If you have been shopping for car insurance either online or offline, you are probably very disappointed to find out how high the rates are. Even if your driving record is clean, both ticket-free and accident-free, car insurance rates are going up like anything else. And if you have had some tickets or accidents, you are likely seeing even a higher increase in your car insurance rates.
One of the things that many people don’t realize is a major change in the way that most car insurance companies determine premiums. In the past, it was almost entirely dependent on the type of vehicle you were trying to insure, combined with what part of the country you live in, your driving record, your age, and the amount that you specified for each of your deductibles. But very recently, another major factor being considered when your car insurance premium is being quoted is your credit report.
Yes, although many groups across the country are fighting this, to date those fights have not been successful. The auto insurance industry claims to support this with research that shows that people with bad credit are historically the people who file more claims and do not take as good care of their vehicles from a maintenance standpoint. So if you have less than stellar credit, you may want to take steps to change that, since one of the many benefits you will derive from having a good credit score is very likely to include lower car insurance rates.
Contrary to popular belief, getting a car insurance quote online is not always the least expensive. Many times it is, but that is not a guarantee. Many of the car insurance companies are trying to retain long time customers and offering them financial incentives to keep them, such as very competitive rates. If you have been with the same car insurance company for a number of years, it is worth the effort to find out if they can lower your premiums, or if nothing else, note what you are paying now and do some shopping around.
