5 Unusual Things that Raise Your Car Insurance Rates


1
You're Single

Married people seem to have all the luck. Statistically, they live longer. Plus, studies show married people (and, incidentally, anyone with a solid credit rating) are much less likely to get into accidents or incur other driving violations than their single counterparts [source: J.D. Chapman Agency, Inc.]. Furthermore, if a married person does get into an accident, it's likely to be less costly than one a single person would be involved in. Not surprisingly, some insurance companies react to these statistics by hiking the rates of their single clientele, regardless of their driving history [source: J.D. Chapman Agency, Inc.]. Who's coming out on top in terms of insurers' risk assessments? Well, the lowest risk group, it seems, is comprised of married, middle-aged women who don't smoke [source: All Insurance Info].

Author's Note: 5 Unusual Things that Raise Your Car Insurance Rates

I just can't catch a break with this insurance stuff! After researching a few other insurance articles over the past few weeks, I realized it was time to drop the collision and comprehensive coverage we were carrying on two older vehicles. Score -- more money! But during my research for this piece, I learned insurers raise rates on drivers once they hit 50. Guess who just turned 50? I can't win. I just can't win.

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Sources

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  • Dykman, April. "Traffic Violations and Your Auto Insurance." Fox Business. June 21, 2011. (March 13, 2012) http://www.foxbusiness.com/personal-finance/2011/06/21/traffic-violations-and-your-auto-insurance/
  • Environmental Defense Fund. "Drive less, pay less for insurance." (March 13, 2012) http://www.edf.org/transportation/policy/pay-as-you-drive-insurance
  • Hanks Car Insurance. "Do Married Couples Pay Less for Car Insurance?" (March 13, 2012) http://hankscarinsurance.com/do-married-couples-pay-less-for-car-insurance/
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  • Investopedia. "Will Filing An Insurance Claim Raise Your Rates?" Aug. 13, 2008. (March 13, 2012) http://www.investopedia.com/articles/pf/08/claim-raise-rates.asp#axzz1ovxwkSz8
  • J.D. Chapman Agency, Inc. "Frequently Asked Questions." (March 13, 2012) http://www.jdchapmaninc.com/faqs.html
  • MSN Money. "2 Things Your Auto Insurer Won't Tell You." (March 13, 2012) http://www.badfaithinsurance.org/reference/PC/0027a.htm
  • MSN Money. (Article reported by Chris Kissell for Insurance.com.) "Pay-as-you-go insurance on the rise." Sept. 15, 2011. (March 13, 2012) http://money.msn.com/auto-insurance/pay-as-you-go-insurance-on-the-rise-insurance.aspx
  • My Car Insurance Rates. "Why Auto Insurance Rates Increase." (March 16, 2012) http://www.mycarinsurancerates.com/why-auto-insurance-rates-increase/
  • New York Car Insurance. "Why do New York Car Insurance Carriers Raise my Rates?" (March 13, 2012) http://www.newyorkcarinsurance.com/why-insurance-carriers-raise-rates.html
  • NHTSA. "The Scope of the Issue." (March 16, 2012) http://www.nhtsa.gov/people/injury/olddrive/CommMobilityDementia/pages/ScopeOfIssue.htm
  • Roberts-Grey, Gina. "Auto insurance premiums tied to credit score." Daily Finance. Jan. 29, 2010. (March 13, 2012) http://www.dailyfinance.com/2010/01/29/auto-insurance-premiums-tied-to-credit-score/
  • Woodyard, Chris. "Are seniors or teens safer drivers? The surprising answer." USA Today. May 20, 2010. (March 16, 2012) http://content.usatoday.com/communities/driveon/post/2010/05/are-seniors-or-teens-safer-drivers-the-answer-may-surprise/1#.T2QBN3nNmkY

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