Where You Live Determines Your Insurance Rates (And 10 More Determining Factors)

Did you know that where you live actually can make a difference as to how much you pay to insure your vehicle (among other things)? Why does where you live make a difference in a car insurance quote? Have you heard of the statistic that associates most auto accidents with happening in close proximity to your very own home? Well, there you have it. Where is your home and what are the day to day traffic conditions there? Clearly however, there is far more to an insurance quote and determining your premium than your location on a map.

Factor #10

How much do you drive? The frequency with which you find yourself behind the wheel will have everything to do with how much your insurance company wants to charge you for coverage. Also of course does whether or not you park in a garage or other secure, protected spot, where (the route) you drive and your average driving distance.

Factor #9

Does history repeat itself? Auto insurance companies certainly think so because your individual driving history, or record, has a serious impact on your premiums.

Factor #8

Did you buy your car because you liked the way it looks or because it is a highly desired model? Well, a thief probably thinks so, too! Some cars promote higher insurance rates due to their attractiveness to thieves. Sorry.

Factor #7

The older we humans get, the more we may find ourselves paying for health insurance. Not so however with cars, trucks and SUV’s. The older your car, the less it should cost to insure it.

Factor #6

Who says size doesn’t matter? It does to the auto insurance industry. Smaller cars are often not as safe as larger cars. More safety features are seen in bigger vehicles that just don’t appear in those little jobs.

Factor #5

And speaking of safety features, what is the official safety rating of your vehicle? You’ve seen those videos where they purposefully crash a car with the crash test dummies in them (no, not the music group). You should be able to find the safety rating of most any car on the Internet.

Factor #4

What you do for a living, even if you don’t necessarily drive for a living, can have some influence on your rates. Back and forth to work everyday, visiting a client, meeting a partner, driving to conferences… that’s alot of miles. Example: An airline pilot who commutes only when in town and as needed… smaller premium. Some carreers also are considered to be held by ‘safer driving individuals’ (i.e. insurance underwriters, nuns, EMT’s/paramedics, police, etc.).

Factor #3

Credit scores come into play more than most people actually know. Here is yet another example of how a good credit rating can save you money.

Factor #2

Married? Single? Supposedly, married individuals are apparently more ‘mature’, even behind the wheel. This is particularly applicable to men. Atleast where insurance companies are concerned.

Factor #1

Speaking of men in particular, whether you are male or female (and your age) is an added determining factor in just how much you may be charged for car insurance.

So… are you going to pick up lock, stock and barrel and move to a different region just to save money on car insurance? Probably not. But it certainly doesn’t hurt to have it in the back of your mind if you are looking to relocate anyways. It gives you just one more determining factor as to what area you and your family, if you have one or plan to, should relocate to.

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