What Determines Your Car Insurance Rates?

CAR INSURANCE What determines your insurance rate? TYPE OF CAR Make & Model 1 Percent of people think color affects the price. 25 IT DOES NOT. High powered, luxury, & “high-target" cars have higher premiums. AGE High Risk 2 25 and under pay higher. 70 and over pay higher. DRIVING EXPERIENCE - Driving record - Have you had a policy before? - Switching insurance companies? (Often new ones give you a better deal.) USAGE DRIVING RECORD 4 (higher mileage, higher premiums) - Miles a year - The better your driving record, the better your premium. YOU CAN SAVE UP TO 25% 68,000 WITH A SAFE RECORD LOCATION Average Cost is $791 - Vandalisn - Theft - Accidents - Higher rates in urban areas SOUTH DAKOTA $525.16 Least Expensive NEW JERSEY $1,157.30 Most Expensive CLAIMS HISTORY How many claims you've made: ON AVERAGE A DRIVER MAKES 17.9 YEARS AN ACCIDENT CLAIM EVERY LOYALTY 8. The more types of policies you have with one company, the less they cost. YOU 9 Your Occupation Determines Your Rate: HIGH Real Estate Brokers, Social Workers, Executives, Business Owners LOW Scientists, Pilots, Actors, Artists A Married people pay less BETO 50% AND $1,500 Good students Get discounts DISP 720+ Good credit will get you a better rate SOURCES: http://www.lil.org/facts_statistics/auto-Insurance.html http://personal-finance.thefuntimesguide.com/2010/07/auto_insurance_rates.php http://www.cars.com/go/advice/Story.jsp?section=ins&story=insurance-bill&subject=cover&referer=advice&aff=pe http://thelawdictionary.org/article/how-expensive-are-car-insurance-rates-for-married-people/ http://www.dmv.orginsurance/how-occupation-affects-auto-insurance-rates.php http://www.carinsurance.com/Articles/How-many-accidents.aspx http://www.edmunds.com/car-loan/car-financing-in-a-recovering-economy.html Christopher KIA.