Depending on one thing or another, your personal auto insurance rates may rise. This might come as a surprise to you, if you are a senior driver with clean driving record and plenty of safe miles and time behind the steering wheel. The bad news is there are several factors which can impact your car insurance rates, the good news is – all of those factors are under your control.
Shop your car insurance often
Overtime all car insurance companies will raise your rate. Most insurance companies will offer low upfront rates and raise them overtime to reflect their actual claims expenses. Shopping for your car insurance often is important if you want to keep your rates low. Using the services of a reputable independent agent that has access to multiple car insurance companies is very helpful. The independent agent can check your rates and offer insurance the best fits your needs.
A good credit score
One of the factors that insurers take into consideration when determining your auto insurance rates is your credit score. Your credit history also. So, in order to keep low rates, you need to have a clean credit history and solid credit score.
The type of car you drive
According to a study, most of the senior citizens of the United States either buy an automobile that costs more to insure or drive cars which are generally old, lack modern safety equipment and are generally in a bad or even dangerous condition. And this is important, because the features of your car are one of the main things that impact the cost of your auto insurance. Sport cars with big engines generally cost more to insure, while a smaller “city” type of vehicle can be easy on your bank account.
Relatives or friends using your address
Sometimes, seniors who live in a safer neighborhood tend to allow relatives or friends to use their address as their own, when registering their car, so that the relative or friend can get lower rates on their insurance. However, this tendency, although looking quite harmless, can lead to a lot of problems if the registered car gets into an accident. If this happens, the policyholder faces penalties or even policy loss. So, next time one of your friends asks you to use your address for a car registration – explain why this is not the best idea.
Relatives or friends driving your car
Landing your car to a friend or a relative may be a nice thing to do, but keep in mind that this is one of the factors that can dramatically change your auto insurance rates. If your relative or friend gets into an accident while driving your car, this is a major red flag for auto insurance companies. Because when you hand over your car keys, you hand over your auto insurance policy. If you have a relative who often drives your car, you can simply add him or her to your insurance policy. If the person’s driving record is generally clean, it won’t cost as much. And even if it does, all in all it will save you a lot of money in the long run.
Number of miles you drive
Another factor that can have impact on your auto insurance rate. If you are recently retired and you don’t drive your car as often as you used to or you’ve changed addresses and now you spend less time on the road to work – contact your insurance agent, because this may lower your auto insurance rate.
Of course, the factors that determine how much does your auto insurance cost are many. So, in order to find the best rates – contact our insurance agents at Argo Insurance. You will receive all the information you need to make a good decision, save money and be protected at the same time. We can offer you a variety of coverage options based on your specific needs. Also, you can get competitive rates from multiple quality insurance companies by our free instant quote (https://argoins.com/insurance-products/personal/auto-insurance-options/#) service.