Cheap Vehicle Insurance Quotes, Car Insurance Rates Decline in Some Areas
Car insurance buyers should know that, just as with real estate, location really matters when comparing car insurance prices. Why will a driver pay a different premium if they live in a small community or a large metro area? Of course, insurers keep statistics on the amount of claims in an area, and also the expense of those claims. Insurers want to offer competitive prices, while charging enough to be profitable, and so they use these statistics as part of the formula to calculate rates.
Area Car Insurance Rates May Be Affected By:
The number of accident thefts.
The cost to settle accident claims.
The amount of car thefts.
Estimates of the number of uninsured drivers.
Of course, individual drivers within an area will pay different rates depending upon other circumstances like their age, personal driving history, and even the type of car on the policy. But given identical drivers, rates in a small town in Iowa will probably be lower than those in New York City or Los Angeles.