Car Insurance News
“What Determines Your Car Insurance Rates?”
What determines it?
Credit Reports, Driving History, Age, Gender and Marital Status, Other Factors all determine the rates of car insurance
Credit Reports
Car insuance companies use credit history to help determine costs.. Forty six states allow car insurance companies to use your credit report to increase your rates. California, Massachusetts, Hawaii and Maryland are the states that don't allow this method.
Age, Marital Status, and Gender
Gender, age, and marital status can affect insurance cost. Unmarried men pay the highest cost, while married women have lower costs. New or young drivers, usually pay higher fees too.
Driving History
Driving history is mainly determined by where you live and the actual infraction, and any tickets, accidents an parking violations always make your car insurances rates rise. Insurance companies use previous records to determine new costs/ rates in a point system.
Other Factors
Other factors are 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. You also can cut your cost by checking your credit history for accuracy, and don’t forget to check with your car insurance provider when it comes time to renew. Improvements in your credit score or a decrease in how far you drive could also mean you saving more money.