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Submitted by: Hannah Munson
Car insurance cost differs from one insurance company to another. But all of them follow similar steps in determining the right cost of each car. It includes the type of vehicle you own, the type of coverage you want, your location, and other important factors too. So you have to remember the following:
Type of coverage
If the owner of the car is not insured and he wants to include himself in the coverage, it means it will be more costly. But for those who are already insured, the car insurance is going to be less expensive.
Type of vehicle
Your vehicle has a huge factor in helping the insurance companies determine your car insurance cost. The more expensive your vehicle costs, the more expensive your car insurance gets. A luxury car is more likely to have bigger cost of car insurance, than a family sedan.
Driving habits
Does your work require you to go to many places in a day? If oftentimes you drive in a jam-packed area with high risk of mishaps, the more likely your car insurance will cost you, than a person who just works at home and who only drives to the office and back home again.
Age
Car owners below 20 years old usually have a higher cost of car insurance than the adults do, because accidents are prone to this age group. Amount varies depending on the rise and fall of accident rates in each age group.
Marital status
Due to some statistics that show less accident rates committed by married people than singles, they are being given discounts for this.
Gender
Other statistics also show that females drive safer than males, so females pay a lesser car insurance cost than males do.
Driving record
Your driving experience in the past will tell the car insurance company on what type of driver you are. If you had met a lot of accidents in the past, the company will surely make you pay more than those who had a clean and safe driving record.
Car insurance can cost as low as $522 every year to as high as $1,000 $4,000 a year depending on the factors mentioned earlier.
While these are many of the factors that are listed above, you re going to want to make sure that you talk with at least 3-5 companies. You re soon going to realize that many of these companies are going to greatly vary with their price tag. Don t go with the first place that you call, as you will find that there s a good chance that you may get ripped off!
Be sure to talk with an agent and discuss your options. You will find that you don t want to get ripped off, because many agents out there are going to try to take advantage of. This is something that you re not going to want. In the end, you will definitely want insurance, but make sure that you get something that works best for your situation.
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Source:
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