Some of the factors that you can least control might have the most affect on your insurance premiums. Your age, gender, credit score, and driving record are the primary elements that affect your rates.
A single males under the age of 25 will pay a highest rate than anyone else. Statistics show they are involved in the more accidents than any other group, so insurance companies charge younger men higher premiums than women of the same age. Married men, tend to have fewer accidents, therefore they pay less for their rates than single men do. Some states don't allow rate increases based on sex or age, but this prohibition has resulted in higher rates for women and done nothing to lower rates for men.
If you are convicted of a moving violations or found to be at fault in an accident, your premiums will likely go up, no matter what your age. Drivers with clean records, no tickets or accidents will pay the lowest rates.
Where you live can also determine a lot about how much you might pay. Urban areas, which have the greatest population density and heavy traffic, get higher rates than rural areas. According to the Insurance Information Institute, the average insurance expenditure in mainly urban New Jersey, this is traditionally the most expensive state. In 2002 it was more than double that of North Dakota, which is a rural state and has the lowest average premiums of anywhere else in the United State. There are higher costs in states such as Florida, Massachusetts, and New York which are attributed to growth, theft, and insurance fraud.
In most states insurance rates are determined by zip code. If you live in a major city like Atlanta or Miami, you will probably pay more than if you lived in outside of these areas.
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