The law requires you to have auto insurance, so it’s not an expense you can completely avoid. However, you can potentially reduce your rates by understanding some fo the factors that affect the cost of your coverage.
1. Driving History
You can usually qualify for lower insurance rates if you have a history free from accidents and traffic violations. Some insurance agencies are starting to employ tracking technology that monitors your driving and uses that data to calculates your rates. An auto insurance agent orlando can provide more details on how your driving record affects your rates and can help you shop for the best policy.
Your age is another significant factor in how much your premiums cost. Insurance rates for younger drivers, especially teens, are generally higher than those for people over the age of 25. In most cases, drivers who are 50 years old have the most affordable premiums.
3. Credit Score
Another factor in your insurance rates is your credit history. Because statistics show that people with lower credit scorestend to file more insurance claims, most providers take a person’s credit rating into account when determining the cost of coverage. Some providers specialize in offering insurance to people on either end of the credit score spectrum.
The type of car or truck you drive has a drastic impact on the cost of your insurance. Generally, premiums on expensive cars cost more than those on cheaper vehicles. The difference is due to the fact that it will usually cost the insurance company more to pay for repairs on a high-priced car. The age of the vehicle and the body style can also affect the cost of insurance.
There are numerous factors that can affect how much your insurance premiums cost. Some things you can’t control, such as your age. However, you may be able to find lower insurance premiums when you have a good credit score, an affordable vehicle, and a safe driving history.