 INSURANCE RAA |
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| What determines the price of my policy? |
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There are many factors that influence the price you pay for auto insurance. The average American driver spends about $850 a year. Your premium may be higher or lower, depending on: Your driving record The better your record, the lower your premium. If you've had accidents or serious traffic violations, you will pay more than if you have a clean driving record. You may also pay more if you haven't been insured for a number of years. The number of miles you drive each year The more miles you drive, the more chance for accidents. If you drive a lower than average number of miles per year, less than 10,000, you will pay less. For instance, some companies will give discounts to policyholders who carpool. Where you live Insurance companies look at local trends, such as the number of accidents, car thefts and lawsuits, as well as the cost of medical care and car repair. Your age In general, mature drivers have fewer accidents than less experienced drivers, particularly teenagers. So insurers generally charge more if teenagers or young people below age 25 drive your car. Some cars cost more to insure than others. Variables include the likelihood of theft, the cost of the car, the cost of repairs, and the overall safety record of the car. Of course, like anything else, the more coverage you have, the more you pay. However, you may qualify for discounts. Article by: Insurance Information Institute Tags: price of insurance policy cost of insurance policy cost of life insurance policy cost of health care administration costs of health care administration costs of health care administration in the united states and canada insurance policies premium insurance life policy companies policy definition of insurance policy life insurance long term care insurance insurance coverage claim insurance underwriting insurance liability insurance general liability insurance cover insurance broker insurance insurance risk financial insurance small business insurance insurance claims financial policy insurance benefits quote insurance industry policy medical insurance insurance agent cheap insurance insurance companies direct insurance insurance car motor insurance uk insurance insurance quotes general insurance travel insurance annual insurance commercial insurance business policy insurance agents holiday insurance insurance plans health insurance group insurance policy risk health care insurance policy policies fire insurance cheap price fire of |
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