Saving You Money For Life

Auto insurance companies look at many factors – some say far too many – in determining insurance premiums for individual applicants. At the top of the list are age, gender and marital status. There’s nothing you can do about the first two and probably shouldn’t consider changing the last for insurance purposes. But statistically, drivers beyond the age of 25, females, and married people are less likely to have accidents.

Other factors include geography, because collisions and car thefts are less likely in rural areas. What’s ironic in this instance is that moving across the street might lessen your rate. Obviously, a record of moving violations is going to hurt you. And a history of accident claims will have an impact, which is why many people pay for minor fender-benders themselves. Unfortunately, insurance companies are clinging to the belief that credit rating can be a predictive indicator for drivers. Poor credit means a higher frequency of accidents. California has recently outlawed this practice.

Additional considerations may include:

Miles driven per year
Your occupation
Years of driving experience
Do you use your car for business purposes?
Whether or not you currently have auto insurance
Theft protection devices, which may get you a discount
Multiple cars and drivers on the same policy, which is also a discount item.

That’s the assortment of issues you’ll confront when you go in search of a new auto insurance policy. Be sure and ask what discounts are available – there are a number of them that most companies make available, and you’ll never hear about them unless you ask.

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