Chances are you have had auto insurance for years but still may not fully understand what determines the price of your policy. Here are just some of the many things that help determine your auto insurance rates.
- Driving Record. Safe drivers are generally rewarded with lower auto insurance rates or safe driver discounts. To help reduce your rates, pay special attention to basic driving safety such as obeying the speed limit, coming to a complete stop at intersections and other routine driving safety measures.
- Mileage. How much you drive each year can increase your auto insurance rates because it places you more at risk of being involved in an accident. People who drive fewer miles than average are usually eligible for lower rates on their auto insurance.
- Location. Where you live can affect your auto insurance rates because some areas are more inclined to collisions or theft and also have higher costs for car repairs, lawsuits and medical care. Always contact your GEICO representative when relocating to see if it will affect your auto insurance rates.
- Vehicle. The car you are driving also affects your rates. Things like cost of replacement parts and repair, likelihood of theft, and safety ratings of the vehicle can all affect your auto insurance premium.