According to a recent study by Insure.com owning a car does not necessarily lower your insurance rates. In fact the study found that in some states owning a car can actually increase your insurance rates.
The study looked at insurance rates in all 50 states and Washington D.C. and found that in some states owning a car can increase your insurance rates by as much as 20%. In other states owning a car can actually lower your insurance rates.
So if you’re thinking about buying a car you may want to check with your insurance company first to see how much your rates will go up. And if you’re already a car owner you may want to check to see if there are any discounts you could be eligible for.
How much does car insurance typically cost?
The average cost of car insurance is $1548 per year.
How often do you need to renew your car insurance?
You need to renew your car insurance every 6 months.
How does your credit score affect your car insurance rates?
Your credit score affects your car insurance rates because insurers see people with good credit as less likely to make a claim.
What is the minimum amount of car insurance coverage you can have in the state of California?
The minimum amount of car insurance coverage you can have in the state of California is $15000 per person and $30000 per accident.
What is the maximum amount of car insurance coverage you can have in the state of California?
There is no maximum amount for car insurance coverage in the state of California.
What are the consequences for driving without car insurance in California?
The consequences for driving without car insurance in California are a $100 fine for the first offense and a $200 to $500 fine for subsequent offenses as well as the possible suspension of your driver’s license.
Does owning a car lower insurance rates?
Yes owning a car usually lowers insurance rates because insurers see people who own a car as less likely to file a claim.
Does the type of car you drive affect your insurance rates?
Yes the type of car you drive does affect your insurance rates because some cars are more likely to be stolen or involved in an accident.
Does your driving record affect your insurance rates?
Yes your driving record does affect your insurance rates because insurers see people with a good driving record as less likely to file a claim.
Does where you live affect your insurance rates?
Yes where you live does affect your insurance rates because some areas are more likely to have a higher number of accidents or crime.
Does the amount of time you spend driving affect your insurance rates?
Yes the amount of time you spend driving does affect your insurance rates because the more time you spend on the road the more likely you are to be involved in an accident.
Does the distance you drive affect your insurance rates?
Yes the distance you drive does affect your insurance rates because the more time you spend on the road the more likely you are to be involved in an accident.
Does your occupation affect your insurance rates?
Yes your occupation does affect your insurance rates because some occupations are more likely to be involved in an accident.
Does your gender affect your insurance rates?
Yes your gender does affect your insurance rates because insurers see women as less likely to be involved in an accident.
Does your age affect your insurance rates?
Yes your age does affect your insurance rates because insurers see young drivers as more likely to be involved in an accident.
