Are you in the hunt for a solid auto insurance policy that will protect you and your car while saving you money? While there’s no one-size-fits-all solution, your auto insurance rates can vary depending on a few factors. Here are 5 factors that can impact your auto insurance costs:
Your Driving History – Have you been involved in a handful of accidents or fender-benders? Have you been issued a glovebox-full of speeding tickets? If this is the case, you might need to pay higher auto insurance rates. Conversely, if you are a safe driver and have very few incidents of accidents or tickets, you may possibly lower your rates!
Your Deductible and Discounts – Sometimes, a higher deductible can mean a lower premium. If you want to save money, choose the highest deductible that you feel comfortable with. Just keep in mind that you will need to pay the amount of your deductible out-of-pocket in the event of a covered loss. Don’t forget to ask about discounts, too! You might be able to take advantage of discounts such as a safe driver discount or good student discount.
Where You Live – Rates can vary from state to state and even from city to city. If you live in a metropolitan area, which tends to have more traffic, you might pay higher rates. Live in a rural area? You might be able to enjoy lower rates.
Your Vehicle and How Often You Drive It – If you have a longer commute, you might find yourself with more elevated auto insurance rates. That’s because the longer you spend on the road, the higher the chances are that something could happen. Also, if you drive a vehicle that has strong safety ratings, your rates could go down. Conversely, if you have a car that doesn’t have the best safety track record or that has a higher likelihood of being stolen, you could see your rates go up.
Your Age, Marital Status, and Sex – Statistically speaking, married drivers tend to have fewer accidents than single drivers, which can ultimately mean lower premiums for married drivers. Younger drivers tend to pay more for their auto insurance since they are inexperienced; typically, the rates will be lowered a little once a driver turns 25. In addition, female drivers tend to experience fewer accidents, so they might receive lower auto insurance rates than their male counterparts.
Have any questions about these 5 rating factors? Want to get a great auto insurance policy that will cover and protect you and your car? Call Madison Mutual Insurance Company today at 1-800-766-MMIC or visit us online at www.madisonmutual.com!