Every now and then do you think to yourself, “why do i pay this much for automobile coverage” well, if you have you are not without help. In the U.S. We are required to have automobile insurance, it is the law and no one really wants to go to jail or be sued becuase they don’t have auto insurance!
So, we have to have it but why do we have to pay so much and what factors cause us to pay more then others? Well there are hundreds of factors that could potentially cause you to pay more then your neighbors but the ones below tend to cause the greatest increases. So if possible steer clear of the problems below… no pun intended.
1 — Try to uphold a clean record when it comes to traffic citations. If you have a lead foot well you need to stop! A speeding citation will KILL your wallet/purse. A single speeding ticket can cost you a lot in fines but boy are you going to shell out much more on your auto insurance policy. How about a 100-300 percent in premium payments? Yeah… Don’t drive too fast.
2 – Do you have a son or daughter? If so you are going to pay dearly when they reach driving age. Teens are a huge liability for car insurance companies. They speed, they don’t pay attentions, and they are easily distracted. They are pretty much a ticking time bomb. Most people get into at least a minor bump up by the time they are 21 and this why their premium payments are much higher.
There really isn’t a way of reducing payments when it comes to new drivers, you just have to shop around from company to company and hope you find a good deal.
3 — If you have been in a few minor wrecks or a major incident then you may be paying more then others. In reality you probably are. The one way to fix this is to go to a fresh auto insurance provider, one that offers accident forgiveness programs.
4 – So you have a high performance car? Good for you but you are paying a lot for car insurance. If you want cheaper insurance you need to get rid of the flashy car, sorry!
As I said there are tons of factors that cause insurance prices to change, they go up, they go down. The only way to really make sure you have a fair policy is to shop around. Get a few online quotes and see what you can find. Good luck.
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