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A New Article Explains How Insurance Companies Determine Car Insurance Premiums

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A New Article Explains How Insurance Companies Determine Car Insurance Premiums

PR Newswire

LOS ANGELES, Aug. 2, 2018 /PRNewswire-iReach/ -- Insuranceautoquote.info has released a new blog post that explains how insurance companies evaluate clients and determine premiums. Check our website and compare car insurance quotes online!

When determining insurance costs, agencies analyze a multitude of factors. They all provide more info about the risk of insuring a person. A driver who is more likely to file a claim or being late with payments will be labeled high-risk. Clients can check their risk profile and get free quotes from http://insuranceautoquote.info.

The following factors are taken into consideration by insurance companies:

Demographic factors. Gender, age and marital status are factors used by all insurance providers. Teens and senior citizens pay more due to their age. Teens are considered inexperienced, plus they present dangerous behavior while behind wheel. Seniors are also charged extra due to their age-related issues which may impair driving. Married persons are deemed more responsible are also pay less on car insurance. Divorcing will cancel all benefits.

  • Geographic factors. Companies analyze if the client lives in a metropolitan area, with intense traffic or in a rural area. Car theft rates, number of unemployed drivers, the cost of repairing a car and exposure to natural hazards are also analyzed thoroughly. The place where the car is parked overnight is also important.
  • Car's make, model and safety rating. The company will analyze safety statistics, number of accidents, if the driver added some extra safety devices. Plus, the insurance company will check if the vehicle was given proper maintenance.
  • Driving experience and driving history. A clean driving report will increase the chances of getting better prices.  A higher number of years behind the wheel will also positively influence the insurance costs.  On the opposite, a number of traffic violations, even minor ones, will determine the insurer to increase premiums and even place the driver under the high-risk category.

"Insurance companies use numerous factors and data which they apply to their own formulas and algorithms. Determining insurance costs is a pretty complex process" said Russell Rabichev, Marketing Director of Internet Marketing Company.

Insuranceautoquote.info is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

For more information, please visit http://insuranceautoquote.info

Media Contact: Russell Rabichev, Internet Marketing Company, 8183593898, russellr@gmail.com

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SOURCE Insuranceautoquote.info

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