In the United
States , the cost of car insurance on the
average is $880 per year; this is according to the data provided by the
National Association of Insurance Commissioners. However, every insurance
policy is different and every agency has their own way of determining the cost
of their insurance policies. To give you an idea of how much you’re going to
pay, here are the factors that determine the cost of your car insurance:
1. Types of
insurance coverage
An auto insurance policy has different parts that greatly
affect the total cost of the insurance coverage.
2. Type of
vehicle
The type of car you own says a lot about you. The insurance
company will adjust the cost of your policy based on your vehicle’s type; a convertible
sports car usually costs a lot more than an ordinary, four-door family sedan.
Vehicles that are top pick among thieves are also more expensive to insure.
3. Your driving
record
The cleaner your driving record is, the lower your monthly
insurance premium will be.
4. Your age
Younger drivers should expect higher insurance costs than
drivers between the age of 50 and 65. This is because the accident rate from
the latter age group is lower compared to other age groups.
5. Your driving
habits
If you’ll be driving your vehicle through congested roads
every day, you should expect higher insurance rates.
6. Marital
status
Married drivers have lower accident rates than
singles—that’s according to accident statistics. This is the reason most insurance
companies reduce the cost of insurance coverage for married individuals.
7. Your gender
On average, men drivers pay higher insurance premiums than
women do. This is again due to statistics showing that women drive more safely
than men.
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