5 Factors that Affect Your California Car Insurance Rate
5 Factors that Affect Your California Car Insurance Rate
When you are shopping for California car insurance, you owe it to yourself to know what you are buying and why you are paying a certain amount. There are many different elements that affect your insurance rates, but the top 5 factors that will influence what you pay for California car insurance are:
Driving Record: How safe you are as a driver is one of the most important factors in auto insurance rating. If you have accidents or moving violations in the past 3 years, your insurance will be higher because you are considered a higher risk to the insurance company. On this note, if you have been accident and violation free, you should inquire about safe driving discounts to lower your rates even further.
Age, Gender, and Marital Status: Older drivers are more experienced, and therefore will pay lower insurance premiums. Drivers under the age of 25 are inherently higher risk, as are drivers with less than 5-10 years of experience. Also, men are considered higher risk than women when it comes to driving. Single people are seen as more risky because they stereotypically live fast and free' while a married driver will be safer simply because they have a spouse and a family to come home to. These are all huge stereotypes, of course, but are demographic factors that are part of your insurance rating. Whether they are accurate assumptions or not, they will affect your rates.
Location: Where you live is going to affect your quotes for California car insurance. For example, a driver living in a crime-prone neighborhood in Los Angeles will have higher insurance rates than a driver living in a rural community far from the city. If you live in a high profile or high crime area, your insurance rates will be higher.
Type of Car: Everyone drives different cars, and some are higher risk than others. A sports car will cost more to ensure than a station wagon, for example. Also, the color of the car and included safety features can affect your rates.
Credit Rating: While this isn't a huge factor in determining how much you pay for insurance, it does make a difference. People with better credit are seen as more responsible and will therefore get lower insurance rates than drivers with poor credit. Paying your bills might not seem to affect your driving abilities, but it's the essence of responsibility that insurance companies are looking for.
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