Auto Insurance

Auto Insurance

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What are the factors that affect my car insurance costs?

A number of factors can affect the cost of the car insurance. So you're more curious about to know about the factors that affect your car insurance costs, then go ahead…


You are deemed less likely to be in an accident if you're in the middle age. Insurance companies quote higher rates for the oldest and youngest of drivers, as they are more prone for accident driving.          


These are nothing but the money that we pay before the car insurance policy starts. By paying higher deductibles one can reduce his insurance cost substantially. If the deductible is increased to 500 dollars from 200 dollars the coverage cost can be reduced by 20 -30 %. If the deductible is increased to 1000 dollars from 200 dollars 40 % or more can reduce the coverage cost.

Coverage cost of the old car

Dropping the coverage cost is yet another option of reducing the insurance cost. If the cost of the car is less than the ten times of the premium that one pay, then he/she needs to drop the coverage premium as purchasing the coverage is not going to be cost effective. The worth or the cost of the old car can be got from any auto dealer or banks.

The make and feature of the car

The model and the features of the car do matter in lowering the cost of insurance. The car premiums are based on the price of the car, the cost of repair, safety features and theft possibilities etc. the premium of insurance will be always lower for the cars with perfect safety features against theft and injury to the person.

No of policies taken in the same insurance company

It is better take insurance policy from the same company for the cars that one buy for the family members or for the office colleagues. If the number of policies is more as goodwill gesture the insurance company will reduce the interest rate. This way one can reduce the car insurance cost.  

Good credit record

Good credit record will certainly reduce the insurance cost. It is better to pay the premiums on time. Never try to get more credit period than required. Try and keep the credit balance as low as possible. Check the credit balance periodically and correct the errors if found any. By doing so mentioned one can reduce the insurance cost by avoiding the extra payment.

Gaps in insurance coverage

Do you know that the car insurance companies consider the drivers with gaps in coverage are more risky than any other drivers? If you want to lower your auto insurance rates in the near future, avoid causing gap in your car insurance coverage, even for a single day.

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