What Factors Affect Auto Insurance Rates?

Insurance companies look at multiple factors when setting rates for auto policies. Some drivers can control, but others are outside of a driver’s control. Here are a few of the details that can impact auto insurance rates.

Driving Record and History

One of the primary factors affecting auto insurance rates is the driver’s history. Incidents like accidents, traffic violations, and DUIs can significantly increase premiums. Conversely, we at Focus Insurance usually see clean driving records correlating to lower rates.

Vehicle Type and Usage

The make, model, and age of the insured vehicle(s) affect safety and repair costs. They thus directly influence the rates of multiple coverages. Liability rates may be lower for safer vehicles, but damage coverages might cost a bit more.

Driver’s Age and Gender

Younger drivers, especially teen drivers, face higher insurance rates due to inexperience. Gender can also influence premiums, with some statistics showing differences in risk between male and female drivers.

Credit History

In many states, including Missouri, insurers consider credit history when setting auto insurance rates. A good credit score indicates financial responsibility, which insurers might view as safer on the road.

Location and Local Risk Factors

Where a driver lives, whether in Eureka, MO, or elsewhere, has a role in accident rates, crime rates, and other factors that insurers consider. Where a vehicle is kept, such as in a garage or on the street, is also a factor.

Tailoring Auto Insurance to Your Needs

Auto insurance rates are influenced by various factors, making it important to work with knowledgeable agents when shopping for a policy. At Focus, like Focus Insurance, our agents have the expertise necessary to help you find auto insurance in Eureka, MO.