Are you searching for car insurance? You’re not alone. Many people wonder why they lived in one area, and their rates were significantly lower than when they moved to another area. There’s definitely a reason for that. There are a number of things going on in the background that contribute to what your insurance policy rate will be. Knowing these factors can help you better prepare and make adjustments as you need. Take a look:
Major Factors to the Cost of Car Insurance
- Credit score
Your credit score plays a huge role in the rate you receive. Although many people don’t think their credit has anything to do with their insurance rate, insurers look at your credit score as an indicator of whether you’ll be a risk.
- Driving history
All those times you’ve been riding like the wind can surely catch up with you if you have a ton of tickets or a few DUIs.
- Car insurance claims
The claims you file on your vehicle follow you. Insurance companies take this into account when determining your policy rate as well. While those claims may not have been due to any fault of yours, they still consider having to pay claims as a risk.
- Vehicle type
The type of vehicle you drive matters. Insurance companies look at sports cars, cars that have high repair costs, and those that have a track record of thefts as high risk. Those risks trickle down to your insurance policy.
- Where you live
As stated before, you may find that your insurance rate fluctuates when you move from one area to the next. Different states have different regulations, and insurance companies also evaluate what goes on based on zip code. You can move down the street into a new zip code and see a significant increase or decrease.
- Age of driver
Have a kid still in high school and driving? What about a college student? Age matters, especially to insurance companies. They see young people as high risk, accident prone, and willing to take more chances behind the wheel. Young men are especially more expensive to insure.
- Marital status
Walk down the aisle and into savings on your auto insurance. Married couples get significant discounts for a number of reasons. If marriage is in your near future, you’ll be getting a discount.
Burstad Insurance Can Help!
If you’re looking for great insurance rates, the team at Burstad Insurance can help! Servicing Wisconsin clients in Menomonie, New Richmond, Medford, River Falls, and Chippewa Falls, you’ll get all the information you need to make the best decisions. Our team also finds discounts that help offset any of those factors that may raise your rates.
Don’t leave your auto insurance policy rates to chance! Work with a team that is dedicated to making sure you and your wallet are happy. For more information on policy rates and what may affect your car insurance quote, contact us and speak with an agent today!
