The cost of your auto insurance has a significant impact on your overall cost of car ownership. Therefore, it’s no surprise that many car owners in Richmond, VA, are looking to keep their car insurance rates at the minimum level. Here are factors that can increase or lower your car insurance rates.
1. Your Age
Auto insurancers typically view younger drivers, especially those in their teens and early 20s, as a more considerable risk and more expensive to insure and charge them higher insurance rates. This is because younger drivers are less experienced. Older drivers – those above 50 years old – have more affordable insurance rates.
2. Driver’s History
Car insurance companies consider a driver’s past as a reliable predictor of their future. Therefore, if your driving history is full of DUIs, speeding tickets, and reckless driving charges, they assume you will have more of those in the future and charge you higher auto insurance rates. However, your rates will be much lower if you have a clean driving history. This is why at Bacon Insurance Group, we advise drivers to do their best to abide by traffic laws and regulations.
3. Your Credit Score
According to reliable data, drivers with a poor credit score file more claims compared to drivers with a good credit score. Thus, if your credit score is poor, your car insurance rates will be higher, and if it’s good, you will have lower rates.
4. Annual Mileage
The more miles you accumulate on your car, the more likely you will get involved in an accident. As a result, auto insurance providers usually charge higher rates to drivers with higher annual mileage than those with lower annual mileage.
Are you looking for a reputable auto insurance provider to insure your car in Richmond, VA? Contact us at Bacon Insurance Group, and our friendly auto insurance professionals will help you figure your car insurance out. Call us today.