Why Car Insurance Rates Differ?
- Author Remedios Lucio
- Published March 28, 2010
- Word count 594
Typically, car insurance for those younger than 25 years old have the highest premiums compared to other ages. Insurance rate depends on several factors such as gender, age, type of vehicle, your location, etc. Males have higher premiums than females because they have a much higher risk of collision.
Based on statistics, men are three times more likely to die in traffic accidents than women. According to the police, women are said to be more law-abiding than men. Men drive faster and are more careless.
Also, if men drive cars faster compared to women and then combine it with them having sporty and more expensive cars, then definitely their auto insurance will definitely become higher than women who tend to buy more conservative and cheaper cars.
So other factors that affect premiums are if your car is a sport car, expensive or large cars that can cause more damages in an accident. Another factor is the ZIP code or geographic location, which is one of the major determinants.
In short, premiums vary from state to state. For example, the average annual auto premium in Detroit is $5,072 compared to that of Eau Claire, Wisconsin which is $869.
Los Angeles, Washington, D.C., Philadelphia, and Detroit are in the top five most expensive cities for auto insurance premiums. This is because of being highly populated cities where more traffic, collisions and car insurance claims happen.
Other factors affecting rise in premiums
• Red-light running
• Number of uninsured drivers on the road
It would be good to have a car accident insurance if you have a vehicle. But who does it actually cover? Most car insurance policy covers your spouse, children, and even your friends.
According to auto insurance website, your friends are also covered since there can be instance that they will borrow your car one of these days. Also your friends are covered only on a one-time occasion. But your children’s friends who will drive your car are not covered.
There are exclusions though for car insurance policies. The policy plans may specifically outline that your insurance will only cover people who lives with you and will not cover those under the age of 18.
But also remember that there are uninsured or under insured motorists coverage, which means it doesn’t extend to people apart from you will drive your car.
The next time you get into a vehicle accident, you should already know these car insurance policies:
• Keep your auto insurance information in the glove compartment.
• Have a camera in hand to take pictures of the accident and the accident scene.
• Don’t leave the scene until the police have come and gone. Get their names and tell them what happened.
• Exchange names, addresses, driver's license and insurance information with the other driver.
• Review your policy again to make sure of your coverage.
• Report the accident promptly to your insurance company.
• Look at the declarations page of your insurance policy to see the types and dollar limits of your coverage.
• There is an insuring agreement. It details what your insurer will cover when it comes to protecting you. It will cite the exclusions, which you should know what they are.
• If there are vague statements or agreements in your policy, talk to your agent and/or the insurance department so that you can understand the terms better.
Also know that you have the right to refuse to agree with a repair job if you’re not satisfied with such as replacement of parts that are not original. So before actually owning one, know first these guidelines.
To help you deal with issues involved in a car accident, consult with our expert car accident lawyers. Visit our website and avail of our free case evaluation.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- The Role of Diplomacy in Unrecognized States: A Case Study of Somaliland
- Ontario’s New Homeowner Protection Act
- Why Nanda & Associates Lawyers Are the Top Choice in Brampton
- Essential Contracts Every Freelancer Should Have
- What to Do When Your Ex Violates a Custody Agreement
- How Houston Personal Injury Lawyers Handle Insurance Companies
- How to Prepare for Your First Meeting with a Personal Injury Lawyer in Orlando
- Best Books for Defense lawyer for Felony Robbery
- Establishing a Company in Serbia: A Guide to Business Ownership Types
- How To Get Compensation for a Work Injury
- Navigating Compliance for Personal and Professional Contributions
- Unraveling the Mysteries of Intellectual Property Law: A Comprehensive Guide
- Boston Car Accident Attorneys and Insurance Companies: A Complex Relationship
- How a Los Angeles Car Accident Attorney Can Help You
- Slip and Fall in Chula Vista: Who is Accountable?
- Can I Get Compensated After a Truck Accident in Los Angeles
- Local Tax Attorney vs Competitors: A Comparative Analysis of Legal Services in Orlando
- J. David Tax Law: Your Top Tax Levy Lawyer in North Carolina
- Who Can Garnish Tax Refunds: Your Questions Answered
- Unlock the Secrets to Handling a North Carolina Notice of Deficiency
- The Importance of Financial Services: Enabling Debt Management and Legal Debt Settlement
- Justin C Freeman
- What are the Eligibility Criteria for a Spouse Visa? How to find right Spouse Visa Attorney in Houston?
- Importance, Benefits, and Tips for Hiring a Houston Immigration Attorney
- Importance and Tips of Hiring a Houston Immigration Attorney
- The Importance of Protecting Whistleblowers
- WHY CLASS ACTIONS ARE SO IMPORTANT TO SOCIETY
- THE CONSTRUCTION INDUSTRY AND ALTERNATIVE DISPUTE RESOLUTION (ADR) MECHANISMS
- Lawyer Connections - Finding a Criminal Defense Lawyer
- “The House is Haunted” – Surely the Value should be Decreased?