Many of us do no realize that some milestones in our life also affect our car insurance rates. Let us look at some of the most important.
A New Job: The start of a new career often impact your auto insurance rates. Remember, every insurance company calculate risks, and some jobs come with a higher risk factor than others. Ask your insurer if they offer discounts to certain categories or job titles. Maybe you fit in one without knowing it.
A new career often means a change in mileage. A significantly shorter commute will most likely cut your premiums.
Parking facilities where you work might also affect your rate. Avoid street parking in cities.
Marriage: If you are a single man under age 25, you might find that your insurance rate will drop dramatically if you get married. Instead of having two policies you now have one, even if you still drive two vehicles together
Of course, the opposite is also true. A divorce will make your costs go up.
A new home: Moving to a smaller, residential area with low traffic and low crime rates will have a positive effect on your insurance rate. Parking facilities are also important.
If you are still considering different options, ask your insurance company if one of the neighborhoods will affect your rate more than another.
If you are moving downtown in a busy city with heavy traffic, you should expect your rates to go up instead of down.
Birthday: Yes, your age matters. Especially when you are around 25 or around 55.
Young and inexperienced drivers always pay a higher premium since they are considered a higher risk. Once you had your license for more than five years and been driving without accidents, ask your company for a discount. Reaching 25 or 26 is another milestone. You should be able to see your rates go down.
Mature drivers around 55 and with a clean driving record are considered a lower risk. They often qualify for discounts. In some cases, taking a defensive driving course will make it even easier to convince the insurance company that you are a safe driver.