Is there such a thing as really cheap car insurance? I dont know how that happens unless you have a really cheap car that you hardly ever drive and nobody in your geographical area has had an accident in the last 20 years. That would drive the rates down significantly. The reality of that all occurring is somewhere between very slim and none. Car insurance is given its rates by insurance actuaries. They review claims experience in certain geographical areas along with driver age groups to obtain some of their criteria for determining rates. The kind of vehicle that you purchase has a lot to do with rates. Some vehicles have a very high theft rate. Its just not that simple to come up with a low rate with all of these unknown factors. The logical approach to finding low cost insurance is to gather insurance quotes from several companies and from that you may be able to find the lowest comparative rate.

Rating Factors

1. Geographical Area You have no control over the driving experience in your own back yard. That still doesnt negate the fact that your neighbors can affect your rates. The higher frequency of accidents in your area will increase the rates. The severity of accidents will also affect your rate. You will often find higher frequency fender bender accidents in the inner city while the rural areas may have more severe accidents because of higher speeds traveled on the open highways.

2. Vehicle Types Older vehicles with physical damage are obviously cheaper. Sports cars and expensive sport utility vehicles will increase the rate.

3. Young Driver Discounts Some companies have discounts for good students with a 3.0 grade point average along with a drivers training discount. When you put the two together it can be significant.

4. Retired Discounts and Mature Driver Some companies have retirement discounts and mature driver discounts to lower the rates for senior citizens.

These are just some of the many possibilities. Ask about available discounts when shopping for car insurance. Consider the area in which you live and adjust with the types of vehicles you purchase and how you arrange your coverage. Educate yourself more than you have before and you will help your cause.

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The first factor would be the area in which you reside. Insurers look at your neighbouring area. If your area has many accidents it will affect and increase your premium rate. Most of the time, you will find more fender benders in inner city area. In rural areas you might find more severe accidents. The reason for this would be because of the higher speeds on the open highway.

The second factor would be the type of car you own. If you have an older vehicle with some damage your insurance will obviously be cheaper. Owning an expensive sports car will surely increase your insurance rate.

The third factor would be young driver discounts. Some companies offer discounts for good students with a 3.0 grade point average as well as drivers training discount. If you put the two together the discount can be quite significant.

The fourth would have to be matured driver and retired discounts. Some companies can offer retirement discounts and mature driver discounts to lower the rates for senior citizens.

These were just a few things that can contribute to your insurance rate. Be sure to ask about any discounts when shopping for your car insurance. Think about where you live, your vehicle and how you arrange your coverage. If you do a little more research and educate yourself it will help you get the insurance that is right for you, and an insurance that will save you more money. So go out inform yourself and save money on your car insurance!

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