When shopping for auto insurance, you may wonder if there’s a magical formula used to determine your rates. In fact, most providers review a number of areas that can potentially reduce or increase premiums. If you’re in the market for new coverage, here are several factors to keep in mind.

4 Factors That Can Determine Your Auto Insurance Rates

1. Marital Status

Car insurance providers have found that people who are married are less likely to be involved in accidents. Fewer or no road mishaps generally means wedded couples don’t file as many insurance claims as single people. Just for your own information, ask your agent to provide a side-by-side comparison of coverage costs for a married couple and a single person.

2. Discounts

You would be surprised at the number of discounts car insurance companies offer. From incentives for installing anti-theft systems to passing a defensive driving course, applying them could offer significant reductions in your coverage. Be sure to ask about all of the discounts you’re eligible for, including for annual renewals and good grades earned by your teen drivers.

3. Location

Where you live is also a factor when it comes to premium payments. If you live in the city where more vehicles are, there is a greater chance of being involved in an accident. The coverage in these areas may be higher than those in rural communities. Living in a bigger city can also mean an increased possibility of vehicle theft. As a result, some auto insurance providers may assess higher rates.

4. Age

Teen and younger drivers are more prone to be involved in accidents. Coverage can be higher for these demographics. Many providers view the age of 25 is the threshold for offering lower auto insurance rates. The theory is some drivers have gained more diligent driving experience by then, which lessens the chance of being in an accident. On the other end of the age spectrum, coverage may also be higher for some older drivers given their reduced reaction times on the road.

Barnes & Howell Insurance, Inc. in Gainesville, GA, takes pride in offering its clients budget-friendly coverage without sacrificing reliable vehicle protection. It’s why the independent agency has offered auto insurance to residents in Hall and Gwinnett counties and metropolitan Atlanta since 1993. What makes the firm unique is its ability to shop for rates from multiple carriers to ensure you get affordable coverage. For a free, no-obligation insurance quote, call (770) 718-0202 or request one online.