5 factors that affect what you pay for auto insurance

Your deductible significantly impacts your auto insurance premium. While a common deductible is $500, choosing a higher amount like $1,000 can save you about 9% on average. However, be prepared to pay this higher amount out-of-pocket before your insurer covers repairs.

The make, model, and year of your car play a major role in your insurance cost. More expensive cars generally cost more to insure. Additionally, if your car model is frequently stolen, your insurance rate may increase.

The number of miles you drive annually affects your rate because more time on the road increases accident probability. Driving 9,000 miles or less per year often qualifies you for a low mileage discount, but your insurance company needs to be aware of your actual mileage.

Your driving record has a substantial impact. A single speeding ticket can raise your premium by nearly 30%, while more severe offenses like a DUI can double your rate or more, depending on your location.

Personal factors such as age, gender, and marital status also influence your auto insurance rate. Younger drivers, especially men, typically pay more, while being married can lead to lower rates; for example, a married 20-year-old pays 21% less than a single 20-year-old.