What Can Increase Insurance Rates?






bad-habits-increase-insuranceIf you drive, you’ll want to be insured and in some states, it is compulsory. Before you choose your auto insurance provider, you should be knowledgeable in what the coverage is. Some things that are included in one policy might be an option in another and the sales representative isn’t likely to point that out to you. Once such item is uninsured motorist, if you pick a policy that doesn’t have this and you don’t know it’s on the options list, you will badly miss it if you are hit by an uninsured driver.

With that said, there are many things that will affect your insurance rates, some of them you have control over and others you may not. Your location and zip code has an affect on your coverage cost before any personal statistics come into affect (due to accident statistics for the area and the propensity for certain natural disasters). It is a common misconception that if you don’t get a ticket, it doesn’t go on your record. If you get multiple warnings for speeding, it may not affect your current policy, however if you look to move to a different provider they may come into play.

Getting married can have a positive affect on your policy costs, provided your spouse also has a good driving record, being married shows acceptance of responsibility. Having children should not affect your insurance rates until they become driving age.

If you have made multiple claims, be they for accidents, vandalism or theft, your insurance rates will increase. If your credit score is low, insurance companies will use this as a reason to raise your rates, considering it irresponsibility.


2 Responses to “What Can Increase Insurance Rates?”

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