Drivers in Natick, Massachusetts don’t all pay the same auto insurance rates largely because insurers take into account different factors when calculating premiums. While there are lots of factors that insurers consider, here are three that have an especially big impact on drivers’ premiums.
Some Drivers in Natick, MA Pay More Than Others for Auto Insurance Because of These 3 Reasons
1. The Insured Vehicle’s Year, Make and Model
The year, make and model of a vehicle can impact insurance premiums in two ways.
First, newer and fancier vehicles tend to have higher comprehensive and collision rates than more affordable models do. Comprehensive and collision coverage are the two kinds of coverage that provide protection for a car itself, reimbursing the policyholder if the vehicle is damaged in a covered claim. Since a more expensive vehicle stands to lose more value from damage, insurers charge more to protect nicer vehicles with comprehensive and collision coverage.
Second, many insurers offer discounts on certain vehicles that are deemed to be more safe than average, and some may charge more to insure vehicles that have below-average safety ratings. A car that has a low safety rating can leave its occupants more susceptible to injury if they’re in an accident. Since medical bills from injuries account for some of the largest auto insurance claims, insurers are usually willing to offer a discount to drivers with safer models.
Often, the newest luxury vehicles available are also the safest, as they’re the most likely to feature the latest technological and safety advancements. Drivers who own these vehicles usually can’t completely offset the higher comprehensive and collision rates they pay, but they may be able to slightly reduce their total premium by looking for an insurance company that offers discounts for the safety features their vehicle has.
2. The Location the Vehicle is Kept
Where a vehicle is kept when it’s not being driven also has a dual impact on premiums. Insurers often award vehicles that are parked in safe neighborhoods with lower premiums than those that are kept in more dangerous parts of town, because vandalism and theft are less common in safe areas. Additionally, vehicles that are kept in rural areas tend to be assessed lower premiums than those in cities, because accident rates are usually lower in rural areas. For example, a driver on the outskirts of Natick may pay less than a driver with an identical car who lives in the town center.
3. The Age, Gender and Marital Status of the Policyholder
One of the biggest factors is something that policyholders have no control over. Their age, gender, and marital status can greatly affect the premiums they pay, because each of these has been shown to be an accurate indicator of the likelihood of an accident. Young drivers tend to pay more than older ones, single drivers usually pay more than married ones, and men typically pay more than women. Young, single men, thus often have the highest rates, and elderly, married women usually have the lowest rates.
Find the Lowest Rates with an Auto Insurance Agent in Natick, MA
Even though you can’t control some of the factors that affect your auto insurance premiums, you can still reduce how much of an impact certain factors have. Every insurance company considers these three factors differently. By getting multiple quotes from an insurance agent serving Natick, you can figure out which insurer will give you the best value regardless of what factors are working for or against you.