5 Key Factors That Can Determine Your Car Insurance Payment Amount

A new car can mean many things for you and your family. It’s the perfect road trip vehicle during those warm summer months, it can act as a minibus of sorts for your kid’s soccer game, or it can also be the luxury vehicle you need on date night. Of course, a new vehicle also means needing insurance coverage, and it’s something that weighs heavily on many people’s minds. But don’t worry, there are several factors that you can identify to help you determine your possible car insurance cost.

Your Driving History

Your driving history can have a significant impact on your car insurance costs. The number of accidents you’ve been in, infractions you’ve received, and insurance claims you’ve been subject to will inevitably sway your potential insurer in determining how much your premium will be. The cleaner your record, the better your chances of receiving a favorable and affordable quote.

The Type of Vehicle You Drive

As you can imagine, if you walk into any insurer’s office and they see that you’re driving a 1970s sportscar with low safety ratings, there’s a possibility your payment to insure it will be astronomical. Always remember that new vehicles of appropriate sizes and great safety ratings will almost always cost less to insure.

Where You Call Home

Let’s say you live in a big city with a buzzing nightlife and busy workforce. Great! But that city has dense traffic, high theft rates, and even higher accident percentages. Not so great. As much as you love this city, these factors may be reflected in the insurance quotes you receive.

Your Credit Score

If you’ve been around long enough to own a car, you know exactly how important a credit score is. It determines whether or not you can get a credit card, a loan, a house, a car, and more! Yes, that also includes insurance. Keep in mind that the relation between your insurance and credit score isn’t as black and white as it is with a loan, but there’s a big chance your credit score will affect your insurance premiums.

Gender and Age

According to statistics, male teens get into accidents at a higher rate than female teens. With that said, older women are much more likely to get into minor crashes than older men. That is to say, your age and gender can potentially have a say in your overall insurance costs.

Let’s Find the Right Policy for You

Car insurance is not necessarily rocket science, but we can see where things might get confusing. At Shepard Walton King, our insurance agents want to help you understand all of the ins and outs of your car insurance policy so that you know exactly how you’ll be protected. Have questions? No problem! Get in touch with us today by contacting our insurance agency in McAllen to get started on your search.

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