Auto Insurance Quotes

Turn attention that auto insurance quotes may vary and among the factors on which the rate depends is how often you get into such troubles, so whatever the insurances, try to stay away from such problems. Car crashes are not the only thing which can happen to your car: there are people who love putting nails under wheels for fun, scratching your bumper or you simply can get touched by a tender car passing by − thanks God, there will be no danger for your health, but the car will still be damaged. In all these cases, you can reduce the costs of repairing using Auto Insurance services.

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As to the factors affecting the cost of insurance, there are plenty of them to get confused. Yet the complex system used by insurance agents to calculate the price features a lot of characteristics and figures, which help them to try to predict the risks of you getting into a car trouble. Here is an extensive, but not comprehensive list of what you may be asked:

  • Basic information. This category of info covers your gender, age (which affects the costs to a great extent), your status (single/married), and place of residence.
  • Location. It’s mentioned in the previous point, but we need to elaborate the topic for you to realize why location matters and affects policy costs. First, different states have different traffic laws, some of which may affect the accident statistics on the analysis of which the risk prediction process is based. Second, areas where population density is high are more dangerous to drive since it’s easier to crash, when there are thousands of other cars using the same highway. Third, traffic laws and peculiarities is not the only thing taken into account from geographical point of view. Natural disasters also tend to occur in certain regions, and if hurricanes or floods are typical in the state in question, the costs will also rise.
  • The kind of a car you own. The characteristic of your car which defines how easy on the wallet the premium may be is the speed it can reach, e.g. the engine power. The faster you can drive, the more you’ll pay.
  • Driving history. All tickets you’ve received and all violations you’ve committed are registered and considered, when the price of your policy is shaped. It’s worthy of note that violations have different ‘value’ in terms of how they affect the price: for instance, exceeding the speed limit is bad, but reckless driving is definitely way worse − the latter can lead to doubling the costs!
  • Credit score. As statistics suggests, those with better credit score are less likely to file a claim. Yet the reason for it is not that clear.
  • Driving style and habits. Where you park (whether you have a garage), how often you use your vehicle and other peculiarities of you owning a car matter and affect the cost.
  • Coverage type. How much you want the company to pay in case of an accident and how much you are ready to pay out of pocket are no less important.

Average Cost of Auto Insurance

The average price on insurances of this kind makes up $1,325 as of 2016 if we consider a full-coverage policy. Yet this figure is, as the name suggests, only average: the difference between prices in different states can vary a great deal. For instance, Michigan is known for its highest costs. Yet it’s explained by the law which implies that every driver living in the state must also buy additional PIP coverage. Second place in the list of the most expensive states in terms of car insurance costs is taken by Montana, where the average cost equals $2,297 annually. Such high prices are set due to high fatality rate seen in the area and the rate, at which the prices there are growing, are enormous.

Stating the average cost is also difficult due to drastic difference between the costs calculated for the young and for adults. For instance, in 2014, a 16-year-old young driver had to pay $8,226 per year − an incredible sum of money, whereas a 55-year-old was likely to spend $1,845 on it.

Auto Insurance Quotes Comparison

Actually, some of the quote comparison has already been carried out in the previous paragraph, but the thing that may interest a reader most of all is the place where insurance costs are most affordable. Well, if we compare the state statistics on policies issues and premiums paid, we get the leader: it’s Maine. All is takes to insure your car is $807 a year. It’s explained by the lack of actual traffic since there aren’t that many high-density areas, natural disasters are rare and so are accidents, so all these factors benefit car owners, thus reducing the costs of insuring a vehicle.

Insurance personalization makes it difficult to say how much your policy’s going to cost you as quite a lot of factors must be taken into account. Before buying a policy, do some research, ask several companies for a quote, and choose the one the conditions of which appeal to you most.