Factors That Affect Insurance Quotes
If you are shopping around for car insurance, you may notice that you'll receive many different auto insurance quotes. Each insurance company compiles their prices differently, but there are several factors out there most use that may determine your insurance rate. These factors can greatly change how much you spend each month, so it's important to understand them as you shop around.
The first factor will be the type of car you're driving. If you drive an expensive car, you'll probably have to spend more on insurance. More expensive cars tend to cost more in repairs if damaged. Plus, there are certain models of cars that are more likely to be robbed or vandalized. Insurance companies will take these into account when coming up with a quote.
Another thing that auto insurance companies will take a look at is where you live. If you live in the city, you'll be priced accordingly because cars in urban areas are more likely to be hit or vandalized. Living in the country or an area that isn't as population-dense will mean lower rates. A long commute will also influence your rates.
Finally, your records will be taken into account for your rates. Your driving record and credit history will be reviewed, and if you have had accidents or missed payments, you will end up paying more. Also, things you can't control like your age, marital status, and sex will influence your rates. Unfortunately, those who are single males under 25 will end up paying more as they are statistically more likely to get into accidents.