Did You Know These Factors Make You a High Risk Driver?

Every car owner would love inexpensive car insurance rates with comprehensive coverage, but a number of factors determine the final cost. Most individuals are familiar with common elements in the car insurance rate calculation—accident history, driver age, and tickets can all affect the final quote. However, several other sneaky factors affect insurance premiums as well.

 Your Gender Can Cost You

Everyone knows young men, especially those under 25, often pay more than their female counterparts do. Statistics are working against them in this instance, as their demographic racks up the most tickets and collisions. However, being a woman does not always mean lower insurance rates. Many insurers offer men aged 40 to 60 better rates than they do women—even when both have perfect driving records. In this instance, statistics are once more the culprit. Data shows women in this age bracket are riskier to insure than men of the same age are.

Being Single Can Cost You

Drivers may grow weary of hearing it, but statistics once again net married couples better rates. This is because married people are less likely to get into car accidents than married individuals are. As a result, divorced or widowed individuals may see their insurance rates go up once their insurer determines they are now single.

Location Can Cost You

Many individuals assume only those living in high-crime areas experience higher insurance premiums, but this is not the case. Individuals living in cities will also receive higher quotes than those living in rural areas. This is a simple equation. More people + more cars = more accidents. Not only that, but cities are more prone to scams and fraud as well.

How insurers determine someone’s insurance rate is complex and often out of the individual’s control. Other factors such as credit history and previous insurance history can affect future quotes as well. While individuals can shop around for the best rate, The Reilly Company can help them find the best coverage for the lowest cost much faster. Contact us today to learn more.