Reader’s Question:

Im 16 years old and I want to know what are the factors that affects my insurance rate so I would know how to lower my premium.

Rizza

Thank you for asking Rizza.

Theres a lot of factors that go into determining your insurance rate. You will provide that information in insurance company form, and they can calculate your rate to tell any 16 year old how much their insurance will cost. There are hundreds of factors that go into a rate. On average, a 16 year old can expect to pay 2.52 times the base rate for their car insurance. Here are the factors that affects your insurance rate

1. Your age
2. Marital Status
3. Gender

Here are some of the factors that you can change to have a lower insurance rate:

1. Accident claims
2. Geography
3. Driving violations
4. Your vehicle
5. Credit rating
6. Occupation

Here are some additional factors that may affect your premiums:

1. driving experience
2. Miles driven per year
3. Distance to work
4. Business use of the vehicle
5. Whether or not you currently have auto insurance
6. Theft protection devices

Hope this information will help you determine how you can lower your insurance rate.

Goodluck!

MariCAR