Last Updated on May 18, 2021
Car insurance rates are not randomly chosen instead they have factors affecting them that 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!
