Of key importance to insurance companies is a driver’s record, their age, marital status, and gender.
Seattle, WA (PRWEB) February 23, 2013
There are many different things affecting a given driver’s auto insurance bill. Most of these things are easily controlled no matter the age or driving history of a consumer. In most cases, what drivers choose as part of their coverage determines how cheap auto insurance is for them. Here is a detailed look into the 6 major things that affect driver’s premiums, as well as a bit of advice on how to get cheap car insurance and save money.
As was just said, the bulk of a driver’s bill comes from coverage- how much a driver is monetarily covered in the event of various accidents, whether they are responsible for them or not. The specifics of the coverage a driver has, as well as the deductible drivers are willing to pay in the event of those accidents, determines the monthly insurance bill.
Rate Digest suggests that, in order to lower premiums and get cheap car insurance, drivers take a look at how willing they are to pay before letting the insurance company take over. Since a higher deductible almost always means a lower monthly rate, drivers can save hundreds every year by simply increasing the deductible.
Also, Rate Digest advises that people look into how valuable coverage is to them. In the case of collision coverage, drivers with older cars are much less likely to see coverage returning their monthly investment, as older cars depreciate rapidly in value. This lowering of value makes older cars far more likely to become totaled in an accident, so drivers should keep it in mind when they sign up for collision insurance. It may not be worth the expense, and dropping it would certainly help drivers get cheap car insurance.
Also of heavy significance to a driver’s premiums is the car being insured. Specifically, the higher the safety rating of a car is, the more cheap car insurance will be. Also, cars more likely to get damaged, such as sports cars, or cars more likely to be stolen will increase a driver’s premiums.
The third major piece of a driver’s insurance bill has to do with the drivers themselves. Of key importance to insurance companies is a driver’s record, their age, marital status, and gender. If a given driver is under 25, single, and has been driving for less than three years, chances are very good that they will have a very high insurance premium. In these cases, Rate Digest suggests that young drivers take a driver safety course, which in some states can lower their premiums by a hefty amount. Also, drivers who are students may have additional discounts, depending their grades.
About Rate Digest
Rate Digest offers a free insurance comparison tool that lets consumers find the great insurance they deserve. http://www.ratedigest.com/