- Age. Age is a very significant rating factor, especially for young drivers.
- Driving history.
- Credit score.
- Years of driving experience.
- Insurance history.
- Annual mileage.
What are the five factors that affect what you pay for insurance?
What are 3 main factors when determining your car insurance rate?
The biggest factors that affect car insurance rates are state coverage requirements, age, and the car’s make and model. The more coverage you’re required to buy in your state and the more valuable your vehicle is, the more you’ll pay for car insurance.
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.