Automobile Insurance Premiums Depend On Key Factors
Automobile Insurance rates in NJ may vary because several key factors influence them. These
factors make rates differ from person to person and vehicle to vehicle. Bogle Agency Insurance agents have experience in guiding car owners to make intelligent decisions regarding coverage and possibly save them money. Below we have outlined some key factors that influence your automobile insurance premiums.
Driving Record
Your driving record is one of the primary factors affecting your car insurance rates. Insurance companies consider your history of accidents, tickets and traffic violations. A clean record with none of these would result in lower NJ automobile insurance premiums because it means you are a responsible driver.
Type of Car
The type of vehicle you drive plays a role in determining your car insurance rates. Insurance companies take into consideration things like the make, model, year and safety features of your car. If a car has excellent safety ratings and security features it may qualify for discounts. A luxury automobile or high-performance car may have a higher premium due to higher repair costs.
Your Age And Gender
Younger, less experienced male drivers may face higher premiums due to higher perceived risk. Statistics show that young male drivers tend to have more accidents than young female drivers.
Where You Live
Your residential location may affect your automobile insurance rates. Urban areas with higher traffic concentration and a higher likelihood of accidents can result in higher premiums compared to rural, less congested areas. Additionally, in cities, where there may be a higher car theft possibility, this can also result in higher premiums.
The Deductible
The deductible is the amount you pay before your insurance coverage begins after an accident. A higher deductible generally means lower premiums but it also means higher initial cost after an accident, so it isn’t necessarily a money-saving idea.
Yearly Mileage
If you drive a lot during the course of a year, it can affect your automobile insurance premiums. Insurance companies consider the amount of time you spend on the road as it relates to your risk of having an accident. Drivers with lower yearly mileage may qualify for lower premiums since they have less potential for accidents.
Get Help From A Professional
Automobile Insurance rates can vary between insurance companies. An independent insurance agency like Bogle Agency Insurance can shop around and compare quotes from several insurance providers to discover the best policy for your unique needs. Our expertise ensures that we will find the most competitive rates and the best coverage to protect you. If you are in the market for Automobile Insurance, give us a call at (201) 939-1076 and allow us to guide you through the process.