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Compare Auto Insurance Rates In Your Area...Find Out How Much You Can Save
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Why is my car insurance so expensive?
Your rates are determined by a number of factors...
-driving record
-usage, how you are using the vehicle, work, pleasure, business
-how many drivers you have and their ages
-how many vehicles you have
-what kind of coverage limits you want
-what area you live in
-your payment history
-your insurance credit score
-your claims history
-your daily, weekly, annual mileage
-plus a few more but you get the idea.
So since your rates are determined by so many factors there are many reasons why you could be paying higher rates than other drivers. If you have a low credit score you could pay high rates. If you live in an area of town with high claims frequencies you could pay higher rates.
It's all based on the risk you pose to the insurance company. If your rating factors show portray you as a high risk due to your driving record, credit score, or claims history, etc., then your insurance company will charge an appropriate premium to the risk you pose.
Now, that doesn't mean another insurance couldn't perceive you as a slightly better risk than your current company. So, every year at least, you should shop around your car insuance. Get a quote from several different companies and see if you can save money.
The moral: Insurance premiums are based on risk. If your rating factors present you as a high risk then your premiums will be high.
On a similar note, you may have a teenage driver and want to know why your rate skyrocketted when they got their license, here's why your auto rates jumped up.
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