- Age. Age is a very significant rating factor, especially for young drivers.
- Driving history. This rating factor is straightforward.
- Credit score.
- Years of driving experience.
- Insurance history.
- Annual mileage.
What does a high insurance rate mean?
Insuranceopedia Explains Insurance Rate
Typically, the more insurance coverage a person would like to receive, the higher the insurance rates they will have to pay.
What makes a car more expensive to insure?
The car you drive – The cost of your car is a major factor in the cost to insure it. Other variables include the likelihood of theft, the cost of repairs, its engine size and the overall safety record of the car. Automobiles with high quality safety equipment might qualify for premium discounts.
What are two factors that determine your insurance rate?
- Credit score. Your credit score is important for more than just a car loan – it is also a determining factor when you apply for car insurance.
- Prior insurance.
- Driving record.
- Age and gender.