Insurance companies use age statistics to determine what kinds of risks young drivers pose.

What factors determine auto insurance rates. Car insurance premium rates differ from insurer to insurer. This is because many factors affect the premium rates of your vehicle. Want Low Insurance Rates.

Adequate knowledge about these determinants may help you to reduce the premium rates especially at the time of stretched budgets. Where you live in Canada. There are many factors that determine your car insurance rate.

Factors that go into determining your car insurance rate are the biggest question most Canadians have when it comes to deciding on which insurance company to go with and which premiums they have access to. Although this is not typically true your age is an essential factor when choosing coverage for your vehicle. Its one of the biggest factors that determines your car insurance rates.

Some that are in your control and some that arent. Where you live gender and even marital status could have a bearing on how much is paid for auto insurance. 12 rows The 3 biggest factors that affect car insurance rates are state coverage requirements.

Your experience is a critical factor that determines the premium amount of your auto insurance policy. Then whether the driver is male or female is something else that is going to be looked at. Insurance providers use a variety of criteria to assess the risk profile of drivers which ultimately influences how much you pay for car insurance.

These are the 3 Main Factors The easiest way to get cheap auto insurance is to choose a policy with limited coverage which is risky and to raise your deductible which. Another factor that has an influence on your car insurance rates without any real concrete reason behind it is your credit score. The Amount Of Driving That Is Done.