Over 30 Different Factors That Could Affect
Your Auto Insurance Rates
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Most people are not familiar with how many factors are included in determining auto insurance rates. We’ve compiled a list of several below. The science of determining rates is forever evolving. No one company has the “best” rate for everyone. Once you factor in all of these variables, rates can vary drastically for “similar” people. After you look at the list below you’ll understand why we ask so many questions. |
Age
Credit
Deductibles
Marital Status
Year of Vehicle
Make / Model
Cost of Vehicle
Airbags on vehicle
Anti-theft features
Felony Convictions
5 year driving record
ISO Symbol of vehicle
Length of time licensed
Driving training discounts
Defensive driving discounts
Anti-lock brakes on vehicles
Liability limits on prior policy
Miles driven one way to work
Any previous at fault accidents
Liability limits on current policy
Number of vehicles on the policy
Number and types of prior claims
Optional coverages (towing, rental, etc.)
Length of time with prior insurance company
What company you were previously insured with
How the vehicle is used (work, business, pleasure)
Home address (broken down as much as by zip code)
Length of time client has maintained continuous coverage
Multiple policy discounts that may be available from some companies
Occupation of insured (teachers get special discounts from some companies)
Willingness to participate in and the results from a GPS tracking device (such as Progressive's SnapShot)