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Four Ways You Might End Up Paying More for Car Insurance

Four Ways You Might End Up Paying More for Car Insurance

Four Ways You Might End Up Paying More for Higher Car InsuranceIt’s always a good idea to compare car insurance online before you opt for one particular plan over another. Insurance companies all tend to increase their rates for the same kinds of situations — especially after you’ve had an accident when you purchase a brand new sports car — but there are certain things you might not know can affect your monthly premiums.

Ever heard the “fact” that red cars tend to get more tickets? Total myth. There are no statistics at all to support that assertion, which is good news for folks whose favorite car color tends to be crimson. The more inside information you know about getting the cheapest car insurance quotes, the better. With that in mind, here’s a quick list of four ways you might end up paying more without even knowing it.

The Facts on Getting “Older”

You may have heard that younger drivers tend to pay more for insurance coverage because the company views them as inexperienced, and that’s typically correct. But what you might not know is that the judgment doesn’t simply end when you turn 25. Even at the relatively young age of 50, you might see your rates begin to spike again, as drivers 50 and over are considered to be “older,” and “older” drivers tend to get into more accidents. Always check with your agency to see if your affordable auto insurance quotes are suddenly increasing once you hit your 50th birthday.

The Facts on Your Credit Rating

Insurance companies don’t like risks. If you’ve fallen behind on credit card payments or other kinds of debts and your credit score has dipped to an unfavorable level, you might expect your affordable auto insurance quotes to suddenly become not-so-affordable. Low credit ratings show the insurance companies that you’re potentially unreliable, meaning you might not be able to pay their fees on time, either. That’s a risk, and as we know, more risks almost always lead to higher premiums.

The Facts on Getting a Ticket

Now, some good news. Another myth has always been that all it takes to raise your monthly auto insurance rates is one speeding ticket, but that’s not always the case. Depending on the circumstances — say, going 80 in a 35 — you might expect a bump in coverage costs, but for the most part, it really will take two or more tickets to see any kind of spike on your premium. Again, this is all dependent on a lot of different factors (including what state you’re in), but it’s some food for thought.

The Facts on Your Marital Status

Sorry, single folks — you might be forking over more to your insurance providers than your married counterparts. Like we keep saying, insurance companies don’t like risks, and married people tend to be statistically more stable (especially when it comes to responsibility and finances). You might not be able to land the most affordable auto insurance quotes without a ring on your finger, but obviously, it’s never a good idea to simply rush into a relationship, no matter what the benefits might be.

Of course, the best way to figure out exactly what’s changing on your monthly plan is to talk to a live, local agent who can help sort out your premiums.

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