Know What Drives your Auto Insurance Rates

Know What Drives your Auto Insurance Rates THE HARTFORD Affordable auto insurance may seem impossible without sacrificing quality coverage, but some companies offer exceptional coverage, features and services, all wrapped into one package. And along with that the discounts make car insurance policies even more appealing Ways To Save On Auto Insurance If you've completed an approved defensive driver course, you're eligible for an auto insurance discount Defensive Driver Credit Receive a credit on your premium for drivers under 21 years old who successfully complete an approved training course Driver Training Credit Car insurance has a discount for cars with automatic air bags. If your car is equipped with more than one air bag, you save Air Bags Discount even more If you have active or passive anti-theft devices on your car, it can save you money on your comprehensive coverage Anti-Theft Device Discount Good students can help with affordable auto insurance. Get a credit for full-time student under the age of 25 who owns or operates a vehicle insured by The Hartford and qualifies as a good student Good Student Driver Credit If you have homeowners insurance, condo insurance, or renters insurance with The Hartford, as well as auto insurance, you can save significantly on both Home & Auto Insurance Bundle Insurance Rates 1. Bullhead City, Arizona $730 $731 $731 $733 $733 $734 $735 2. Chloride, Arizona 3. Oatman, Arizona 4. Pine Point, Maine 5. West Scarborough, Maine 6. Lake Havasu City, Arizona 7. Cumberland Foreside, Maine $736 $736 $736 8. Amity, Maine 9. Ashland, Maine 10. Blaine, Maine $4,214 $3,953 $3,947 $3,819 $3,709 $3,504 $3,443 $3,385 $3,233 $3,213 10. Springfield Gardens, N.Y 9. St. Albans, N.Y 8. Allison, Texas 7. Bronx, N.Y 6. Grosse Pointe Park, Michigan 5. Detroit, Michigan 4. Brooklyn, N.Y 3. Fort Hamilton, N.Y 2. Hamtramck, Michigan 1. Highland Park, Michigan Factors Influencing Auto Insurance Rates Couples tend to have less accidents, report fewer Sports and Luxury cars are Men (younger than 26) are more prone to accidents. People under 30 and over 75 have more more prone to accidents and are stolen more often claims accidents than all others Liability rates continue to rise as the cost of medical Large Cities invite higher insurance rates because of care and vehicle repair continue to rise more traffic and greater risk of thefts How Do Auto Insurance Discounts Work? 1 2 Insurance companies use information like where you stay (your zip code), how old you are, your driving history and the model of your car to determine your base rate. It's important to shop around for car insurance as base rates not only differ according to the state you stay in, Insurance companies will determine whether you are more than an average risk driver based on the information you provide. If you pose less than a typical risk, you might be eligible for a discount off the base rate for those factors but from insurer to insurer as well 3 Discount However, if the insurance company thinks that you might be a risky proposition for them, meaning that you're more likely to make a claim Depending on various factors, your premium could reflect the discount you get and surcharges on your base amount because of some factors in the information you provide, you may wind up paying a surcharge on your base rate How do insurance companies calculate your discounts? It depends on state laws and an insurance company internal rules and guidelines. Each company Most insurance companies have established the maximum discounts a person can receive on their policy, like 25 percent off your full premium. Some discounts will only apply to a certain type of coverage, like collision determines their own discount based on their own underwriting systems. Look at the declarations page of your current policy and know whether you have received any discounts Resources: http://www.fatwallet.com/blog/car-insurance-statistics-state-by-state/ http://www.carinsurance.com/car-insurance-discounts.aspx http://www.thehartford.com/auto-insurance/affordable-auto-insurance https://www.ameriprise.com/auto-home-insurance/learning-center/insurance-tips-for-drivers/guide-to-owning-a-car/car-insurance-rates-explained.asp 10 Most Expensive Cities 10 Least Expensive Cities