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Hawaiian Insurance Premiums Are Based on an Assortment of Factors
Did you know that your credit history can be a factor that determines your rate for auto insurance?
Most states let insurers consider a driver’s credit rating when determining their auto insurance policy. According to a recent study of the insurance industry, more than 90% of auto insurance companies use credit information to determine how likely you are to file an insurance claim. The more likely you are to file a claim, the higher your premium will be.
Insurance companies determine your rate on a bunch of other factors as well to assess how much of an “insurance risk” you are. These are based on statistics that show which groups of people result in the highest amount of payouts by a car insurance company. A policyholder’s risk factor is determined by data about a their car, themselves, and the area they live in.
You might be surprised to find out what factors can affect your insurance premium. Some common factors are:
- Your Vehicle’s Make & Model
- Your Age
- Whether You are Single or Married
- How Far You Drive Per Year
- Your Driving History
- Where You Live
- and as mentioned before, Your Credit Score
To find out more, view Hawaii auto insurance or Hawaiian auto insurance quotes.
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