When looking at your auto insurance rates year after year, it may seem that any fluctuation is arbitrary, but this is not typically true. There are usually a variety of factors that can affect the rates you pay for your insurance. Here are three of the factors that can impact your auto insurance rates.
- Driving record and habits: If you have accidents or tickets on your driving record, you may seem like more of a liability and risk to the insurance company. This might make your auto insurance rates higher than they might be for someone with a clear driving record. Likewise, if you have riskier driving habits, such as habitually driving late at night or for long hours, you may see higher insurance rates than someone who drives only during the day and not as frequently. This is because sleepy drivers have greater risks of accidents.
- Type and age of vehicle: Your type and age of vehicle can also impact your insurance rates, as they’re often calculated with value in mind. For instance, an older vehicle might cost less to insure because its value isn’t the same as a newer one. On the other hand, a brand-new luxury or performance vehicle might be more costly to insure.
- Your insurance agency: Auto insurance rates can vary and be difficult to navigate on your own. You can leave the insurance shopping with us so we can help you compare quotes from different insurance providers to help you find the best and most affordable policy.