Factors affecting car insurance premiums

Posted Thursday, Oct 31, 2013 by nhtwpprod

Many car buyers that visit our Toyota dealership in Los Angeles know little about the factors that affect their car insurance premiums. Even those people who realize that the more valuable their vehicle is, the more their insurance premiums will be, don’t know that other factors also play a big role. A problem for many car buyers comes from learning after they make their purchase that their insurance will be much more than they realized. Without adequate research before the purchase, the choice you make in a new vehicle may not be as affordable as you previously believed.

Age plays an important role in the amount of your insurance premiums, regardless of the price you pay for a car. Teens and seniors are the ones who are most likely to be involved in accidents and, as a result, their premiums are typically higher. In some cases, taking a safety driving course can get reductions on premiums, especially those insurance companies that participate in special programs for seniors. If you have a new driver in the family, especially if it is a male, talk to your insurance company to find out what options are available and how much you can expect insurance rates to be. Depending on your state, your teen may be required to be listed as a driver on your highest-priced vehicle, and you may have to have full coverage, even on a used vehicle.

Previous traffic tickets, living in an urban area, previous claims, the type of job you have, marital status, gender, and the area where you live are just some of the factors that can affect your insurance rates, driving premiums higher. There are also some steps you can take to reduce premiums, such as agreeing to a larger deductible. You should also know that you are required to have insurance on any car that you have financed and owe a balance on.

A good way to prevent having surprises with your car insurance after you purchase a vehicle is to look at the choices in Toyota cars online to determine which vehicles you are most interested in. Call your insurance company and talk to them about expected changes to your premiums for any of those cars on your list. Know what will fit into your plans before you visit the dealership, and make the choice between new and used Toyota cars in Los Angeles.