Shopping around for car insurance can be overwhelming for first-time buyers, especially if you’re looking around for a teen driver. Knowing more about what factors affect your premiums, though, can help you understand what you’re getting yourself into and how big a chunk of your monthly funds it’s going to take.
Your Credit Score
Auto insurance companies tend to believe that most people with high credit scores are more reliable with their payments. Essentially, when you’ve got a high credit rating, companies take that to mean you know how to look after your money and thus are more likely to keep up with your payments, says the Huffington Post. So the higher your credit score is, the lower your premium.
Your College Education
Statistics show that college graduates net lower premiums than non-graduates because auto insurance companies believe they have safer and better skills on the road, reducing the chances of insurance claims.
Your Job
If you’re a pilot, then you probably don’t spend a lot of time on the road. That lowers your premium. After all, the more miles you cover, the higher your premium gets. The belief behind that is, the more you drive, the more you increase your chances of getting into an accident. The fewer hours you drive, the smaller the risk of getting into a collision accident. People with the following jobs—being a nun, paramedic or insurance underwriter—also enjoy lower premiums because the reigning perception is that, they’ll be careful when they get behind the wheel.
Your Grades
For student and teen drivers, this is one more reason for you to keep your grades up. Many companies provide students with excellent marks at school with discounts in their premiums. Auto insurance companies believe that high grades indicate better driving habits on the road. The more responsible a student is perceived to be, the lower his or her premiums.
Your Home
Do you own your home or rent? According to Forbes, married women who owned their homes were more likely to get lower car insurance rates than single women who rent. You having your own home means you’ve managed to keep up with the payments and therefore, aren’t a credit risk.
Your Agent
Finding the right insurance agent is key. An experienced, professional agent will do the best he can to lower your premiums and provide you with options that suit your unique needs.
Be sure to choose the right auto insurance agent in Highlands Ranch CO. Contact us at Moszer Insurance today for a quote!
