Learn What Affects Your Auto Insurance Quotes

Ever ask yourself how insurers determine auto insurance quotes? Is it just arbitrary numbers pulled from thin air-or are there real facts behind the numbers which help set auto insurance premiums?

Even though insurers concern themselves with anything that raises the risk of claims, the probability of auto theft plays a substantial role in final premium rates-as does what kind of car you drive.

Only the Facts

Covered within the comprehensive component of an automobile policy, theft coverage pays to fix or replace stolen automobiles plus the often expensive parts they contain.

Lately, a vehicle is stolen within the U.S. approximately every 30 seconds. Though this statistic really represents a downward pattern that has occurred during the past several years, the amount of money per claim per vehicle is growing tremendously.

As Americans search for the most glamorous automobiles with the most recent and finest devices, repairing or replacing those autos-and paying the growing price of bodywork involved-becomes increasingly more difficult. Insurance companies need to pass on that higher risk and elevated expense to consumers through increased auto insurance quotes.

It’s only through sensible action to find the correct car, make them less available to robbers, and assist in the car recovery process that individuals can reduce the chance of theft and lower car insurance rates.

Burglary Aspects

To determine the price of automobile insurance and target potential rate quotes, the majority of insurance companies evaluate the following elements the most.

1. Car price and value. The less costly the car insured, the lower the car insurance policy.
2. Car model and type. Sedans are less expensive to insure when compared with sports cars; basic models are less expensive compared to luxurious models.
3. Geographic locale. Areas with decreased crime rates encounter reduced premiums.
4. Safety precautions undertaken. Securing doors, extracting belongings from automobiles and parking in well-lit places all reduce the probability of theft.
5. Safety components installed. Things like air bags, traction control systems and anti-lock brakes allow for safer automobiles-and operator discount rates.
6. Monitoring systems applied. Global positioning systems (GPS) like OnStar and LoJack utilize a concealed auto transmitter that enables law enforcement to locate stolen automobiles. This improves the chance of recovery and restrains rates.

Selecting the Right Automobile

A lot of today’s most favored vehicles currently have compatible parts, which makes them a standard target for thieves seeking to earn a living.  With some basic modifications, criminals will find and substitute components from one model to another, preying on other individuals’ bad luck and driving ” up ” insurance costs along the way.

To help prevent the risk of theft and maintain lower auto insurance quotes,think about this list of the most commonly stolen cars, from 2008 (the last year that results became readily available). People who drive these types of vehicles ought to anticipate more expensive insurance policies, because of the elevated danger of thievery.

  • Rank #1 – 1995 Honda Civic
  • Rank #2 – 1991 Honda Accord
  • Rank #3 – 1989 Toyota Camry
  • Rank #4 – 1997 Ford F-150 Series Pickup
  • Rank #5 – 1994 Chevrolet C-K 1500 Pickup
  • Rank #6 – 1994 Accura Integra
  • Rank #7 – 2004 Dodge Ram Pickup
  • Rank #8 – 1994 Nissan Sentra
  • Rank #9 – 1988 Toyota Pickup
  • Rank #10 – Toyota Corolla
  • Source: National Insurance Crime Bureau

Say Goodbye to High Premiums

By thinking ahead, making positive changes to reduce the chance of theft, and minimizing the risk to insurers, auto insurance quotes can be kept at bay—and premiums kept affordable.  To get your auto insurance quotes just click the link.

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