Save Money: 5 Factors in Car Insurance Prices

Money, money, money. It’s everywhere but we always need more of it. There are many factors that go into car insurance rates. We can’t say it’s a simple formula. However, it is not hard to bring your payments down by following some general guidelines.

There are 5 basic aspects companies look at when determining your rate:

  1. Your car. More “luxury” and bigger engines tend to come with higher insurance rates. Find a car that is safe, as judged by the IIHS, but isn’t a luxury brand. You can find reasonably priced cars in this category if you look around.
  2. Auto Insurance claims. Insurance companies believe that the more accidents you have, the more likely you are to have another one. Drive safely!
  3. Your driving record. If you abide by the law you’ll be fine. Speeding tickets and DUIs will make your rates jump. Again, drive safely!
  4. Usage. Work, pleasure or business? The more you drive, the more likely you’ll be in a car accident. Insurance agencies usually ask how much you’ll drive in a typical month. Find a way to drive less.
  5. Your credit score. Insurance companies are now using your credit history when determining your insurance rate, Pay your bills on time.

It may seem like you’ll never get the rate your want, but be patient and follow these guidelines. You’ll eventually start to save money. Are you ready for find that affordably insurable car? Get started by clicking here and selecting your preferred vehicle.


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