Who in their right mind would want to raise their Minnesota or Wisconsin auto insurance premiums? Of course, nobody would. However, there are certain things that may cause your premium to raise. Some of them, you can avoid. Some, not so much. Here are some things that lead to higher insurance premiums.
Be Under 25 – Or Turn 50
Apparently, there is a magic age range between 25 and 50 years where you are considered a good driver. Those under 25 and over 50 are higher risk, according to many insurance companies. This is despite the fact that the NHTSA (National Highway Traffic Safety Administration) says that drivers between ages 64 and 69 years are the safest. Go figure.
Have Poor Credit
Your credit rating affects nearly everything in your life. It’s not just institutions that want to extend a loan or credit line to you that need your credit score. Whether you’re applying for a job, renting an apartment, or buying auto insurance, your credit score could affect the terms. Talk to your Baldwin Woodville agent about how credit may affect your premiums, as this is a controversial factor in determining rates.
Drive More Miles
People who drive more have a higher chance of getting into accidents. This shouldn’t stop you from taking that amazing job 35 miles further than your current job, but it is something to keep in mind.
Lend Your Car to Someone – Who Crashes It
It hardly seems fair that your rates raise if your friend crashes your car. The fact is, you are responsible for your car, and your coverage is responsible for what happens to your car. This can have harmful effects on a friendship, so think before you loan your car out.
Get Plenty of Tickets
Tickets for moving violations in Wisconsin or Minnesota are expensive. But the cost of the original ticket is only part of it. Depending on your coverage, your insurance premium could increase 11% to 40% for up to three years after the violation. Add that to the cost of the ticket, and it’s really not worth it. Obey driving laws.
There are other things that can affect your insurance premiums, such as grades (if you are still in college), your zip code, any lapse in insurance coverage, or other things. Be sure to discuss with your Baldwin Woodville agent what things could increase your premiums on your specific policy. Some policies offer accident forgiveness for excellent drivers. Some have discounts for good driving behavior.
In the end, the best way to maintain the best insurance premiums is to drive safely.