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Car Insurance Factors New York NY

Reader’s Question:

My friend here in New York, says your auto insurance rates are based on the car I drive and how many miles I drive each day, is this true?

Bruce

Buffalo, NY

Your friend is correct, auto insurance premiums or rates are based on many different factors and one of them would be the type, make and model of your vehicle there in New York that you will be placing under your policy. The manufacturer, safety rating, and tag price of the vehicle will have a major influence in the overall computation of your insurance premiums. Expensive, top of the line vehicles and certain car types and models are highly susceptible to car theft and vandalism, increasing your chance of filing a claim in the future. It might be interesting to also note that additional safety and security mechanisms like Automatic Seat belts, dual airbags, Anti-theft Devices etc., can actually help in making your insurance rates lower.

Other factors that may affect your auto insurance premiums include:

1. Age – Teenagers and Elderly Citizens rank the highest, respectively, in getting involved or killed in road accidents among all drivers.
2. Marital Status – Married people are, statistically speaking, less prone to get involved into car accidents than single people.
3. Driving History – Insurance providers can examine driving records up to three to five years back. This gives them a good idea if you are eligible to receive discounts like Good Driver Discounts, or if you will need to be tagged as “High-Risk” with a corresponding higher rate.
4. Insurance Claims History – Similar to your driving record, the insurance provider will also look into how many times you’ve filed a claim and how many were approved. Those who tend to file claims frequently may get higher premiums.

Tags: auto insurance policy