Car Insurance
What determines your car insurance rates?
Credit Reports
Car Insurance companies can use your credit history to drive your insurance costs up. Forty-six states use this method to drive the costs up. The other four that do not use this method include: California, Massachusetts, Hawaii, and Maryland.
Driving History
Some car insurance companies use your driving record to determine your new insurance rate by using a point system. Tickets, accidents, or parking violations may make your rates rise.
Age, Gender, and Marital Status
Young/new drivers are always viewed as a higher risk. Married women typically have the lowest rates meanwhile, unmarried men usually pay the highest car insurance rates
Other Factors
Car Insurance rates are also determined by the type of car you drive, annual mileage, anti-theft devices installed, location and the deductible you are willing to pay, if you need to file a claim. Although you can't control all of the factors listed, you can cut the cost by checking your credit history for accuracy. Checking with your car insurance provider can save you a ton of money.