Shopping for Auto Rates

Driver record—Often, drivers who have incurred moving violations, been in accidents or filed claims in the past are more likely to do those things again in the future. Those drivers may pay a higher price for their auto insurance than a “loss-free” driver insuring the same vehicle.  

Type of vehicle—Size and performance are two considerations when looking at how different types of vehicles are insured. Owners of larger cars tend to pay lower rates than owners of smaller cars since larger vehicles typically suffer minor damage in an accident. Additionally, high-performance vehicles like sports cars are statistically driven more aggressively, which means there is a higher likelihood of those drivers being involved in an accident. As such, high-performance vehicles usually cost more to insure. 

Car features—Some features, such as anti-lock brakes or airbags, can actually help you secure a premium discount on your auto insurance since these safety features may mean the vehicle is less likely to sustain severe damage and its passengers are less likely to be injured in an accident. 

Deductible choice—Generally, the higher your deductible, the lower your premium.  

Age or sex of insured driver(s)—Males under 25 are statistically more likely to get into auto accidents than females of that age, so they will typically be more expensive to insure. In a broader sense, any driver under the age of 25 is more likely to get into an accident than older drivers, which can also drive up a premium rate. 

Vehicle usage and location—The more densely populated an area is, the higher the premium usually is, as there is a higher chance of being involved in an accident. Additionally, the higher the mileage on your vehicle, the higher the premium will typically be. 

Value and age of car—Usually, the more expensive the car is, the more expensive it will be to insure. The same concept applies to new vehicles – if it’s newer, it will likely be more costly to insure than an older vehicle. 

Consider raising your deductible in a way that works with your budget. 

Drive less to qualify for a low-mileage discount. 

Install an anti-theft device. 

Ask if your insurer offers multi-policy discounts. 

Keep up your good driving record.