How to Protect Yourself from Package Theft and ID Fraud
November 14, 2018
Consider this.........Why do I need an Umbrella?
August 29, 2016
23 WAYS TO MAKE LONG FLIGHTS LESS MISERABLE
November 19, 2019
Have You Considered These 5 Factors that Affect Your Auto Insurance?
September 2, 2014
When you’re searching for the best rate on your auto insurance, there are several things that can affect your quote. While your driving record is a major factor in determining your insurance premium, there are several other things that insurance companies look at as well.
Your age. Middle age is a good thing when it comes to your insurance rate. Many premiums go down around the age of 21 and again at the age of 25. And once you reach a certain age they may raise again–usually past the age of 70.
Your address. I received an unpleasant surprise when I moved from a single family home to an apartment–my auto insurance rate went up. If you live in a location with a higher risk of accidents (or without a garage), it may cost you.
Your credit score. Unfortunately, your credit can affect your insurance rate. It makes sense–in the minds of lenders and insurance companies alike, your credit score is a reflection of how responsible you are, which could translate into how safe you are on the road. So like it or not, poor credit can raise your insurance rate.
Your loyalty. Insurance companies LOVE a long-term customer–and they often show that love in the form of a discount on your insurance rate after certain periods of time. So if you find a good policy early on, sticking with the same insurance company can really pay off over the years.
The more, the better. Married? You’ll get a lower rate than if you’re single. The same goes for multiple vehicles on a policy, as well as using the same insurance company for different coverage (auto, homeowners’, life, etc.).
There are many other things that can affect your auto insurance premium. Some you may have control over, while others you may not. Be sure to shop around for multiple quotes to ensure you’re getting the best deal. And look for the hidden ways you can lower your rate–multiple policies, improving your credit score, paying your premium upfront, etc.
What are some other ways you know of to get the best insurance rate?