6 Things That Influence Your Car Insurance Rates
If you’re looking for affordable car insurance in South Carolina, you’re probably wondering why some people pay less and some people pay more for car insurance, often for the exact same vehicle!
Insurance carriers look at a variety of factors to determine how much each driver should pay for car insurance. These factors determine how likely the driver is to file a claim and, in turn, cost the company money. Here are five things that affect your car insurance rates in South Carolina.
Your driving record
If you’ve got proof that you’re a safe driver, your car insurance rates will probably be lower than your friend who has lots of tickets and accidents. Car insurance companies will typically pull your driving record for the last three-to-five years, which can be helpful if you had tickets or accidents in the past but have since changed your driving ways!
If you have a lot of moving violations, a DUI, or were found “at fault” in multiple accidents, you may be looking at very expensive premiums because you’re considered a high-risk driver. You may not be able to get car insurance at all. If you’ve got a complicated driving history and are having a tough time finding insurance, give us a call. We can help.
The type of car your drive
The most expensive your car is, the more expensive it is to insure. Plus, your insurance company will look at repair costs data for the make and model of your vehicle and factor those into your car insurance rates, as well. The more bells and whistles your vehicle has, the more you’ll pay for car insurance in South Carolina.
Younger people tend to pay more for car insurance because they have less driving experience and tend to get into more accidents. If you’re young, you can offset some of your higher insurance premiums with a Good Student Discount.
Where you live
Just like housing is more expensive in urban areas, car insurance is, too. Living in a city raises the likelihood that your vehicle will be involved in an accident, theft, or vandalism, simply because you’re surrounded by so many people and other vehicles. Rural areas tend to have the lowest car insurance rates.
Your credit rating affects nearly everything you do in life with money, and car insurance is no exception. The better your credit, the less you’ll pay for car insurance. Good credit shows your car insurance company that you are contentious and, therefore, lower risk.
What kind of coverage you choose
The more coverage options included in your car insurance, the higher your car insurance premiums will be. That’s not to say that you should go with minimum coverage just to save a buck. What’s important is to find the RIGHT amount of coverage that truly covers you in case something happens, while still staying within your budget. Give us a call today, and we’ll run the numbers for you and help you find coverage that works for you.