How much you pay for your car insurance in Virginia is affected by all sorts of factors. However, each factors caries different weight and affects your premium differently. While some insurance companies rely on one set of factors, others rely on another set of factors. That is something that largely depends on the company policy and what the strategy that the particular insurer has. Here are some of the most common factors that almost any insurer considers when your premiums are made.
10. Age
Age can strongly affect your premium. For an example teenage and older people in average pay the highest rates regardless their individual driving skills. Just because you will fall in that category you will pay high premiums. On the other hand middle aged drivers with clean driver’s record pay the lowest premiums.
9. Marital status.
Married people are considered to be more responsible drivers and as a result of that they are given lower premiums. Single people on the other hand are so to speak penalized by the insurance companies for not being married and are given higher rates. The solution is more than obvious: get married.
8. Safety features
The existence of alarm system, automatic seatbelts, airbag, ABS and/or other safety equipment automatically qualifies you for discount. On the other hand if you have no safety feature in your vehicle you will pay higher premiums. This is pretty important to every car insurer and strongly affects the premiums.
7. You do badly at school
You are full time student but you have a low average. Too bad because if you had an average B or higher your premium would be much lower. Your driving abilities won’t help you as your performance at school. Once again the solution is pretty obvious; hit the books if you want to pay lower premiums. Most of the insurers see the high average as a sign of responsibility and that is why they take that step.
6. Mileage
According the logic of the insurance companies the more time you spend on the road the better your chances to be involved in some sort of traffic accident. As a result of that they award you with higher premiums regardless if you were or were not involved in any traffic accident. On the other hand if you drive less than 7.500 miles per year you need to notify your insurance agent about it. That qualifies you for discount. How much the discount will be it depends of the company policy and how they calculate risk? Therefore if you need to decrease your mileage consider public transportation, biking and walking as alternative means of transport.
Many people don’t bother to take the defensive driving course even so that it’s pretty easy one and doesn’t take too much time. Every insurer in Virginia will grant you a discount if you provide a proof that you have passed the course. The car insurance companies are obligated by law to give you a discount if you show them your certificate that you have passed the course.
4. Expensive vehicle
Things are pretty simple in this department, the more expensive or newer your vehicle is the higher your premium. The reason why is so is because if you are involved in an accident the vehicle will cost much more to repair than some used or less expensive vehicle. If you intend to buy an expensive vehicle you better be prepared for high premiums because they will be waiting for you and there isn’t much to do about it. This is pretty much the same with any insurance company in the world, not only in Virginia.
3. Credit rating
The credit rating is considered as one of the most unfair and at the same time the most controversial factors that are taken in consideration when the insurer is making your premiums. According to the insurers the lower your credits score the higher risk you are and with it your chances to be involved in some sort of traffic incident are much higher. However, there are some insurance companies that don’t take this in consideration. So, if you have a bad credit score you need to look for insurers that don’t take that in consideration. There might be not many left but if you look harder you will surely find one. On the other hand if your credit score is good you can relax and worry less about your premiums.
2. Traffic violations and accidents
Past car accidents and other traffic violations can make your premiums reach to the sky. Nothing speaks more to an insurance agent than your past sins on the road. There is nothing that you can do about it if they are written in your driver’s record. On the other hand if long time has passed from the time you can opt not to tell your insurance agent. There is an act from 1974 that gives you the right to do so. If your insurance agent knew about that your new one does not have to and you have the law on your side not to tell him that.
1. Driver’s record
This is the most important factor. This is where all of your past as a driver is gathered. Every insurance agent bases large percentage of his assessment on what is written in that record and your premiums with that are largely affected. The cleaner it is the lower your premium will be and vice versa.
In addition to all that was already said about car insurance in Virginia
and how it works, there is one more thing to have in mind if you want to find the best deal. That is to ask for quotes from as much as possible car insurers. If you want to do that right away just enter your zip above on this page and you can have your free quotes. No factor can influence more your premium than using this online tool to get free car insurance quotes in the state of Virginia.
