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How to Determine a Fair Price for Car Insurance

car insurance


Many of our West Bend and Ripon customers often ask “how much does car insurance cost?”. We don’t want you to overpay for car insurance, but it’s hard to determine what’s considered too much for car insurance when you don’t know the baseline. You’ll also need to understand how car insurance works. For this reason, it’s important to do the research necessary so you can make sure that you get the best rate possible. We’ll give you some tips!

How is Insurance Calculated?

In order to figure out what a fair car insurance is, you have to understand how insurance is calculated. In general, the amount is calculated using a variety of factors. The price will increase or decrease depending on how you fare in these factors. A few of them are listed below:

Driving History: Events like accidents, speeding tickets, etc., can have a heavy impact on your insurance cost. To keep the amount low, maintain a good driving record.

Car Type: Newer, luxury cars will be more expensive to insure than older vehicles due to the higher repair costs. The health of the vehicle also plays a factor.

Age: If you’ve been driving for a number of years, your insurance rate will more than likely be lower than that of a teen driver. New drivers tend to be riskier drivers due to their lack of experience.

Gender: In general, it will be more costly to insure a male driver than a female driver. This is due to the fact that males typically get in more serious car accidents.

Location: Your location can be an important factor in determining your insurance rates. If you’re in a more suburban area, you’ll likely have a lower rate since your car is safe in the driveway or the garage. Living in the city typically requires parking on the street or a parking garage, giving more opportunity for your car to be damaged. Understanding what the average rates are in your area, i.e. Sheboygan or Beaver Dam, will help you see whether you’re being offered a fair auto insurance rate.

How Much Does Car Insurance Cost?

If you’re a Oshkosh driver who already has car insurance, you can shop around to see if the rate you currently have is fair. There are different things you can do to decrease your rates which we’ll discuss below. Take a look at some of the methods you can take advantage of to lower your policy costs:

  • Consider purchasing an affordable vehicle. Luxury and sports cars are more likely to be stolen or broken into.
  • Look at bundle opportunities. Some policies allow you to combine your home and auto insurance. Do some research to see if you can find a company that has packages for insurance.
  • Enhance your credit score. Make sure that you’re paying all of your bills on time and taking care of any outstanding payments.
  • Review your current plan. Make sure you’re not overpaying and paying for things that you don’t need. Take a look at your bill and understand exactly what you’re paying for.

Visit Us at Holiday Automotive Today!

If you need to get an estimate, you can find an insurance payment calculator online. In the meantime, use our payment calculator to determine what your monthly payments would be for one of our new vehicles! Our finance team will be happy to help you and answer any questions you may have. Contact us today!

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Holiday Automotive 43.7877556, -88.4874357.