5 Unusual Things that Raise Your Car Insurance Rates
Most people know that safe driving, the type of car that they drive and even how often they drive can all affect their insurance rates; these things are all common knowledge. You may be able to save even more on your insurance if you make yourself aware of the other factor that go into determining the price of your policy. Here are five unusual considerations that insurance companies take when it comes to your premiums:
You probably didn’t know that what you do for a living has an effect on your auto insurance rates. There are a variety of occupations that will afford you cheaper prices on your premiums. If you are a teacher, law enforcement officer, librarian or even a banker, you will pay less for your insurance than people in other occupations. This is because, statistically, people in these occupations are less likely to be involved in an accident due to their careful driving habits.
2.Where You Live
Do you live in an area of high-crime or do you live in a rural area where crime rates are low? If you live in a city that is ripe with crime, you can expect to pay more for your auto insurance policy. This is because your insurance company considers you to be more at risk for filing a claim due to car damage or theft. While it doesn’t make sense to purchase a new house so you can save on auto insurance, it does make sense to find out if where you live is affecting your rates.
It’s a bit of a mystery as to why belonging to a professional organization affords you a lower rate on your insurance policy, but suffice it to say that it does. If you belong to a union, a fraternal organization or even work for a certain company, you may be able to receive a discount on your auto insurance. If you belong to one of these organizations, see if your current insurance company offers a discount. If they don’t, shop around and find an insurance company that does.
4.Where You Park
Do you park in the street in front of your house? Do you park in your driveway? If you aren’t parking your car in a garage, you can expect to pay more for your auto insurance. Why? Because your car is less secure if it’s parked in the open air. When you don’t park in a garage, your car is more susceptible to theft or damage; both of which raise your chances for filing a claim in the eyes of your insurance company.
5.Level of Education
There seems to be a correlation between level of education and driving ability, according to some insurance companies. If you’ve earned a degree beyond high school, make sure that you report it to your insurance agent. You can realize an immediate savings on your auto insurance premiums for each level of degree that you earn.
If you haven’t revisited your auto insurance policy for quite a while, its high time that you do. If any of the circumstances listed above pertain to you or a driver in your family, you may be able to lower the cost of your premium by hundreds of dollars.
Deanna Ford writes for insurance blogs where you can read about compare Texas auto Insurance rates.