- Jeff Joseph
Factors that Determine Your Auto Insurance Premium
The advertisements for how much you could save on car insurance are everywhere. Claims include ‘Save 15%’ by going to one insurance company, get the lowest price on your car insurance from another. But any insurance company can say that they will offer you the lowest cost on your auto insurance – as long as you’re willing to decrease or eliminate various coverages designed to protect you. The result of falling for these advertising claims may result in your not be sufficiently covered should you have a claim and ultimately will not serve your best interests.
What Affects the Cost of Auto Insurance?
The amount auto insurance premium you’ll pay depends on many things which includes:
The type of coverages (collision, liability, comprehensive, uninsured and underinsurance motorist protection)
The type of car you drive
How often you drive your car
Where you live and park your car
If your car has anti-theft features
The deductibles and policy limits you choose
Your insurance score (a statistical tool that predicts the likelihood of your filing a claim and the likely cost of that claim)
Your gender and age
Your driving record
The state where you live
Saving Money on Your Auto Insurance
There are many discounts available that will help lower your insurance premium. These include:
Safe driver discounts
Good student discounts (for those who qualify)
New or hybrid/electric car discounts
How and when you pay your premium
Driver training classes
The professionals at Mitchell-Joseph Insurance Agency can help you determine which limits, deductibles and coverages are right for you. We can also help identify any discounts you may qualify for. Get in touch through our website's contact form using the link below.