Factors Impacting Your Auto Insurance Premium

Despite popular belief, you are in control of your auto insurance premiums. Your coverage decisions and lifestyle habits determine your risk factor and how insurance companies decide your premium. Consider these factors when wondering why your insurance premium has just increased:

  • Coverage & Deductibles – The specific coverage options you choose determines your monthly premium price. Also, if you choose a higher deductible, your monthly payment will be lower and likewise if you were to choose the opposite.
  • Your Car – If you just traded in your older car for a new one, expect a bump in your premium. More expensive, newer cars are more expensive to repair and replace.
  • How much and how far you drive – If you are on the road for a long period of time commuting an hour to work each day, you are more vulnerable to accidents. Therefore, your premium will increase.
  • Where you drive – Cities each have their own risk factor. If you’ll be in a town with high rates of vandalism or theft, your premium may increase.
  • Your Driving Record – If you’ve recently been in an accident or received a ticket for a speeding violation, expect a premium increase.

Robert J. Los Insurance Agency is available to help you with all of your insurance needs in Hamburg, New York. Contact us today and speak with one of our highly skilled agents who can help you choose the right amount of coverage for your auto insurance policy.