Personal Information That Can Affect Your Auto Insurance Rate

Auto InsuranceKnowing all of the ins and outs of auto policy rates can be almost impossible, but knowing what things can affect your insurance rate can help you get a head start on lowering your cost. Personal information from your driving record to your marital status can have an effect on how much you pay for your policy.

Your Driving Record

Most people are aware that tickets and accidents appearing on their records can affect the cost of their premiums, but did you know that other claims on your record such as a windshield repair or roadside assistance can also increase the amount of insurance in Westport CT you pay? One of the records that your company will look at is an underwriting expense report. This report contains the information your previous companies have filed about the amounts they have paid out on your past and present policies. Each state allows different items to be included in rates, so you might not be charged more for a windshield repair in your state, but you could pay more if you’ve had your vehicle towed in the past.

Your Marital Status

Single parents sometimes seem to get a bad rap all the way around, and automobile policies are no different. Divorced people and single parents sometimes pay more than single or married people for premiums. If you get a quote and this question pops up, your company might be rating you according to your marital status instead of simply checking for other drivers in the household.

Your Occupation

Some occupations are considered more risky, and they aren’t always the ones you would expect. You might think daycare providers and food delivery drivers would pay more for their auto policies because they use their vehicles for work, and they often do. Other occupations are less obvious. Some companies consider on-call personnel like nurses and emergency medical technicians to be higher risks because of their odd hours and their need to get to work quickly.

 Your Credit Rating

Most companies review credit reports for people who apply for new insurance policies as well as customers who have been with the company for awhile. Many review credit reports on a regular schedule, such as at every policy renewal or every year. These reports can increase your rate if you have poor credit because a low credit score will prompt your company to consider you a bigger risk. Statistics show that people with poor credit are more likely to make more claims on their policies because they are less likely to have the money to pay for minor repairs. Instead, they rely on their policies to cover these costs. This can seem odd, since people buy policies to pay for repairs when their vehicles are damaged, but remember that the number of claims you have will also affect how high your monthly bill is.

These are just a few of the things that can affect the rate of your auto  insurance policy. Putting yourself in a favorable position in these categories can save you some money, or you can ask your insurance agent in Westport CT about discounts you may be able to get or click here to learn about insurance in other areas of the country.



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