There are a lot of insurance providers to choose from in the Green Bay area, and every one of them will likely give you a completely different rate. You might get two rates that are only a few dollars off, or you might go to one insurer and get charged one and a half, or even twice as much as you are at another insurer. They all have to assess risk when covering you, and the way they make that judgment will vary wildly between providers. But some factors are pretty much the same from insurer to insurer. Here’s what we mean:
How They Decide
- Age. Teens and twenty-somethings tend to pay a bit more for insurance even with all other factors being equal. There’s not much we can do about this except keep getting older. Some insurers will offer a discount for good grades for students, but young drivers are still going to wind up paying more for insurance more often than not.
- Gender. Women pay less because they are statistically less likely to get into accidents. You may be the safest male driver in the world. Maybe you never do the kind of things that insurers think guys do in their cars. But insurance providers have to look at statistics and probability when evaluating risk.
- Marital status. If you’re married, you are statistically less likely to get into a serious accident. We wouldn’t recommend getting married just to save on your insurance, but don’t be surprised to see your rates drop after getting settling down.
- The size of your car. Believe it or not, this can be a big factor. You feel safer in a big truck or SUV; you are more shielded in the event of an accident. But you can also do a lot more damage to your car. So big cars tend to be penalized because of the greater liability concerns that they come with.
- Where you live. If you live somewhere with a high rate of car thefts and break-ins, expect to pay a little more on your insurance. Again, it’s all about statistical probability.
- What your car costs. The more expensive your car, the more expensive it will be to repair or replace should the insurance provider have to cut you a check. So of course, the cost of insurance will reflect the cost of the car.
- When your car was made. This ties into car cost. Newer cars tend to be more expensive, and therefore more expensive to insure.
Safety features can be a major factor, of course, and so can your driving history. But the above-listed factors tend to be universal from one provider to another. Your rates might vary wildly from one insurer to the next, but if you feel good about your chances after reading that list, then chances are you’re going to get a pretty good deal on your insurance. Providers need to assess risk and cost, and these factors are a big part of how they make those assessments.