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Utah Factors that Affect Insurance Rates

There are many Utah factors that affect insurance rates. If you know what these are and how they apply to you, it can be easier to save money on auto insurance. Make sure you research each factor that may help you save, then talk to your car insurance company about it to make sure they're taking it into account when they calculate your premiums. If they aren't counting it already, you could save money just by mentioning it to them.

Demographic Factors that Affect Insurance Rates

In Utah, many auto insurance companies calculate premium rates based in part on demographic factors. Over the years, these companies have collected data and discovered which demographic groups are least likely to get into car accidents or have tickets and moving violations. If you fall into one of these categories, you will save money on automobile insurance simply because of who you are.

Age is one of the most important demographic factors that will affect your Utah vehicle insurance rates. Younger drivers, specifically those under the age of 25, are the group most likely to get into auto accidents. Most insurance companies attribute this to their relative inexperience as drivers as well as their impetuousness and exuberance behind the wheel. In addition, older drivers are also more likely to have accidents and, thus, will often pay more for their insurance coverage.

Your gender is another demographic factor that can raise or lower your auto insurance premiums. Women are statistically less likely to get into car accidents than men, so they will pay less for their insurance. When you combine this factor with the one above, you can see why young male drivers pay the highest auto insurance rates around.

Whether or not you are married also plays a part in determining your auto insurance rates. Married people, no matter their age or gender, are less likely to get into an auto accident than unmarried people, and thus pay less for their insurance coverage. Usually, this is attributed to a deeper sense of stability and responsibility that married people seem to have.

Where you live will also play a part when your insurance company figures your rates. If you live in a rural area, you are less likely to get into a car accident simply because there are fewer vehicles on the road. In addition, some areas, even in a major metropolitan area, have fewer incidents of vehicle accidents and thefts. If you live in one of these areas, your auto insurance rates will be lower.

Finally, your occupation and hobbies can play a part in figuring out your vehicle insurance rates. People with dangerous jobs or hobbies are statistically more likely to get into auto accidents and, thus, pay more in auto insurance. Generally, auto insurance companies believe that people willing to take regular risks in daily life will be more likely to take risks on the road.

Other Utah Factors that Affect Insurance Rates

Beyond the demographic factors mentioned above, there are other things that can affect how much you pay for your automobile insurance. Some of these are under your control and some art not, but you should be aware of all of them in case there's something that will help you save money.

Your previous claims record is one of the most important factors that will go into determining your auto insurance premiums. The more claims you have made in the past, the more you are likely to make in the future and, therefore, the more likely the insurance company is to have to pay out money on your behalf. If you've made a lot of previous claims, then, you will pay more for your coverage.

Previous tickets and moving violations will also cause you to pay more for your insurance. In general, you will pay higher premiums the more of these you have on your driving record in Utah. Since tickets and moving violations indicate unsafe driving practices, receiving these indicates to an automobile insurance company that you are more likely to be in a car accident.

Factors about your vehicle contribute to how much you pay in auto insurance, too. The make, model and age of your car determine how much it would cost the company to repair or replace it. A car that would cost more to replace will mean higher insurance premiums. In addition, you can save money on your insurance if your vehicle has certain safety features, like anti-lock brakes or airbags, and/or certain anti-theft features, like a LoJack device or certain types of alarms.

Above are the major factors that will influence your auto insurance rates in Utah. Familiarizing yourself with them will help you make lifestyle decisions that will save you money in the long-term.

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