What factors affect my insurance premium?

Insurance premiums are influenced by a variety of factors, and understanding these can help individuals make informed decisions when it comes to their coverage. One of the primary factors is the type of coverage selected. For instance, comprehensive coverage will typically have a higher premium compared to basic liability coverage because it offers more extensive protection. Another significant factor is the individual's driving record. A history of accidents or traffic violations can lead to higher premiums, as insurance companies consider these drivers to be higher risk. Conversely, a clean driving record may result in lower premiums. Additionally, the age and experience of the driver can impact premium rates. Younger, less experienced drivers generally face higher premiums due to their higher likelihood of accidents. The make and model of the vehicle being insured also plays a crucial role. Cars that are more expensive to repair or replace often have higher premiums. Moreover, certain vehicles known for safety ratings may lead to lower premiums as they are perceived as a lower risk. Location is another factor that cannot be overlooked. Drivers in urban areas may pay more due to higher rates of accidents and theft, while rural areas may see lower premiums. Finally, credit history can also be a determinant in the premium amount, as a better credit score may result in lower rates. It is advisable to review these factors periodically, as they can change over time, affecting the overall premium significantly. For more specific inquiries or assistance, individuals may want to explore the official Infinity Property & Casualty Insurance website for further information.