Insurance providers factor in many things when coming up with a premium for certain types of vehicle coverage. You may think that you already know what factors go into your auto insurance premium, but we are going to go over what actually goes into the process in the state of Maryland.
Factors To Help Determine Your Auto Insurance Premium
- Previous Insurance
- A lot of you may not know this, but your previous insurance provider will report if you happen to drop your coverage for any reason. So, when you are acquiring a new quote for auto insurance, they will look for any lapse in coverage before offering you a quote. If you do have a lapse in coverage, chances are, your premium will be much higher than average, or they may not even offer you coverage.
- Driving Record
- Of course, insurance companies are going to look at your driving record before deciding how much your premium be. Of course, your premium will be lower if you have little to zero accidents as well as points on your license. Points are acquired on your license for various moving violations while driving.
- Credit Score
- The insurance companies use a scoring system that will use your credit score as part of the scoring system to help determine how likely you are to have an accident or file a claim. The better your credit score, then the more likely your insurance premium will be.
Get A Quote
If you would like to learn more about the factors that go into determining your rate for auto insurance, or just looking for new auto insurance, contact Roadway Auto Insurance today to get a free quote with no obligation.