This article contains information on what are the Car Insurance Cost Affecting Factors. Quadrant Information Services conducted a survey. It is estimated that o average an American citizen spends around $1200 on car insurance plans annually. This average cost varies from state to state. For Michigan citizens, it is around $1800 and Idaho and Ohio states are listed around $900 annually.
Average annual car insurance depends upon a lot of factors. Some of them are changeable and some are unchangeable. Below are mentioned some of those factors which play a vital role in determining the average car insurance cost.
Car Insurance costs depend upon gender as it is a universal assumption that male drivers are riskier than female drivers. So that is why male drivers have to pay more premiums than female drivers.
Age plays a vital role in determining the premiums of your car insurance plans. Because it is assumed that younger driver and older citizens are risky drivers. Younger drivers are considered risky drivers due to their immaturity. Older citizens are considered risky owing to their health problems. So if you belong to either of these groups you are going to pay more premiums.
It is considered worldwide that married drivers are less risky. As married drivers think for their families and do not take risk while driving. So, if you are unmarried you are considered as risky drivers and you have to pay more premiums.
Your car insurance cost largely depends upon your place of living as you are living in a state where there is a high risk of damaging your car from hurricane, storm, rain and other natural disasters, you have to pay more premiums. Similarly, if you are living a state where there is high crime rate you have to pay more premiums.
Sometimes, state bounds its citizens to avail the specific type of insurance plan and it might affect the cost of car insurance plan.
Your nature of job or business can affect the car insurance cost. As if you are driving your car for Taxi purpose of you are UBER driver you will have to pay extra cost to cover your all ends.
Similarly, if you use your car for your office on a daily basis then the distance of your office from your home can affect the total cost of your car insurance plan as well. So You have to pay keen attention to these factors when you are applying for the car insurance plans.