When it is time to register your car or renew your car insurance policy, many people do some price comparison shopping in an effort to find the best premiums. In today’s economic climate, understanding the factors that are used to rate you when you request a New York car insurance quote, will help to give you the upper hand in choosing the best company for your money. Most people think that their car insurance quote is only determined by their driving record, but this is not the case. Insurance companies use other factors to determine the amount of risk you create for them regarding how many claims you may submit. Other factors that you might consider sharing with family and friends include:
Years of Driving
Contrary to popular belief, the current age of the driver is not the first thing that is considered when determining an insurance rate. Car insurance companies instead look at the age that the driver received their license and the number of years that the person has been driving. Statistics show that the more years of experience a person has behind the wheel, the better driver they will be. Drivers that have a minimum of 9 years of experience will likely have some of the best rates quoted to them.
Make, Model and Year of Automobile
Information about the vehicle that you want insurance on will also play an important role in determining the rate you will pay for insurance. The insurance company will look at the vehicle you are driving and will consider things such as repair costs, how often your make and model of vehicle is in accidents, and how much damage the particular vehicle causes as a rule. The vehicle will be assigned a symbol based on these factors and that symbol will then be used as a factor in your new york car insurance quote.
Mileage and Use
Another statistic that insurance companies look at is the one that shows that drivers that go back and forth to work daily have a higher accident rate than those that drive for pleasure. The amplified stress and traffic are the likely causes. How far a driver travels annually will be another determining factor in obtaining New York car insurance quote because the fewer miles you drive the less of a chance you have to be in an accident.
These three factors are used when being rated for a New York car insurance quote and many people might not realize it. Being armed with this information and understanding how the insurance company rates you when determining a quote for you, will help you to fully comprehend how you can be paying a much different rate then your family and friends.
