Do you ever wonder how insurance companies come up with your car insurance quotations? It may seem random, but in reality several factors are taken into account.
Below are some factors that count into car insurance quotes calculation:
How Old You Are
If you are older and have more experience behind the wheel, you'll pay a lower rate than a teenager who has just earned his or her license. Statistically, when figuring out Car Insurance Quotations, young inexperienced drivers have higher rates of accidents.
How your Vehicle is Used
Whether your car is used for daily commute or business purposed, it will add up to your annual mileage, and this will take into account to your car insurance quotations.
Of course, those with fewer miles will be less likely to have an accident compare with those who drive more often. In other words your car insurance will be lower when you use less of your vehicle.
The Type of Your Car
The average cost of repairs for your car model, including its safety statistics are taken into account when it comes to car and insurance . An expensive import car will cost more to insure than a crossover or minivan.
Driving Record
If you have a better driving records you will surely pay less for car insurance than people with many tickets on their records. In other words, those with more moving violations will pay more for their car insurance quotations.
Your Home Address
Most of insurance companies will ask where you live, they want to know how busy the streets are nearby your house. People who live in the city will usually pay higher for their car insurance than those who live in a village.
Credit History
You may not believe it, but your credit history is truly taken into account when it comes to figuring car insurance quotations. If you have a good credit history, you may pay less for your car insurance than those with bad credit scores.
Please note, it is better to get four to five quotes before you decide which provider you will choose for your car insurance, since many of them can be vary.
Below are some factors that count into car insurance quotes calculation:
How Old You Are
If you are older and have more experience behind the wheel, you'll pay a lower rate than a teenager who has just earned his or her license. Statistically, when figuring out Car Insurance Quotations, young inexperienced drivers have higher rates of accidents.
How your Vehicle is Used
Whether your car is used for daily commute or business purposed, it will add up to your annual mileage, and this will take into account to your car insurance quotations.
Of course, those with fewer miles will be less likely to have an accident compare with those who drive more often. In other words your car insurance will be lower when you use less of your vehicle.
The Type of Your Car
The average cost of repairs for your car model, including its safety statistics are taken into account when it comes to car and insurance . An expensive import car will cost more to insure than a crossover or minivan.
Driving Record
If you have a better driving records you will surely pay less for car insurance than people with many tickets on their records. In other words, those with more moving violations will pay more for their car insurance quotations.
Your Home Address
Most of insurance companies will ask where you live, they want to know how busy the streets are nearby your house. People who live in the city will usually pay higher for their car insurance than those who live in a village.
Credit History
You may not believe it, but your credit history is truly taken into account when it comes to figuring car insurance quotations. If you have a good credit history, you may pay less for your car insurance than those with bad credit scores.
Please note, it is better to get four to five quotes before you decide which provider you will choose for your car insurance, since many of them can be vary.
About the Author:
Anne Durrell comes from USA. She writes a lot of articles on insurance quotations. Here are some other of her articles you may be interested in reading: car insurance broker guide and car insurers tips!
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