Drivers in North Carolina are required to purchase at least liability insurance. These requirements indicate the coverage equates to a maximum of $30,000 for bodily injury and $60,000 total for the entire accident. It must also provide $25,000 in property damage coverage.
Arriving at the Right Premium
The first and the most obvious factor that attributes to the premiums you pay is your driving record. An assessment of this record is performed to determine the number of traffic violations and evaluate any accident in which you were involved. Violations such as excessive speeding, reckless driving, and DUIs increase your premiums considerably.
Your Daily Commute
Auto Insurance Companies base your rate on the total number of miles you drive to and from work. This mileage equates to the volume of risks you could encounter. With a shorter commute, you’ll pay decreased premiums. The areas in which you travel also have an effect on your premiums.
Age Does Matter
Drivers under the age of twenty-five present the greatest risks in terms of auto accidents. Insurance rates decrease after the driver has reached twenty-five and then again, at age fifty. Seniors between fifty and sixty-five receive the lowest rates.
The Make and Model of Your Vehicle
All sports cars that are black or red incur the highest insurance rates. The value of the automobile also plays a role. Any high-performance automobiles as well as luxury models incur higher costs. The reason for this is the value which is required to repair or replace them.
Assessing Further Factors
According to statistics, women aren’t involved in accidents as frequently as men. For this reason, women pay a reduced rate. Additionally, insurers charge lower premiums for married couples as they present more stability than single individuals. Your credit score does affect the rates you acquire.
When buying auto insurance you should review all the factors that Auto Insurance Companies review. You should also evaluate factors that apply to you more thoroughly. This helps you to estimate the premiums you’re likely to pay and determine if you’re receiving a fair price. If you wish to acquire auto insurance, you should contact the Gilmartin Insurance Agency today.