women. But the difference is not that vast that it was once.Vehicle's specifications: year of manufacture, model number, design are the various specifications. As the technology is advancing day by day so newer cars means faster speed and that to indicate increase in accidents.
Marital status:
A married person would have to pay less than the unmarried one.Driving record: more the number of traffic fines on you the more you will have to pay for your
Car insurance.
Area of residence: A person who is put up in urban areas is more prone to accidents or getting his/her car damaged more than the person who is put up in rural areas.
Things to do that can lower your car insurance rates
If you are finding it difficult to pay for your car insurance or trying to reduce it to as max. as possible so you should follow some steps to reduce them and some of those steps are discussed below: drive a safer vehicle that is it should be less powerful, average in speed etc. driving a less powerful normal vehicle as compared to suv and high speed cars will surely help you to save
Your money.
Try to improve the status of your credits. Get your expenditure under control and pay your bills on time that will help you improve your credit status and that will ultimately lead to reduce your insurance premiums. Best alternative way to find out cheap insurance is to check out the rates of all the possible companies and then to decide the one that provides cheapest car insurance.