Reduced Auto Insurance Rates - How to Cut It Your Insurance Rates now
Reduced Auto Insurance Rates - How to Cut It Your Insurance Rates now
Sometimes we wonder about things like how do the companies like the car insurance companies come up with their quotes? We want to know why they can't be more categorized and generalized for everyone instead of individually and how we can cut auto insurance rates.
Well the reason behind this is because they want to customize their service to every individual. If they made it one price or categorized things then that might be unfair to the people that are safe and reward the ones that are often careless and also it wouldn't be that great for the poor people that can't afford that much to begin with.
The companies take a lot of statistical data and evaluate the risk of things and come up with a logical figure. The insurance rates are factored and many things account for the cost of the premium that each of us pay. Some of the things that affect if we can cut aut insurance rates are the following:
* Credit score is one of the biggest and greatest concerns that most auto insurance companies take into affect. They are going to take into consideration the payment history, credit score and the debt ratio. When the person has a high credit score, they will usually be offered a discount, where as for the others with a credit score not to high, they will pay a higher price in premiums, unless they pay their premiums in a single payment which can help to cut auto insurance..
If your credit score is not good consider paying in a lump sum or you may pay high interest each month.
* Driver. The age and the sex of the driver also affects the insurance premium rates that you will be paying. Sometimes people think that because women are safer drivers then men and they are offered a much lower rate then men that there is discrimination there, but there isn't.
There have been studies that show that women are just more careful then the men. Also the ages of the driver take some of the affect in the rate. Drivers over the age of 70 and under the age of 25 are deemed to be risky drivers.
If you are a young driver consider putting yourself on your parents policy to save money.
* Driving history. Another thing that can make a decision in how much your going to pay is the driving history. If someone has a nice and clean driving record, more then likely the rates are going to be lower then someone that has traffic tickets or a DUI.
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