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1. Type of vehicle
More compact vehicles tend to be more costly, as accidents damage a greater number of parts than in other vehicles. Additionally, vehicles with more horsepower, style, or other appeal are more enticing targets for potential car thieves than their more boring counterparts. To keep your rates low, opt for a less attractive option on the larger size with greater crash test safety ratings.
2. Age
Younger drivers carry higher risk than experienced drivers as they tend to be more likely to engage in unsafe behavior such as speeding, swerving, and engage in more accidents than other people overall. Generally, the younger a driver is, the more high-risk they will be considered to be.
3. Miles driven
More time behind the wheel means more chances for accidents. If you can take public transit some days, consider doing so. Try to limit use of your car wherever possible.
4. Driving record
According to auto insurance companies, you’re more likely to get into accidents if you’ve already been in an accident. Makes sense, right? To avoid this, drive as safe as possible and always err on the side of caution, rather than speed, in your driving.
5. Credit
Your credit is a key component in determining car insurance rates--the better your credit, the lower your rate, as you’re viewed with less risk and more reliability than those with lower credit.
6. Location
Unsurprisingly, driving or living in an unsafe or high-crime area makes you a higher-risk customer for companies than living in a safe area. The more likely your car is to be damaged or stolen, the more money your company charges you to offset losses resulting from the higher risk. If you live in an area with a ton of carjackings or accidents, expect higher premiums.
7. Marital Status
Statistically speaking, married people are far less likely to engage in risky behavior and get into accidents compared to single people. If you’re married, make sure your agent and insurance know, and you might see a drop in your rates!