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What Are The Factors That Affect Car Insurance Quotes?

If you’ve ever wondered why one of the first questions asked is your birthdate when calling for an insurance quote, you’re not alone. Your age is an essential factor when creating car insurance quotes for drivers. Insurance companies factor in the driver’s age plus a few other key elements before quoting Illinois drivers a car insurance cost. In today’s article, Stanton Insurance wants drivers to understand what factors, including age, can affect their car insurance quotes.

Illinois Law Says Drivers Must Carry Car Insurance

In Illinois, the law requires drivers to carry liability insurance coverage on their automobiles. If you are curious as to why you have to carry car insurance, just think about all the possible costs involved in an accident. Hospital costs, car replacement costs, personal injury, and more can add up quickly. If you’re in an accident, the insurance you are required to carry can help cover these expenses.

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KEY TAKEAWAYS:

Several important factors influence the price of a driver’s car insurance quote.

  1. It is important to remember that drivers in Illinois are required to carry car insurance.
  2. Insurance companies collect data on different factors and then use these factors to determine information like how likely you are to get into a car accident.
  3. These different factors can include facts like your age, gender, make and model of your car, and where you live.

How Do Insurance Companies Determine My Quote?

When seeking a quote for car insurance, drivers often wonder why they are asked about their age, the make and model of the car, and their gender. Data collected by insurance agencies reveals that some drivers, cars, or locations are statistically more likely to have accidents. Men drivers, for example, are more likely to have a traffic violation. The same is true for young drivers and drivers in urban areas. If you are a young, responsible driver, this data may frustrate you. Nonetheless, it is important to understand that your insurance quote is based on the data available to the insurance agent. 

What Factors Affect My Insurance Quote?

In addition to age and gender, other factors can affect car insurance rates for Illinois drivers. The amount of coverage and deductible directly impact your insurance costs, called premiums. However, your coverage limits and deductible are your choices. Drivers can lower their premiums if they increase their deductible. Or drivers can choose to lower their coverage to receive a lower premium. Age, gender, coverage levels … it can seem overwhelming to understand, but your insurance agent will be able to guide you through the process. Keep in mind that you want to make sure you have enough liability coverage to cover your assets. If not you could be the one paying, not your insurance company. 

 Many factors contribute to car insurance quotes, some of which are outside of the driver’s influence. While understanding insurance rates can be frustrating, Stanton Insurance is available to help all drivers, young and experienced, find a quote that provides the right amount of coverage. Stanton Insurance is licensed in Illinois and Iowa, and has contracts with several major insurance companies, so drivers can get the best quote available. Don’t drive unaware! Get familiar with your car insurance and drive confidently! Call Stanton Insurance at (309) 734- 2171 or make an appointment online at www.stantoninsurance.com.