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Key Factors that Determine Your Auto Insurance Premium

Feb 19, 2014

You can take some positive steps to reduce your auto insurance premiums, although a few factors are out of your control. Here's why:

Things you can control:

Your driving record
If you have moving violations or caused an accident, your premiums will be higher. All you can do is wait and drive safely until your record is clean again.

The car you drive
Expect higher premiums if your make and model is targeted by thieves. Premiums generally run higher on sporty models, too, since they attract risk-taking drivers.

Where you live
If your area has high rates of crime or accidents, an insurer will charge more for coverage.

Your car’s security system
Many insurers will offer a discount if your car has a security system installed.

Your deductible
If you increase the deductible on your policy, you may get a lower monthly premium. You’ll have to pay more out of your own pocket if you make a claim.

Things you can’t control:

Repair costs
If your city or state has high auto repair costs, insurance companies will have to pay more to settle claims.

Your age
Younger drivers will generally pay more, since they have a higher percentage of accidents.

Gateway Professional Insurance Services can help California drivers find the insurance they need. Learn more by contacting us.

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