Questions & Feedback
What Affects Car Insurance Rates?
Auto insurance rates may seem like a mystery, but there are real, measurable factors that affect them. For instance, insurance companies consider educators to be safer drivers, so you get discounts just for being you.
The 5 Factors That Affect Car Insurance Rates
- Your Driving History. As you might have guessed, safe drivers pay less for car insurance than their accident-prone counterparts. Insurers pay close attention to their customers’ driving records. An extensive history of claims, speeding tickets and other infractions can all lead to higher insurance rates.
- Your Car’s Make and Model. Some cars are more expensive to insure than others. For example, a sports car costs more than a minivan. New cars, and cars with higher purchase prices, also cost more to insure. This has to do with the cost of vehicle repair should a claim occur. In addition, safety features and safety ratings for particular vehicles are also a factor.
- Your Location. Since cities tend to have higher rates of theft, vandalism and accidents, drivers in urban areas pay higher insurance rates.
- Your Policy and Deductibles. Of course, the specifics of your policy and the deductible level play a big role in determining your car insurance rates. In general, a higher deductible means a lower monthly payment. However, it’s important that you choose a policy that’s right for you and your vehicle, taking more than cost into consideration.
- Your Discounts. There are several ways Meemic Members can save money through special insurance discounts. For example, there’s a discount for bundling other policies, such as homeowners or renters insurance, with an auto policy. There’s also a discount for paying your auto policy in full instead of monthly installments. New teachers and good students get discounts, too. Just ask your agent.
Get a Quote for Auto Insurance Today
With Meemic, you’ll get high-quality auto insurance at an affordable price. How affordable? Just give us a little bit of information about yourself, and we’ll get you a quote in no time at all.
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Benefits to Educators: Other Insurance Products
Meemic was founded by teachers to offer great auto insurance to members of the educational community — but we offer more than just auto insurance. As an educator, insurance from Meemic can also help cover your home, condo, the belongings in your apartment and more.