How Are The Auto Insurance Rates Calculated?
There are numerous factors that go into an insurance rate. Your credit score, zip code, and car model are the most commonly named elements. The most effective way to lower your insurance rates is by taking advantage of special discounts and comparing new plans on a regular basis. According to a recent survey, 76% of consumers say they've saved money by shopping around. In fact, 30% report saving $500 or more!**
We take pride in helping simplify the process of finding competitive auto insurance rates. Enter your zip code above and start comparing plans from a variety of insurance carriers.
Your credit score is a big determining factor of your monthly insurance premium. Your credit history can be collected and used by insurance companies to determine your insurance premium in every state except California, Hawaii, and Massachusetts. While not all insurance companies use this metric, most of the big-name auto insurance companies do.
Big cities have higher accident rates than smaller ones. Insurance companies are well aware of this and will give you a higher premium if you live in a heavily populated city. Other factors can include your local crime rate, where you park your car, and your distance to the nearest police station.
Rates also vary according to the model of car you drive and how you drive it. Car safety ratings, your driving record, and the model’s claim record are all factored into your premium. A sportscar will likely have a higher rate than a SUV, and somebody with a bunch of speeding tickets will have a higher rate than somebody without.
Ask your insurance provider if they have any discount programs that you qualify for and you might be surprised. Discounts are commonly given to people with Anti-Theft devices, clean-air vehicles, bundling multiple cars or lines of insurance, or making bi-yearly payments instead of monthly.
One of the most effective ways to save money on your auto insurance policy is to take advantage of the competition in the insurance market. Pit these companies against each other by getting quotes and comparing prices! Everybody wants to save on their insurance premium but very few actually put in the time and effort to contact the insurers and compare quotes for the best price. Fortunately, we have your back here! Use our form above and you will be on your way to a new auto insurance quote from top carriers in your area!
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