If you’ve just purchased a new or used vehicle, your next step is to purchase auto insurance. Many people worry about their insurance rates and how much money they are going to have to pay. Before looking for automotive insurance quotes in Nassau County, NY, doing your research to figure out exactly how much you should be paying and how the rates are determined is a great place to start. Your insurance rate is determined by several different factors, but the following 5 are the most common and have the most impact.
1. How Old You Are
Age is one of the biggest determining factors in your insurance rates. If you are a young driver, under the age of 25, you are going to be paying a higher insurance rates because of the accident rates of young people. Once you reach 26, you’ll find that your insurance rates have dropped and should remain about the same until you reach “senior citizen” status. At that point, your rates will go up, again because of the amount of accidents in that age bracket.
2. Your Driving Record
If you have collected any speeding tickets over the years, these will have an effect on your insurance rates. Your rates may also increase if you’ve filed an insurance claim. The important thing to always remember is to drive safely. If you do this, you’ll save money on your insurance.
3. Your Previous Coverage
Insurance providers look for any gaps in your coverage. Having long gaps in auto insurance covers can make you seem like a risk, increasing your insurance rates. If you can, making sure you’re always covered with insurance will help lower your rates.
4. The Type of Vehicle
There are several factors about your vehicle that can affect your insurance rates. The model of the car, how old the car is, and the ultimate value of the car can raise or lower your rates. They want to look at how much your car would be to repair or replace and determine the amount you’ll have to pay from there.
5. Where You Live
One factor that many people don’t think about affecting your insurance is your location. Insurance companies look at where you live to determine how much at risk you are. If you live in an area with higher rates of theft or in a heavily populated area, your rates may be higher.
By using these 5 factors, you can examine your driver profile and how much of a risk you may be posing to a potential insurance company. Once you figure out what range you should expect your rates to fall into, you can look for potential providers and decide which is best for you. If you’re looking for automotive insurance quotes in the Nassau County, NY area, check out website
