Factors that impact Insurance premiums.
Although insurance rates vary from person to person, no two drivers are the same, and certain factors may affect premiums. Keep in mind that all policies are based on statistics.
Location: Move if you can. Insurers typically look at where you live when calculation rates. People that live in highly populated, urban areas will probably pay more. Essentially, the more crowded, the more people on the road, the more likely you will have an accident.
Male or Female and Age: Young men pay more than young women because statistically they have more accidents. However, as you get older this reverses, as older women get into more accidents than older men. Kind of makes sense to me.
Make/Model of your vehicle: The type, age and safety ratings will affect your premiums – obviously more expensive cars cost more to repair. Certain models are more desirable to thieves and should also be considered, as this will affect the rate. A good idea is to visit Nerdwallet.com or shop around to determine how all of this will affect your premiums.
Commuters pay more: People who drive less may get a lower rates. Reducing commute time.
Get married: Married people pay less. Oddly enough, a study by the National Institute of Health found that single drivers are twice as likely to be an accident compared to married couples. So if you were holding off, waiting for a good reason – here ya go…
Follow the rules: Drivers with moving violations, drunk driving etc. will pay more. Hello – drive like an idiot, then be prepared to pay through the nose.
Deductible Coverage: To me, this is like a craps shoot – this is personal choice, and you need to weigh all of the risks.
Nerdwallet link has some other interesting information and can be helpful: https://www.nerdwallet.com/blog/insurance/estimate-car-insurance/