Home » News » Miscellaneous » Factors That Influence Your Car Insurance Rates

When the time comes to shop around for car insurance, it is essential to know anything that influences your rates. There are some things you can do to keep your prices low, like choosing small coverage amounts or increasing the deductible.

But there are other factors in play when talking about car insurance – some of them are out of your control. Since it is necessary to know these influences towards your insurance, we came up with two categories to help better understand them: controllable factors and uncontrollable factors.

Controllable Factors

These types of influences are within your control to either help or hinder your insurance rates. Your vehicle itself can affect your insurance. The amount the car is worth plays a role since it is more likely that an expensive car would require more money to fix if you were to get into an accident. Also, a costly and luxurious vehicle more than likely is a more significant target for theft than an entry-level car. So knowing how the type of car you drive could affect your insurance rate is important.

Your driving history is a significant factor in your car insurance. If you are a reckless driving that has made multiple insurance claims, received a variety of tickets, or anything else that makes your driving record look bad, expect your rates to skyrocket. You become a higher risk for insurance companies if your driving habits are bad. If your driving record is terrible, don’t be surprised if you are refused insurance altogether.

The purpose of the vehicle may also be an influencer. If you are travelling a long distance for work regularly, you may be considered the more high risk for the insurer. This means increased rates. But if you don’t plan to use the car very often, you may be entitled to discounted premiums.

Where you live is also a determinate. If you live in a neighbourhood that has high amounts of insurance claims due to theft, collisions or break-ins, your insurer might think it will happen to you. So to cover their end, insurers will increase your rates.

Uncontrollable Factors

Unfortunately, some influencers are out of your hands that affect your insurance rates. Your age plays a significant role in your insurer. Generally speaking, young and elderly drivers tend to have the highest insurance rates because they pose the most significant risk of getting into, or causing an accident.

Your gender plays a slight role in determining your insurance rates. Although this is not a required determinate, it is one that can be used, whether you agree with it or not.

So when you are shopping around for your next car insurance, remember there are many factors in play. Although many determinates are within your control (like how you drive and what type of vehicle you own), unfortunately, there are some that you cannot change. So shop around between different insurance companies until you find the one that can give you the best rate.

Related Articles

Leave a Comment

Fields marked with * are required
Name *:
Email *:
Comment *:
Code *:
  CAPTCHA
  • Email
  • YouTube
  • RSS
  • Twitter
  • facebook
  • feedburner

Related Specs

  1. 2010 Ford Mustang

    Engine: V8, Power: 315 hp @ 6000 rpm, Torque: 325 lb-ft @ 4250 rpm
  2. 2009 Nissan 370Z

    Engine: VQ37VHR Variable Valve Timing NA V6, Power: 332 bhp @ 7000 rpm, Torque: 270 lb-ft. @ 5200 rpm
  3. 2010 Bentley Azure T

    Engine: Twin Turbocharged V8, Power: 500 bhp / 507 PS / 373 kW @ 4,200 rpm, Torque: 738 lb ft / 1,000 Nm @ 3,200 rpm
  4. 2009 Porsche Cayman

    Engine: 6 Cylinder Horizontally Opposed "Boxer", Power: 320 bhpN/A
  5. 2006 YES Roadster 3.2 Turbo

    Engine: V6, Power: 355 bhp (261 kW), Torque: 358 lb-ft (485 Nm)

New Vehicles

Hyundai i30 N Line starts at £21,255 in UKHyundai i30 N Line starts at £21,255 in UK
After a long wait, Hyundai is finally making the most of its new N Performance division. The South-Korean manufacturer has officially announced the pricing ...

Concept Cars

First teaser of the upcoming BMW iNext Concept - the production model will start a new eraFirst teaser of the upcoming BMW iNext Concept - the production model will start a new era
BMW has published the first official teaser of the upcoming BMW iNext Concept. The pure-electric BMW iNext will be built at Plant Dingolfing from 2021. ...

Custom Cars

ABT Cupra Ateca offers more powerABT Cupra Ateca offers more power
Just introduced on the market during this fall, the new Cupra Ateca already benefits from a tuning package created by a german tuner. It is well known ...

Future Cars

Mercedes-Benz Vans launches the Vision URBANETIC conceptMercedes-Benz Vans launches the Vision URBANETIC concept
Mercedes is more and more into autonomous cars and is developing new technologies, fot the moment only at a concept stage. So is the Vision URBANETIC, ...

Market News

Peugeot produced its one millionth C-segment carPeugeot produced its one millionth C-segment car
When Peugeot decided to replace its family cars with SUV's everyone understood the French brand is on its way to becoming a popular choice on the european ...

Gadgets

Mazda to offer Apple CarPlay and Android Auto to older cars tooMazda to offer Apple CarPlay and Android Auto to older cars too
Some manufacturers use over the air updates for their cars. Some others, who decided to adapt later are offering their clients an update but only with ...

Various News

Fiat Panda got zero Euro NCAP safety stars, while the new Jeep Wrangler only managed to achieved one starFiat Panda got zero Euro NCAP safety stars, while the new Jeep Wrangler only managed to achieved one star
Euro NCAP released the safety ratings of nine cars. The Audi Q3, BMW X5, Hyundai Santa Fe, Jaguar I-PACE, Peugeot 508, Volvo V60 and its partner, the ...

Motorsports

Nissan Leaf Nismo RC unveiledNissan Leaf Nismo RC unveiled
Nissan is more and more into electric cars and electric racing. The Japanese brand unveiled the all new Leaf Nismo RC, an evolution of the previous model ...

Videos

Audi is teasing a sports car prior to Paris reavealAudi is teasing a sports car prior to Paris reaveal
Audi has published a teaser video with a sports car that will be showcased during the 2018 Paris Motor Show. The teaser video was launched on the Audi ...