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When you shop for auto insurance, the amount you pay varies based on several factors. The type and age of the car are most crucial, but other factors are also influential. You have control over some of these, while others you can do little about. Below, Albers Insurance Agency reveals five important factors that influence how much you pay.

5 Factors that Influence Your Auto Insurance Rates

1. Your Personal Characteristics

Auto insuranceYour age, sex, and marital status all affect your car insurance rates. Insurers have found that singles, men, and drivers under the age of 25 are the most likely to file a claim, so to offset the risk, insurers charge more to insure these people.

2. Your Driving Record

Your driving history is also important. If you have a record of accidents and traffic violations, your insurance provider will consider you a greater risk and charge you more.

3. Your Location

Insurers take the location of your residence into account when calculating rates. Residents of high-crime and high-traffic areas pay a premium because the risks of theft, vandalism, and collision are greater than in rural, low-crime, and low-traffic regions.

4. The Number of Miles You Drive Per Year

The more driving you do, the more likely you are to get into an accident and file a claim. Thus, the number of miles you drive per year is an important factor for insurers to consider.

5. Your Credit Rating

Insurance companies have found a correlation between financial responsibility and safe driving habits. If you have a good credit rating, you’ll pay less for auto insurance than someone with a history of delinquencies, late payments, and bankruptcy.

The five factors listed above contribute a great deal to the amount you pay for auto insurance. However, different companies give these factors different weights. To see if you can lower your payments or improve your coverage, visit Albers Insurance Agency in Cincinnati, OH. They've served the Tri-State area since 1949 and offer exceptional quality auto, home, business, and life insurance. To stop by their office, visit their Facebook page to view a map and business hours, or call (513) 891-3304 to speak with an experienced agent.

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