What Are The Main Influential Factors For Car Insurance Rates

LOS ANGELES, Jan. 2, 2020 /PRNewswire-PRWeb/ -- Cheapquotesautoinsurance.com has released a new blog post that presents the main factors used to determine a person's car insurance rates.

For more info and free car insurance quotes, check http://cheapquotesautoinsurance.com/factors-that-influence-your-car-insurance-risk-profile/

Auto insurance is a risk-based business and companies want to limit the risk of paying too many compensations. Insurers rely heavily on statistics, carefully analyze a series of factors and rate persons using insurability scores. Find out the top influential factors and get free car insurance quotes online from http://cheapquotesautoinsurance.com.

    --  The policyholder's driving history. Insurance companies require for any
        potential client to disclose at what age they've got their license. A
        person with 3 or more years of experience behind the wheel is considered
        experienced. Online questionnaires will ask about the driver's license
        or permit status (valid/active or suspended). Next, the client will be
        asked to answer if he or she committed any traffic violation in the past
        3-5 years or were involved in an accident. Drivers with multiple claims
        in a relatively short period of time are considered high-risk, even if
        they were not at-fault.
    --  The car's exact model. Insurance companies ask about the car make and
        model, plus body-type (trim), in order to get statistical data about
        price, numbers of accidents with that model involved and car theft
        frequency. Furthermore, insurers will take into consideration time
        depreciation and calculate the current value.
    --  An existing coverage history. Online questionnaires always ask if the
        user is currently insured. Depending on the answer, the questionnaire
        may ask about the current provider, how long he/she has been with it and
        the last liability coverage. Companies want to figure out how likely is
        for a person to switch the companies during mid-term or after 1 coverage
        period. These persons are usually considered high-risk and are either
        avoided or charged more by standard carriers. Companies also check for a
        history of coverage lapses.
    --  Marital status. On average, married people get better rates when
        compared with single people with similar ages, backgrounds, and
        vehicles. Married people are seen as more responsible. Being divorced or
        separated will increase costs.
    --  Education. Education plays an important role in getting better rates and
        persons with at least a college degree are also seen as more responsible
        and able to focus on the driving task ahead. Students with good grades
        can opt for a discount.

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