Jim Horne Insurance Agency, Inc. Blog |
 Your car insurance rate should reflect how risky you are to insure. Speedy drivers should pay more, right? But that isn’t necessarily true. There are factors that affect car insurance rates that don’t have anything to do with your driving habits. Here are five factors that can affect your premiums. Occupation
Some insurance companies consider occupations when insuring a car. For them, certain occupations are more likely to file claims. Others in certain industries might get discounts, such as government employees, teachers, or emergency workers. Home Ownership There are some insurers that give discounts to homeowners on their auto insurance whether or not you buy a home policy from them. However, you may be eligible for even more savings and discounts if you bundle both of your policies with the same company. Marital Status Insurance actuarial data suggests that marital status correlates to risk. Married couples typically have fewer claims, and therefore pay less in car insurance than single individuals. But keep in mind that while being married can get you several discounts, your company may also remove them if you split your household or if a spouse dies. Educational Attainment Drivers that received more education pay lesser car insurance. Some insurers charge drivers without a degree 20% higher in car insurance than someone who graduated with a bachelor’s degree. Grades Your grades also matter to some insurers. Those with good grades are offered lower car insurance rates. Most insurers offer insurance discounts to drivers who meet one of the following criteria:
When it comes to insurance, it would be best if you shop around. Choose policies that would best serve your needs without compromising coverage. Shop around even during your renewal period. Jim Horne Insurance Agency is an independent insurance agency that offers a wide range of insurance products to the residents of Alabama. We offer auto insurance policies that could give you just the right coverage that you need at a competitive price. Get a quote from us now and talk to one of us. Call us at (334) 244-0600 or visit us at our office today!
21 Comments
3/1/2018 04:43:31 am
Nicely written blog comprises some of very important information regarding the factors that could affects the auto insurance rate. I had no idea about the effects of such factors on the ratings of insurance. Apart from above factors, the insurance of the vehicle should be chosen according to the requirement and also financial dimension. Car needs maintenance at a regular interval in order to ensure smoother performance for longer periods. 3/30/2018 06:26:21 am
Thank you for sharing such an important article which deals with the effects of different factors on the auto insurance rate. So, before choosing a auto insurance a lot of factors including the price of the vehicle needs to be considered. We could ask independent insurance agents to guide us to select the suitable insurance scheme for the vehicle. Apart from this, proper maintenance and preventive driving could be very helpful to extend the lifespan of the vehicle to a greater extent. 4/19/2018 05:21:13 pm
Thanks for the information on how some auto insurance companies consider what job you have as well as if you're a homeowner when giving discounts. Since this is the case, you'd probably want to look at the different factors to see if you meet any qualifications. Once you've done this, you'd probably want to meet with the different companies that offer the type of car insurance you want so that you can talk to them about the different factors and how it would relate to their policies in order to get the best price. 4/20/2018 08:51:52 pm
My husband and I just bought a new car and we are wanting to get new insurance to cover all of our cars. Thank you for pointing out that drivers that have more education pay less for car insurance. I think we are going to have to do some research and find the best company for us that will get us the best coverage possible. 6/29/2018 09:05:33 pm
I don't know why, but I liked it when you said that there are auto insurance companies that offer discounts to homeowners even if the homeowner's insurance wasn't bought from them. That is good to know since I have been a homeowner since I graduated college five years ago. if being a homeowner will truly allow me to have a discount on the car insurance, then I am hoping for the best. Thanks! 7/3/2018 06:45:02 pm
I never knew that there are certain industries that get discounts when buying an automobile insurance. As you mentioned, they usually are the teachers and government employees. I guess this is good news because my daughter is going to be a teacher next year after the results have gone out. Since she is planning to buy a car, I will advise her to wait until she is already licensed so that she can spend less through discounts. Thanks! 7/11/2018 01:30:53 pm
I had no idea that good grades could affect auto insurance so much. It makes sense that they would want to make sure that you are a responsible person. As I continue to look into auto insurance for y new vehicle, I will keep this in mind. 7/12/2018 04:10:24 pm
There are a lot of factors that can effect the cost of auto insurance, so it is important to know which ones directly impact you. For example, not many people would know that your marital status could effect your insurance. After all, you will likely be sharing a car between the two of you, so the insurance company will definitely take that into consideration. 7/26/2018 04:19:07 pm
I appreciate your information on car insurance. We're hoping to get coverage soon that fits, so I'll remember what you said. It'd be great if we could get a discount just for owning a home! We've owned one for a bit, so that's nice. 7/30/2018 09:58:57 am
It's interesting that drivers who have more education pay less. My husband and I have been trying to find different ways to save money on our insurance. Do you save more money if both spouses have an education or is it the same as if only one of us did? 8/6/2018 12:19:27 am
Thanks for helping me understand that we'll be benefited with more savings and discounts when tend to get the same or as a bundle in one company. I am thinking of changing to a new insurance company that is why I am canvassing for quotes. 8/14/2018 11:04:23 am
Thanks for pointing out that your level of education will have a big influence on your insurance rate. My daughter is currently working towards her bachelor's degree, so I'm excited to hear that she will probably get a discount when she finishes her degree. Thanks for the tips about auto insurance rates - I'm excited to pass the good news along to my daughter! 8/15/2018 07:14:13 am
I want to become independent from my father, which means having my own car insurance. Thanks for pointing out that insurers will look at grades to determine your rate. All of these tips will help me find a great insurance company, so thank you for sharing this! 9/24/2018 08:08:44 am
I didn't realize that being married can actually get you lower rates on your car insurance. This is helpful to know since I've been trying to figure out how my wife and I can afford to get a car and insurance in the next month. I'll definitely keep this in mind since it makes things financially more realistic for us. 9/26/2018 08:38:14 am
I never knew that married couples usually pay less for car insurance compared to single people. My wife and I have been thinking of getting a new car, but we don't know how much more insurance we will have to pay. I will be sure to tell my wife that we won't have to worry since we are married! 9/26/2018 05:46:08 pm
I wasn't aware that I could pay less because I received a bachelor's degree or if you're currently in school and get good grades! I think that will be motivation for him to keep his grades up. My son and I are going to research options for his auto insurance and we will keep that in mind. 10/4/2018 05:24:40 pm
That's good to know that an insurance company could raise your rates if your spouse dies since you get a discount as a married company. Luckily my husband and I are healthy but we definitely want to find an insurance company that won't punish us if one of us gets sick. We'll have to talk to different car insurance agents to figure out their policies and find one that'll work for us and not penalize someone for a death. 11/15/2018 06:23:53 am
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