Car insurance
What Determines Your Car Insurance Rates?
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There are many factors that determines your car insurance rates. Your credit report can be used by car insurance companies to use your credit history to drive up your insurance costs. They usually use your previous driving record to determine your new rate by using a point system. Factors such as age, gender and marital status can also have an impact on your rate. Car insurance rates are also determined by the type of car you drive as well as annual mileage, anti-theft devices installed, your location and the deductible you’re willing to pay shall you need to file a claim.
Credit Report
Driving safely is the obvious way to bring down insurance rates, but are you also paying attention to your credit report? Discover the lesser-known factors that can influence your car insurance rates, from marital status to the score on your credit report.
Drive Safely
Perhaps the most obvious, car insurance companies usually use your previous driving record to determine your new rate by using a point system.
Age, gender, and marital status
New drivers are always viewed as higher risks when insuring and married women typically have the lowest rates, while unmarried men pay the highest car insurance rates.