When most people think of high auto insurance rates, they think of drivers with multiple accidents and moving violations, drivers who speed and weave in and out of traffic. Most of us also know that residents of certain cities and areas are also prone to paying higher car insurance premiums, but what if you live in a safe area and have an impeccable driving record? You should be paying little for auto insurance, right? That is not always the case, as you will soon find out. There are five non-driving factors that can raise or lower the rate you pay for car insurance.
Bad Credit Makes For Bad Drivers?
Do you have spotty credit, a low credit score? If so, then you are probably paying more for your auto insurance than someone with a similar driving record and a better credit score. Insurance companies see those with bad credit as higher risk and charge them more money per month for auto insurance.
Your Occupation Can Lower Your Car Insurance Premium
Your job can affect how much you pay for car insurance. Certain professions are considered to create higher risk motorists. Jobs that are high stress or noted for particularly long hours can make insurance companies classify you as a high-risk driver, raising your insurance premium over drivers with a similar driving record and a “safer” occupation.
The Young and the Reckless?
Even if you are a great young driver, the odds are stacked against you when it comes to auto insurance rates. You can expect to pay more than your older counterparts even if you have no accidents and no moving violations on your record.
Single Person, Double Trouble?
Car insurers view single people as more likely to take risks behind the wheel and charge them a higher rate for auto insurance than a married driver with a similar driving record. Should you get married to reduce the amount you pay for auto insurance? That is a drastic step to take but you should expect a drop in your premium after you do tie the knot.
Men Don’t Always Have It Easy
All things being equal, men pay more than women for car insurance, making it one of the few situations where it is financially beneficial to be a woman. The rate difference narrows as you age, but remains present.
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