Why Is My Car Insurance So High?

Wondering to yourself “Why is my car insurance so high?" Then you’ve come to the right place to find out more about your monthly car insurance rates!

What Makes Car Insurance So High?

There are a lot of things that can determine your monthly premium. However, everything does come together to create a list of ways insurance companies calculate your insurance premiums. They don’t necessarily consider things like if you’ve got your windows tinted, or

insurance factors

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Here are the things that go into calculating your monthly payments:

Where You Live

Where you live has a big impact on your car insurance. There are states where there are more accidents, where there are larger elderly populations, as well as states where you may not have to drive your car all that often! Not to mention state regulations and insurance fees!

The Type of Car You Drive. 

The type of car you drive means that insurance companies take into account the likelihood of you being pulled over, your car breaking down, as well as many other factors that come with different brands of cars!

Your Driving Record

If you’ve been in a lot of accidents, or have had many violations, that all factors into why you may be wondering “Why is my car insurance so high?!”

Driving Patterns

Do you drive long distances every day, or are you only taking your car out every other week? This increases, as well as decreases the likelihood you will be in an accident. And insurance companies take that into account.

Credit History

Yes, your credit history can change your rates. Sometimes your credit history goes into whether or not you get a low monthly premium. Insurance companies want their money, and they can’t risk having a flaky insurer.

Gender, Marital Status, as well as Age

It may seem odd, but there are many studies that have been done about gender, as well as age influencing your driving. It may seem unfair, but the science is there. However, the marital status is just to make sure you alone are responsible for the insurance bill, or you also have a spouse that can help with you monthly payments.

The Type of Policy You Choose

There are a lot of different policies out there. However, not all of them have the same premium rates! If you want the best you pay for the best. Not to mention if you want basic coverage, you pay for basic coverage.

All in all, these are the basic factors that insurance companies consider when putting together your basic insurance costs.

How Can You Lower Your Car Insurance?

There are opportunities for you to lower your car insurance premium, as well as decrease your fees! All things considered, the better care you take of your driving, of your car, as well as of your budget, the better your rates may be!

this is why is my car insurance so high

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You can try to look for discounts! Whether you have installed new tech to help the performance of your vehicle, as well as discounts for veterans and so much more! Keep in mind that these discounts may not be permanent. You can also find discounts for things like:

  • Safe driving
  • The types of brakes you have
  • Packaging car insurance with home, boat, or motorcycle insurance
  • Low mileage
  • Good credit score

Overall, you should also try to shop around before you purchase your car insurance. Compare prices, as well as compare the overall reviews for each company. That way you get the best price for your car insurance based on your personal needs.

Why is My Car Insurance So High, SOLVED!

Now that you know the many, MANY different things that go into calculating your monthly payments, you can start to take steps towards lowering your car insurance bill. You can even try changing from an automatic to a manual transmission to see if that helps your premium rates! Whether you try to find discounts for the type of car, or get a better credit score, it’s up to you to make the change.

FAQ

Does Credit Score Affect Car Insurance?

Yes, your credit score affects your car insurance. If you’re thinking “Why is my car insurance so HIGH?” It may be because you are a higher risk factor to maintain payments.

Will My Premium Go Up if I am Not at Fault in a Car Accident?

One accident may not cause you car insurance to go up. But if you are in several “No Fault” accidents, it may make a difference. 

Can Your Car Insurance Go Up for No Reason?

Typically, you car insurance won’t go up for no reason. But if you’re seeing a change on your bill, be certain to check with your insurance carrier for errors or policy changes. 

Does Owning a House Affect Car Insurance?

Yes. Because you can get a discount for bundling your car and home insurance. Not to mention it effects your credit score as well!

Does a No Fault Accident Go On Your Record?

A “No Fault” accident, as well as some types of tickets, will generally stay on your record for three years. However, this may be different in various locations.

Will My Premium Go Up if I am Not at Fault?

Yes. No matter who is at fault, making a claim with your insurance can possibly change the price you pay for your premium.

Why is Progressive Insurance So Cheap?

Progressive has great rates for good drivers. All in all, their business model supports good driving habits and no accidents!

Hanna Embry
 

As a freelance writer, I have been creating content and writing blogs for over seven years! Not only do I love writing about cars, but I also have experience in many other fields. I have been a guest writer on many popular blogs, as well as ghostwritten novels. When I’m not writing, you can find me with my family, reading a book, or working on an art project!