The rating factors that pertain to you determine your personalized car insurance rate. Most insurance companies use common factors like credit score and age, but the weight they assign to each detail may vary. For example, one insurer might give more weight to your driving and claims history, while another might place greater emphasis on your credit score.
It’s also normal for your insurance company to change over time, as your life circumstances and requirements change. Even if you’ve been with the same insurance provider for a long time, it’s still recommended that you obtain quotes every six months to a year to confirm that you’re receiving the appropriate coverage.
Q: I didn’t have an accident — Why is my insurance going up?
A: The cost of car insurance in Mesa is influenced by several rating factors, with end-of-year earnings being a major one. Insurers compare the premiums collected against the cost of paying out claims to determine their earnings. However, even if you’ve never filed a claim, you may still have to pay more with a particular insurer because of the higher cost of conducting business in Mesa.
Recommendations:
- Regularly Compare Quotes: Even if satisfied with your current provider, it’s wise to compare quotes every six months to a year.
- Understand Rating Factors: Know the factors influencing your premium. Improving your credit score or maintaining a clean driving record can lower your rates.
- Teen Drivers: For parents with teen drivers, consider adding them to your policy and exploring discounts for good grades and safe driving.