It’s safe to say that shopping for Car Insurance Clovis can be a stressful and very time-consuming experience when you consider the number of companies in the marketplace that there are to choose from. Naturally, the goal of this endeavor is to get the best possible coverage at the best rates. What you need to understand first and foremost, is that Car Insurance Clovis companies rely on several factors when it comes to calculating how much you will pay for your policy premiums.
If you are unaware or unsure of this, you will need to conduct some research online in order to understand the many factors that could be involved when determining your Car Insurance prices. The following will give you an idea of the factors that are used to calculate your the cost of your insurance premium.
Demographic Factors
Age and gender – statistically speaking, teenage males are more prone to auto accidents than teenage females so they usually pay higher premium prices. Conversely, older males get better rates than females in their age groups although the difference in price is not that significant compared to younger individuals.
Career or profession – some insurance companies will draw correlations between their profession and the risk of getting into an accident. As a result, they may adjust the price of your premium accordingly. Individuals whose careers require them to be on the road a lot have a higher risk of getting into an accident than those who commute less.
Credit history and score – most companies take this into consideration when calculating your premium prices. For the most part, a lower credit score will mean higher premiums.
Marital status – when men get married, their premium rates drop dramatically. However, that depends on their prior driving history. You could pay up to 50% for your Car Insurance if your driving record is spotless when you get married.
Where you are living – since there is a higher risk of accidents in heavily populated urban areas compared to rural environments, individuals living in metropolitan areas typically pay more for their insurance compared to people living outside those areas.
Personal Driving Habits
Your driving activities – some insurance companies will calculate your premium rates based on specific driving activities including the distance driven, what your vehicle is used for, and when as well as where you drive it.
Your driving history – insurance companies assume that you are more likely going to make a claim if you have been involved in auto accidents, have made previous claims, or received several moving violations compared to drivers whose record is relatively clean.
Vehicle-Related Factors
Age – older cars are more frequently “totaled” after an accident, even though their repair costs are similar to those of newer vehicles. Plus, most vehicle owners will decide against repairing an older vehicle if it needs significant repair work.
Likelihood of theft occurring – vehicles ranked in the “top 10 most stolen list” will most likely cost more to insure since there is a greater frequency of claims that occur among those particular models. Additionally, the installation of an anti-theft device may get you a discount off your rates.
Manufacturer – the price of your insurance premium may be affected by the company that manufactures your vehicle. Foreign vehicles typically cost more to insure since getting repair parts may be difficult at times.
Model – the fancier your vehicle, the more you will pay to insure it. Basic 4-door models are not only cheaper to purchase, they cost less to insure.
Number of vehicles insured – you could qualify for a multi-car discount when insuring more than one vehicle under the same policy. Although this applies to each vehicle, the amount of the discount will not increase by virtue of adding more to your policy.
Safety rating – higher safety ratings usually equate to lower premium prices since there is a lower risk of having to pay for the medical bills of your passengers.
Size – since smaller vehicles are less safe than larger ones when it comes to getting into an accident, the latter will cost less to insure provided it has a high safety rating.
Year – depending on the insurance company, you may receive a new vehicle discount when purchasing a newer car compared to a previously-owned or used one.
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