4 Major Factors that Impact Your Car Insurance Rate
1. Driving Experience
The more years you’ve been licensed–especially without any tickets or at-fault accidents–the lower your cost of insurance will be.
2. Vehicle Rating
Fast cars have a higher probability of causing a major accident. Expensive cars are expensive to repair. More commonly stolen vehicles are more likely to be targeted by thieves. The “riskier” the car–as defined by the factors above–the more expensive your insurance rates.
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3. Coverage Limits
These should be selected based on your protection needs. A high-net-worth driver will need higher liability limits since they have more assets exposed. It’s better to be slightly over insured then slightly under insured.
4. Location
Each zip code is unique in the eyes of insurance companies. Your insurance cost will be higher if a company has paid out more claims than average in your zip code. Because this factor changes constantly, it’s important to shop again for insurance at every renewal.
To get the lowest insurance rate, it is best to compare rates from several companies.
With Gabi, you can compare rates across 40+ top insurance companies all in one place, for free. We've helped our customers save on average $961/year.

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