The cost of car insurance can vary greatly from one car insurance company to the next and how much your premiums are depend on a number of items car insurance companies use to assess the risk of you filing a future claim. As a women driver you certainly benefit from lower car insurance rates given all things equally compared to an application for a male driver however just a minor change in your profile can quickly escalate your premium rates higher than many of your male friends.
Car insurance rates average around $800 to $2,000 annually for most drivers with women drivers paying much less than male drivers however the answer to “how much is car insurance per month” is not as clear cut as you may think. Some of the most influential factors in your application for car insurance include;
Where you Live
Where you live and where the car is registered play a very critical part in calculating car insurance rates. While most states have very competitive markets for car insurance there are also unique laws which apply to certain areas that pose a substantially higher or lower risk to car insurance companies. Drivers in Florida typically pay around the national average while residents of Louisiana and Michigan can pay almost 200% more than a driver with the same profile living in Ohio, Vermont or Maine.
Your Credit Score
Credit scores play a big role in car insurance and drivers with bad credit often get quoted higher rates or sometimes even denied coverage. The natural emotional correlation to credit scores and car insurance have many drivers assume credit scores have nothing to do with car insurance however statistically it has been proven that drivers with poor credit tend to file more claims. It actually makes sense logically if you think about it. People with bad credit often have less access to credit, limited funds in the bank and the only way to get minor damage repaired is to make a claim.
Before shopping for car insurance always pull a copy of your credit report (and score) to identify any errors and start correcting them. This is something you should do annually anyway regardless if you need car insurance or not. Credit scores impact a lot in our lives and you always want to make sure an accurate report is on file.
Your Driving Record
Good drivers benefit the most and many car insurance companies offer substantial discounts for good drivers. However you want to pay close attention to car insurance companies with “accident forgiveness waivers” as without this type of one time waiver even a minor accident can suddenly increase your car insurance rates by 100% or more. Even the best drivers can be involved in a car accident but with a single accident forgiveness waiver as part of your policy you have some protection against higher premiums.
If you happen to love speed or have a DUI conviction even the best smile won’t get you far with car insurance companies. Any driver convicted of a DUI or speeding tickets will be classified as high risk. While a speeding ticket or 2 may not disqualify you for coverage a DUI will limit your options as many car insurance companies will just deny you coverage. High risk car insurance is much more expensive than typical insurance with premiums often 200% or higher with much less coverage.
The Type of Car Insured
Auto insurance is also based on the make and model of the car. Vehicles with airbags, anti-lock brakes and other factory installed safety equipment can lower the risk of injury in an accident (hence lower the risk of a claim) and vehicles with anti-theft devices, LOJACK tracking and other theft deterrent systems also provide value to the risk model. While most typical priced cars fall within the same range of risk you always want to check with your car insurance company about the cost of car insurance for a particular model well ahead of purchasing the vehicle. Sometimes a simple change to a higher model or comparable vehicle can increase your premiums and its wise to understand your total financial obligation before committing to a car loan.
Other factors such as your age, how many drivers live in the household, how the vehicle will be used and other factors make up a smaller portion of the risk calculation but for most drivers these 4 items will have the biggest impact on your car insurance rates.
Women drivers have many options for car insurance and the best way to find the most affordable rates is with a car insurance comparison search so shop around and try to compare at least five or six companies before settling on a provider.