Age — insurance companies use your age in their overall rating algorithms. Drivers who are under 25, and over 65 typically don’t get preferred rates because statistics show that those two age demographics have the most loss frequency and are therefore more at risk for financial loss due to an auto accident.
Credit — credit is a metric that has been used in insurance scoring for many years. The better your credit, the more favorable your rates will usually be.
Car — the type of car, engine size, safety features, etc. are all part of determining the rate.
Driving History — your driving record and loss history plays a substantial role in the price. If you have a spotty driving history, or multiple moving violations or accidents, chances are, you will not get a preferred rate until those things are at least 3 years old.
Household — insurance companies underwrite at the household level, meaning they try to judge based on the entire household, what the probability of loss will be. If there are multiple drivers in the house who are under the age of 25, that will impact everyone’s pricing in the household.
To get started reach out to discuss your needs. In most cases all we will need is a copy of your driver’s license and a copy of your current insurance declaration page. Drive safely!