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August 16th, 2023
Most of us have found ourselves shopping around or researching to get the best rate for our auto insurance. During the process, many people can become frustrated with the high insurance premium quotes they are given. We all want the best rate, but unfortunately there are factors that affect your insurance rates. I often talk with potential clients who are upset with quoted auto insurance rates or with rates that have been increased. However, many do not realize that auto insurance companies look at various factors when quoting auto insurance rates and when increasing existing customer’s rates. This can be frustrating, but unfortunately insurance companies use these all the time, so it’s important to know them.
Having the right auto insurance is very important for you and your family, as well as others who may be injured by your negligence, so remember to balance this consideration while also trying to get the best rate. The following are some of the factors that insurance companies consider when quoting automobile insurance rates and when increasing rates:
This is certainly not an exhaustive list, but hopefully this will give you a better understanding as to how an auto insurance company quotes you a rate or why they may have increased your rate.
