LOS ANGELES, CA / January 11, 2021 / Compare-autoinsurance.org (https://compare-autoinsurance.org) has launched a new blog post that explains the main factors that cause car insurance rates to skyrocket.
For more info and free quotes, visit https://compare-autoinsurance.org/factors-that-can-make-car-insurance-expensive
When determining rates, insurance companies thoroughly analyze the client’s vehicles. Besides engine performance and safety rating, there are other elements that will influence the costs. These are:
- The exact type of car. Driving an expensive car like a sports car, muscle car, or a top of the line limousine will make its owner pay more expensive premiums. Insurance companies take a higher financial risk when they insure an expensive car and they try to limit the potential losses caused by a claim.
- Car’s age. New cars are more expensive to insure, no matter what type they are. Usually, the value of a car can depreciate by up to 60% from the moment it leaves the dealership. Purchasing a slightly used car will help drivers get better rates.
- Driving record. A clean driving record will help drivers get better rates. On the other hand, a driving record filled with unpaid speeding tickets, at-fault accidents, and even DUI accidents, will make rates really pricy, and in some cases, the insurance company can cancel coverage.
- Distance from the workplace. Insurance companies ask drivers if they use the vehicle to reach their workplace and how far is the workplace from home. Expect to pay more if the workplace is far from home. Insurers consider that persons that work far from home, will spend plenty of time on the road while being tired, and thus the risk of causing an accident significantly increases.
For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org
Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.
“Car’s age, model and value will have a deep impact on your insurance rates”, said Russell Rabichev, Marketing Director of Internet Marketing Company.
SOURCE: Internet Marketing Company