Surprising Factors That Can Affect Auto Insurance Rates

Most of our customers know a few things that can affect auto insurance rates, such as serious or frequent accidents. At Corkhill Insurance, we want you to know both the common reasons for insurance rate increases as well as some surprising factors that can affect auto insurance rates. The more you know, the more time and money you can save—and the more you can enjoy your driving experience.

Watch Your Credit
Your credit score and the timeliness of your credit card payments are two of many surprising factors that affect auto insurance rates. If you have poor credit, you could pay up to twice as much for insurance as drivers who have good credit and pay their bills on time. In fact, a bad credit score could do more harm to your auto insurance rates than a DUI conviction. Stay in touch with your bank to ensure your credit is strong.

Go to School
College, that is. Drivers with good educations generally pay less for auto insurance than those who have only high school diplomas or have dropped out. This may be because uneducated drivers aren’t as familiar with how auto insurance works, or it may be because the inexperience of high school drivers means they cause more accidents and other mishaps. Whatever the reason, let your insurance company know if you have a degree. It could positively influence your rates.