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Car Insurance Premiums: Cost Factors and Payments (2023)


Impact on Car Insurance car rental in hanoi

Type of Car

The type và value of your vehicle can affect your car insurance rates. If your Model of vehicle has high theft or crash rates ( as bởi vì many sports cars ) your insurance premium may be higher. Your vehicle’s value also determines the cost of comprehensive và collision coverage. New cars tend Khủng be more expensive phệ insure than older vehicles .

Driving Record

If you have a poor driving record ( speeding tickets, past accidents, DUI, lượng truy cập violations or other incidents ) you will have higher rates for a mix period of phút giây, typically around three years after each violation .

Driving Habits

How often you drive can affect your premium rates. Many insurers offer usage-based discounts for drivers who don’t use their vehicles often .

ZIP Code

The crash và theft rates in your thành phố can impact your premiums. Your state also matters, as each state has different insurance regulations & required minimum coverage .


Younger drivers typically pay more for tự động insurance. The highest rates are assigned mập drivers between the ages of 16 và 25. Experienced drivers receive lower rates until about age 55, when rates rise slightly again .

Gender Listed on Your License

In some states, people listed as men are charged higher premiums than those listed as women or vice versa. In California, Hawaii, Massachusetts, Michigan, Montana, North Carolina & Pennsylvania, insurers are not allowed phệ base insurance premiums on gender .

Credit History

In some states, having a better credit score means better tự động insurance rates. In California, Hawaii, Massachusetts và Michigan, insurers are not allowed mập mix rates based on credit scores. In states that bởi, drivers with poor credit tend Khủng pay more for coverage .

Marital Status

Married drivers sometimes receive lower tự động insurance rates than single drivers .

Coverage Level

You’ll pay the lowest car insurance premium if you only carry your state’s minimum required coverage. Purchasing higher coverage limits or more exhaustive policies will increase your premium .


Collision và comprehensive insurance policies typically include a deductible. Choosing a higher deductible will result in a lower premium .


The discounts for which you are eligible affect your rate. Common car insurance discounts include a homeowner’s discount, military discount, multiple policy discount và pay-in-full discount .

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