Factors that Affect Your Car Insurance Premiums

When you have to save up twig by twig for years before you get your hands on your dream car, you need to make sure that you’re doing enough to keep it safe and protected. By protected, we mean both physically and financially. Your car is probably the heftiest investments of your life, which is why car insurance is as important as property and life insurance.

According to the Florida Department of Highway Security and Motor Vehicles, around 388,000 car crashes occurred in Florida in the year 2018. For a state which sees more road accidents than others, car insurance is essential.

Let’s look at some factors which may affect your car insurance premiums.

Driving history

Your car insurance company looks at the history of the accidents you’ve been in before giving you a final quote. If you encounter road accidents more frequently compared to other people, you’ll be required to pay a higher premium. In order to reduce this premium, many drivers rely on carpooling and public transport to keep their mileage low. This is because the representative of the company inspects your car’s mileage and the number of tickets you’ve received so far.

You’re also likely to be charged a higher premium if you drive at night. This is because the low visibility can lead to accidents. Be honest with your insurance company about your driving history and habits; the wrong information may lead to your claim being denied.


If your car is new, fancy, and expensive, you’ll be charged a higher premium. The logic behind this is simple. Newer and high performance cars are more expensive to repair in case of physical damage.

Other than that, a lot of cars come with special safety features. These include anti-lock brakes, video-assisted reverse, automatic brakes, and airbags. The presence of these safety features reduces the possibility of you meeting an accident or damaging someone else’s property.  Most insurance companies provide discounts if your vehicle has any of these features installed.

Credit history

When you reach out to a financial institution to get a loan for whatever reason, the first thing they look at is your creditworthiness. This is judged with the help of a FICO score, which is a quantitative method to determine a borrower’s ability to repay a loan.

You’d be surprised to know that even car insurance companies take the same into account before finalizing your premium. These companies assume that if you have a lower credit score, you’ll probably file more insurance claims.

As a result, car owners with weaker credit scores often end up paying far more than those who have a better credit standing. This, however, varies from company to company. Some states don’t allow the use of credit score to decide premiums, while others do.

If you’re looking for cheap car insurance quotes in Bradenton FL, look no further than Manatee Insurance. Our experts carry out an in-depth consultation with the client and then devise the most tailor made coverage package, keeping in mind the client’s uniqueness of need. To get started, contact us now.

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