3 Factors Affecting Car Insurance Rates That You Might Be Unaware Of

There are many factors taken into consideration when insurance companies calculate auto insurance quotes. Your driving record, age, and gender are three common ones, but there are others you might not be aware of. Here are three of the factors you might not know about, along with information for how each factor may affect your rates.

Commute time

The amount of time you spend behind the wheel can affect your car insurance rates. Insurance companies view this as a factor because a person is more likely to get in an accident if he or she spends a lot of time driving. The company may ask you how many miles you travel per year to find out what category of risk to place you in.

If you drive only for pleasure, you will probably spend a lot less time behind the wheel than a person that travels an hour back and forth to work each day. The less you drive, the lower risk you are to the company.

Marital status

The insurance company might also ask you what your marital status is, and you may wonder why this matters. According to statistics, married drivers have a lower chance of getting into accidents while driving when compared to single people. Married people tend to be more responsible and careful when driving, which is why they have fewer accidents. Because of this, you are likely to pay a higher rate if you are single.

Lapse in coverage

Finally, if you have not always had insurance coverage consistently over your driving career, it could affect your rates. Any lapse in car insurance coverage can make a difference in rates, but the biggest difference may come if your lapse lasted for two years or longer.

If you had a lapse in coverage, you may end up paying more for your insurance. This occurs because insurance companies often question why a person had a lapse. This lapse in coverage also plays a role in a person's experience driving, and it offers no record of the person's driving history for this particular period in time.

Insurance companies put a lot of thought and effort into car insurance rates, and they use a variety of different factors for each quote they calculate. If you would like to learn more about this topic and how it applies to you or if you want to request a quote for insurance, contact an insurance company that offers car insurance.