5 Things that influence car insurance

19 Jan 5 Things that influence car insurance

Who you are can have a direct impact on your automobile insurance rates more than you may know.

#1 Credit Score

            In some states insurance rates are influenced by a driver’s credit score. Studies have shown that there is a strong correlation between people with poor credit scores and auto losses on their auto policy. So if you live in a state that uses credit scores when determining rates, you may be paying more if your credit score isn’t up to snuff. 

#2 Gender

            Males are at least 50% more likely to be cited for reckless driving than females, so males usually have higher insurance rates than females.

#3 Occupation

            Certain jobs or degrees can help lower your auto insurance rates on your policy. Teachers, people in the military, medical professionals such as nurses and doctors often can quality for discounts on their insurance. 

#4 Marital Status

            Married couples tend to have fewer claims than single people so most companies offer a discount to married couples .However, if you or your spouse has a poor driving record that may mitigate any savings you had.

 # 5 Age

            Age is a key factor in insurance rates. Teenage drivers or drivers under 25 tend to be more prone to accidents and therefore have higher rates.