If you have noticed your auto insurance rates changing lately, it is likely for a specific reason. The truth is that there are quite a few factors that go into raising or lowering your bill. Consider these factors when you shop for a new automobile insurance provider so that you aren’t surprised.
1. Prior Driving Violations and Accidents
An insurance company will call into question your driving record in determining whether you deserve a lower rate. The higher the risk you appear to be, the higher your rates are likely to be.
2. Your Location
Did you know that your rates are more likely to increase if you move to a busy city than out of the country? It makes sense; more drivers on the road means that you are more likely to be in an accident.
3. Your Relationship Status
Believe it or not, your current relationship status could affect your rates. In general, people who are married tend to have fewer traffic accidents.
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4. Your Sex and Age
Insurance companies tend to factor sex and age into their decisions regarding rates, and young males tend to get the short end of the stick thanks to the intersection of two risky factors.
5. Your Mileage
The higher your mileage each year, the more risk you carry. This is typically why your insurance provider asks for an update on your mileage each year.
6. Your Car
The make and model of your car matter, especially because certain types of vehicles carry higher risk. Sports cars and luxury vehicles tend to experience more claims than others, so the rates are adjusted accordingly.
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.