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What impacts my auto insurance policy rates?

Driver History:
Your driver history includes any violations, departmental actions, accidents, etc. Having moving violations like speeding tickets, DWI’s or reckless driving puts you in the higher risk category and can adversely impact your auto insurance policy premium rate. If you have been in an accident where you were at fault, it will considerably raise the auto insurance quotes you receive. Some companies penalize the drivers for up to five years after the accident, and many companies offer auto insurance policy discounts for drivers who have not had an accident or received any tickets for a specified number of years.

Family:
Statistics show that married drivers have fewer accidents and therefore a married person will pay a lower auto insurance policy rate than a single person with the same driving record. However, other licensed drivers in your household and on your policy will also affect your auto insurance rates. If your spouse has a poor driving record or if you have a teenage driver in the family, that is likely to increase your auto insurance rates.

Age:
Statistically, drivers under the age of 25 are at a greater risk of being in an accident than those over age 25. Drivers between the ages of 50 and 65 generally have the safest records. Past the age of 65, accidents seem to increase and auto insurance rates generally begin to rise again. People over 70 may have trouble finding an insurance company that will provide them with coverage, and even if they do find one, policy rates will be very expensive.

Make and Model of Your Car:
The kind of car you drive will also directly impact the auto insurance policy rates you receive. Certain car or truck models may be considered more risky by insurance companies because of higher maintenance costs, being frequently involved in accidents, or for being popular with car theives. So a cheaper car would cost less to insure than a status symbol SUV. Owning one of these cars may double your collision and comprehensive auto insurance policy premiums. High-performance cars and sports cars also usually cost more to insure. Be sure to check with your auto insurance company for an estimated coverage quote before buying a new or used car. Discounts are given for safety features such as airbags, anti-lock brakes, anti-theft systems, and daytime running lights. Living close to your workplace could reduce auto insurance rates as well. Some companies give discounted auto insurance rates for “occasional use” vehicles based on the mileage.

Geography and Location:
Auto insurance rates vary from state to state. Even within a state auto insurance rates might vary between locations. For example, if you live in a rural or a less congested area with little traffic, you would pay a lower premium than if you live in a suburban area with more traffic and a higher rate of accidents and vehicle theft.

Gender:
Statistics show that men under the age of 25 are three times more likely to be involved in a fatal accident than women of the same age. So a man under 25 will generally have to pay a higher auto insurance premium than a woman of the same age.