Factors That Affect Your Auto Insurance Quote

Getting an auto insurance quote can be quick and enlightening. This is especially true for consumers that aren't sure about the many factors that can raise your auto insurance quote, as well as those that can bring these quotes down. These are a few key factors you want to keep in mind as you explore your auto insurance options.

Your Credit Score Matters

Many people are shocked to discover that insurance companies use credit scores in their risk assessments. They have determined that those who have lower credit scores are at a greater risk for accidents, lapsing policies, and other challenges for the insurance provider. They mitigate their increased risk by charging higher premiums to people who have lower credit scores. Consider waiting until you can improve your credit score to purchase a new vehicle, when possible, to get a lower auto insurance quote.

Bundling Saves Big

Insurance companies want you to be a loyal customer. With that in mind, they are willing to reward people who have multiple policies with discounted rates. Whether you're bundling multiple auto insurance policies or an auto policy with a homeowner's or renter's insurance policy, if you bundle your policies, it can save you a bundle on your premiums. These savings will show in your auto insurance quote.

Wedding Bells Can Bring Big Discounts

The general consensus among auto insurance providers is that people who are married are settled. This means they are less likely to take reckless risks behind the wheel of a car. For that reason, they offer lower premiums. If you've recently gotten married or have never bothered to adjust your insurance after marriage, make sure you mention that you are currently married when you get an auto insurance quote. You might be amazed by the savings it generates.

Your Daily Commute Can Drive Insurance Premiums Higher

The longer your daily commute, or the more miles you drive in a year, can really drive your insurance premiums through the roof. The truth is that every moment you're in your car is a moment of risk for the insurance company. Their business is devoted to minimizing their risks and maximizing their rewards. They compensate for the added risk of a longer commute with higher insurance premiums. That is why they ask how far you commute to school or work when you get an auto insurance quote.

These are just a few of the factors that can affect auto insurance premiums for drivers and the price you'll receive when getting an auto insurance quote. For more information, contact a local insurance provider, like The Lofrumento Agency, Inc.