Professional Services News / Freedom Insurance Group, Inc.

Freedom Insurance Group, Inc. Offers an Inside Look at the Determining Factors of Car Insurance Premiums

Via: ReleaseWire

Updated 10:18 AM CST, Wed, February 05,2020

Philadelphia, PA -- (SBWIRE) -- 02/05/2020 -- No matter what kind of driver is behind the wheel, car insurance rates in PA and across the nation have a tendency of rising from year to year, prompting individuals to look for new ways to save on car insurance. Freedom Insurance Group, Inc. would like to offer an inside look at the determining factors of car insurance premiums so drivers can understand the reasoning behind their rate and how they can improve upon it.

An individual's driving record and claims history have the most impact on their car insurance premium. Driving violations, such as speeding tickets, reckless driving tickets, and DUIs, are considered red flags by agents because past driving habits usually indicate future driving patterns. Those with poor driving records are more likely to file frequent and expensive claims, and insurance companies have to mitigate the risk by offering higher premiums. Similarly, any claims associated with the driver, whether they're at-fault or not, will alarm insurance agents. An equally important determining factor is driving history. Drivers who have experience navigating the roads are more likely to get into accidents, so they enjoy lower insurance rates. However, these years of experience have to be documented in their insurance history, otherwise, the agent will assume these individuals were driving uninsured.

A person's demographic and background also affects their insurance rate. Age is by far the most significant factor, as this directly correlates with driving experience. Young drivers between the ages of 16-25 are considered very risky on the road, as they're still learning safe driving practices every day. The older one gets, the lower the insurance rate drops. Alongside age is gender. Young female drivers tend to show more concern for safe driving practices than male drivers, so they enjoy lower premiums.

Finally, the vehicle that is being insured will also impact the quote. New vehicles, expensive brands, and leased/financed cars will cost more to insure because they usually cost more to repair as well. These cars benefit the most from comprehensive car insurance, which is costlier, but offers more benefits than collision. On the other hand, older cars that are 100 percent owned by the driver will cost significantly less to insure, and may not need comprehensive insurance at all.

To learn more about how car insurance quotes are determined in Philadelphia, PA, contact a Freedom Insurance Group, Inc. agent today.

About Freedom Insurance Group, Inc.
Freedom Insurance Group, Inc. was established in 2003 by Anita Allegezza as an independent agency. Their focus is on property and casualty insurance, aspiring to be the only agent their customers need. They pride themselves on customer service, and are confident in their ability to give them the personalized protection they need. Being a Trusted Choice Agency allows Freedom Insurance Group, Inc. to tailor their insurance policies from competitive rates and give their customers complete coverage for all stages of their lives.

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