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What Do You Know About Car Insurance Prices?

American Government Special Collections Reference Desk

What Do You Know About Car Insurance Prices?

Mike Miscal
November 27, 2012


Copyright (c) 2012 Mike Miscal

The odds are that you do not know much about car insurance prices- nor should you. Car insurance prices are dictated by a number of different things. If you are aware of the different factors that control car insurance prices you will be able to quickly and easily identify a good deal when you are shopping around for new car insurance. That said, it is always a good idea to talk to the insurance agents about their prices to get a better understanding of exactly what went into the price that they gave you.

One thing that some people do not realize is that age rally affects the price of car insurance. For example, a young driver will have to pay more for car insurance than a seasoned driver just because they are young. The insurance companies view young drivers as a high risk which means that they will be more likely to get into an accident. Because the risk is so high so is the price! The bad part is that there is nothing you can do about it- just wait until you are a bit older to enjoy lower prices!

Another factor that can affect car insurance prices is the type of car that you have. Once again, drivers that have fast cars will be deemed high risk. This means that they will have to pay a bit more for their car insurance because they will be a bit more likely to get into an accident. One of the best ways to get lower car insurance prices is to drive a non-sports car that is not likely to get stolen. These two factors will really help you keep the cost low when you are in the market for new insurance.

Your driving history also plays a vital role in car insurance prices. For example, if you have a history of getting speeding tickets and being in accidents your insurance is going to be a bit higher. Once again, you will be considered high risk. On the other hand, if you have a clean driving record you will be considered a low risk and not have to pay a marked up premium for your insurance. By maintaining a good driving record you will really be able to see your insurance prices come down since you will not be considered a high risk driver.

Lastly, your level of coverage will obviously affect the price. Make sure that you are not over insuring your vehicle in order to get a good deal. For example, if you have a vehicle that is a few years old and not worth too much money you will not want to have full coverage on it- that would be a waste of money. Instead you will want to have minimum coverage on that car since it will not be repairable if it is wrecked. Make sure to review the details of your policy with your car insurance agent so that you are sure you are getting the level of coverage that is appropriate for your situation.

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