Car insurance premiums are like math problems, change just one of the many factors and the outcome is different.
There are so many factors car insurance companies use to determine car insurance premiums that it is impossible to figure what a premium will be without a computer anymore. Each factor on its own determines if the rate will be higher or lower.
Factors the determine premium include:
- The specific vehicle
- Where the vehicle is located
- Driving record of the drivers
- Credit score (in states that allow it)
- Age of the drivers
- Number of drivers
- Number of vehicles
- Other policies
- Profession of the drivers
- Education level of the drivers
- Gaps in insurance coverage
Some of these factors are not used by every insurance company (education and profession). But even with ruling those out, that there are plenty of different factors that can easily raise or lower your car insurance premium if they change at any time.
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