Why is my auto insurance so expensive?
As a driver, you understand that there are certain personal factors that affect the cost of your auto insurance in Astoria, New York. However, if you have a good driving record, drive a low-risk vehicle, and exhibit responsible car-ownership behaviors, then you might not understand why your insurance is so expensive. To help you get to the bottom of things, here are three of the surprising factors that can increase your auto insurance rates.
1) Your Relationship Status
If you think that it is only your mother who gives you a hard time about ‘settling down,’ then you might be surprised to know that your marital status is something that your auto insurer actually takes into account as well. Because married drivers get into fewer accidents than single drivers, married motorists are considered less risky to insure. This reduced risk translates into cheaper auto insurance premiums. Unfortunately, if you are still listed as ‘single’ on your auto policy, then you should expect your rates to be on the higher side.
2) Your Location
If you live in a traffic-heavy city, then it makes sense that you would pay more for your auto insurance than a driver who lives in a rural area. With more people and cars surrounding you, you are simply at a higher risk for getting into an accident. However, when you live in a bustling urban area, you also have an increased risk for your car sustaining damage from vandalism or being stolen altogether. So, the high risk of living in the city will translate into a higher insurance premium for you.
3) Your Credit History
Almost every state, (aside from California, Hawaii, and Massachusetts) allows auto insurers to increase the rates of drivers with a poor credit history. The reasoning behind these higher premiums is that having bad credit indicates that you live a high-risk lifestyle. As always, increased risk translates into higher insurance rates.
These are three of the unexpected factors that drive up the cost of your auto insurance in Astoria, New York. Do you have additional questions regarding your car coverage? Then don’t hesitate to contact the team at 01 Insurance. Our expert agents are ready to assist you with all your personal coverage needs today.