Last Updated on October 29, 2018
Car insurance rates are not randomly chosen instead they are well studied and calculated by your insurance provider using company claim data and your own personal information, including your geographical location, the car you drive, age, and even credit score.
In fact, each and every car insurance company use its own formula for assessing risk and setting rates That’s why the price of a policy can vary from one company to another. Hence, it’s wise to shop and compare insurance companies before you purchase one!
In addition, the types of car insurance policies you purchase and car insurance discounts you qualify for also influence how much money you pay.
Therefore, before you even take the decision to shop for a new policy, click on Next to learn about the main 13 factors that insurers use to set your rate and that may affect your car insurance!