Factors That Can Send Your Car Insurance Premiums Skyrocketing. Everyone would like a lower premium on their car insurance, and you are no different! You’ve done your shopping and comparing, and have made your best choice. Now, though, you’d like to be able to keep those prices low! What factors can send your car insurance premiums skyrocketing?
An Accident That Was Your Fault
If you have an accident because someone else rear-ended you, or because a deer jumped into your car, those are things you had no influence over, and therefore won’t affect your premiums much. However, according to Reviews.com, if you have a car accident that you, or someone you insure, have caused, this changes things. This is one reason why it’s important to practice safe driving skills, including not drive drowsy, not text and drive or make phone calls when driving. Accidents that are not your direct fault will still increase your insurance cost, but not as severely.
A DUI Conviction
A dui conviction is one of the Factors That Can Send Your Car Insurance Premiums Skyrocketing. If you get a DUI conviction, you immediately become a much higher risk for any insurance company. Alongside the points on your driver’s license, your insurer now knows that when under the influence of alcohol, or other substances, you are likely to continue attempting to drive. According to Rogers Beltran, a DUI can result in a suspended driver’s license as well. As driving under the influence of alcohol or drugs is exceptionally dangerous and can cause death not just to yourself and your passengers, but to innocent bystanders and other drivers, this is necessary for the safety of society. Just don’t do it.
Demographics Matter
It seems especially frustrating, but your age, sex, and even your car type can increase your premiums. Many hybrid cars are given slightly higher premiums. According to Money Crashers, if you are a young white man (or are insuring a child who is one) statistically you are more expensive to insure, and therefore any of their accidents or mistakes can cause severe jumps in cost. Where and when you drive, including how often you drive and how far, can also increase costs. Even the size of your engine to body ratio can increase your costs, as those cars with larger engines have statistically had owners who like to go fast!
Multiple factors can increase your rates, but don’t despair! Avoiding driving under the influence of drugs or alcohol can diminish that considerably. Practice safe driving skills, and pay attention to keep those costs low! We hope you found our tips useful on Factors That Can Send Your Car Insurance Premiums Skyrocketing.
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