Are you currently shopping around for auto insurance quotes? It can help if you understand how an insurance company comes up with your specific premium prior to deciding on a policy. Siemers Insurance Agency, LLC has been providing quality insurance products to their Cincinnati, Ohio, clientele for years. Below their agents have identified three factors that determine your auto insurance premium. 

How Your Auto Insurance Premium Is Determined

1. Make & Model of Your Vehicle

The type of vehicle you drive can play a large role in how your insurance company decides on your premium. For instance, it will cost much less to replace the fender of a Toyota® than a Ferrari™. The sportier and more expensive your vehicle, the higher premiums you can expect. Additionally, a vehicle with enhanced safety features and locks will reduce your premium overall. 

2. Geographic Location

If you live in a large metropolitan city, expect to pay higher insurance rates than those who live in more rural areas. This is due to the higher incidences of theft, vandalism, and the likelihood of accidents occurring. If you’re in high-traffic areas, you are more likely to experience an accident than those living in less inhabited areas.

3. Driving & Claims History

Your age, gender, driving, and claims history can greatly affect your insurance premiums. A female with 20 years of driving history will likely have a much lower premium than a teenage boy with one year under his belt. Also, if you have a history of accidents, tickets, or insurance claims, you are considered high-risk to an insurance company. These will usually be red flags that trigger higher premiums. 

If you’re looking for an affordable auto insurance policy, it can help to speak with an insurance agent who understands the market. Siemers Insurance Agency, LLC provides individualized service to each of their clients in order to find the best coverage for their needs. Call them today at (513) 469-8877 or visit their website for more information.