What Are The Most Influential Factors That Determine Car Insurance Rates

LOS ANGELES, Nov. 2, 2019 /PRNewswire-PRWeb/ -- Autocarinsurancecheap.com has launched a new blog post that presents the most influential factors that can affect car insurance premiums.

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Before granting coverage to someone, insurance companies will analyze multiple factors. Some of these factors can significantly influence the final price of insurance.
The most influential factors that affect car insurance rates are the following:

• Gender and age. Statistics show that male teenagers are more likely to be involved in car accidents compared to female teenagers. For this reason, young male drivers will pay more on their insurance compared to young female drivers. On the other hand, older males have better insurance premiums than older women.
• Marital status. Married persons tend to be more responsible when they are in traffic and they cause fewer accidents compared to unmarried people. Insurance companies know that and will offer better insurance rates to married people.
• The neighborhood where the driver lives. Drivers that live in densely populated urban areas where there are more cars on the roads are more likely to be involved in car accidents or have their cars stolen. In this case, drivers will have to pay more on their insurance.
• Profession. Insurance companies can make a correlation between a driver's profession and his risk of being involved in a car accident. If someone's job involves spending time on the road, then his insurance premiums will be higher.
• Age of the vehicle. There are higher chances for an older vehicle to be declared totaled. This happens often when the costs to repair a damaged older vehicle are higher than the actual value of the vehicle.
• Likelihood of theft. Drivers can search on various websites lists with the most stolen vehicles in the previous year. Vehicles that are on top 10 on these lists will be more expensive to insure.

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SOURCE Autocarinsurancecheap.com