What factors affect the price of auto insurance?
Age
For people 25 years of age or younger, the value of the insurance usually increases because there is a greater risk of accidents.
Driving history and experience
Insurers view your driving record and experience as an indicator of how safe you drive.
Civil status
Marital status is considered to be correlated with liability and the probability of an accident. Married people are less likely to be involved in accidents.
Address
Your address and zip code are used to determine if your neighborhood is dangerous, known for having a high number of accidents or car thefts, etc.
Annual Mileage and Usage
The more miles you drive, the more likely you are to be in an accident, therefore the more expensive insurance will be. Sigo Seguros does not use mileage as a factor that affects your price.
Credit history
In some states, insurance companies use your credit history to help determine your risk profile. A clean credit history generally reduces the cost of insurance.
Sigo Seguros does not use credit history to determine the price of your car insurance.
Education and profession
Accidents correlate with certain job occupations as well as educational level. Insurers use this information to help determine your risk profile and whether you may qualify for student discount rates. Sigo Seguros does not use education or type of employment to determine the price of your car insurance
Coverage Type
Choosing only the required coverage will lower your insurance quote as you will be at more risk. The more coverage you add, the higher the insurance quote will be.
Deductible amount
An auto insurance deductible is the amount of money you have to pay for repairs before your insurance will cover the rest. Higher deductibles lower your insurance quote, since you'll be paying more out of your own money before coverage kicks in.
Coverage limit
The lower the coverage limit, the cheaper the insurance quote will be, since you will have more risk.
For people 25 years of age or younger, the value of the insurance usually increases because there is a greater risk of accidents.
Driving history and experience
Insurers view your driving record and experience as an indicator of how safe you drive.
Civil status
Marital status is considered to be correlated with liability and the probability of an accident. Married people are less likely to be involved in accidents.
Address
Your address and zip code are used to determine if your neighborhood is dangerous, known for having a high number of accidents or car thefts, etc.
Annual Mileage and Usage
The more miles you drive, the more likely you are to be in an accident, therefore the more expensive insurance will be. Sigo Seguros does not use mileage as a factor that affects your price.
Credit history
In some states, insurance companies use your credit history to help determine your risk profile. A clean credit history generally reduces the cost of insurance.
Sigo Seguros does not use credit history to determine the price of your car insurance.
Education and profession
Accidents correlate with certain job occupations as well as educational level. Insurers use this information to help determine your risk profile and whether you may qualify for student discount rates. Sigo Seguros does not use education or type of employment to determine the price of your car insurance
Coverage Type
Choosing only the required coverage will lower your insurance quote as you will be at more risk. The more coverage you add, the higher the insurance quote will be.
Deductible amount
An auto insurance deductible is the amount of money you have to pay for repairs before your insurance will cover the rest. Higher deductibles lower your insurance quote, since you'll be paying more out of your own money before coverage kicks in.
Coverage limit
The lower the coverage limit, the cheaper the insurance quote will be, since you will have more risk.