Which of the following is a factor that could increase your auto insurance premium on Quizlet?

What will increase car insurance premiums?

What is a factor that increases costs of insurance premiums?

Age and gender influence premiums, with younger individuals and females typically paying less. Health, tobacco use, family history, and lifestyle/occupation can raise or lower costs based on risk factors.

Which of these will increase car insurance premiums?

Driving record

Even one speeding ticket or accident can raise your rates, according to the III. Insurance companies will typically look at your driving record for the last three to five years but more serious violations, like a DUI or multiple speeding tickets, might be considered longer.

Which of the following could cause your premiums to increase?

-Your​ age: younger drivers have less experience and pay higher premiums. - Your​ mileage: the more miles you​ drive, the higher the premium. -Your driving​ record: individuals with poor driving records pay more than individuals with good driving records. ​-Location: insurance is higher in larger cities.

Which of the following factors would cause your premium to be higher?

Common rating factors include age, location, driving history, credit score, and more. Put simply, the less risky your rating factors are, the cheaper your car insurance policy will be. Some auto insurance rating factors — such as driving record or vehicle type — have relatively sizeable impacts on car insurance costs.

Which of the following is a factor that could increase your auto insurance premium quizlet?

Value of the insured​ vehicle: the higher the value of the​ car, the higher the premium. -Repair record of the​ car: the more easily car damage can be​ repaired, the lower the premium. -Your​ age: younger drivers have less experience and pay higher premiums.

What two factors can make city driving difficult?

What are the 2 main factors that make driving difficult in the city? Traffic is denser in urban areas than it is in rural areas. There are more cars, buses, trucks and pedestrians per mile. City traffic hazards are closer to you than they are in to rural areas.

Which of the following is a factor that decreases your premium of an automobile insurance?

Your Age

Generally, drivers over the age of 25 will see lower premiums because they have several years of driving experience, whereas drivers under the age of 25 are still gaining their experience. Teenagers are especially risky to insurers.

What is an increased limit factor in auto insurance?

Starting in 2025, all standard auto insurance policies in California will see higher minimum liability limits: $30,000 for bodily injury or death per person (up from $15,000) $60,000 for bodily injury or death per accident (up from $30,000) $15,000 for property damage per accident (up from $5,000)

Which of the following is a factor that increases your auto premium: being male, being younger than age 25, all of these answer choices are correct living in a city?

Expert-Verified Answer

All of these answer choices are correct, as being younger than 25, living in a city, and being male all contribute to increased auto insurance premiums due to higher associated risks.

What are 5 or more factors that increase your health insurance premiums?

How insurance companies set health premiums. Five factors can affect a plan's monthly premium: location, age, tobacco use, plan category, and whether the plan covers dependents.

Which of the following is a factor that increases your auto premium?

The cost of car insurance is affected by factors including your age, gender, location and marital status; the vehicle you drive; your annual mileage; your driving record; your claims history and even your credit score.

What increases insurance premiums?

Inflation can impact insurance rates. Just as the price of goods and services can rise due to inflation, the cost of insurance premiums can also increase. Here's why: Insurers may raise premiums to attempt to offset the rising costs of claims.

Who normally has the cheapest car insurance?

Geico, Nationwide and Travelers are among the least expensive for car insurance. Americans are paying a lot for car insurance these days: Average annual rates for a full coverage policy are up to $2,638 per year, while minimum coverage averages $767 per year.

Which of the following are factors that affect the price of an insurance policy?

The cost of life insurance is influenced by factors such as death benefit amount, type of policy, riders, age, gender, health, tobacco use, family history, lifestyle, and occupation.

Which of the following expenses increases with higher collision rates?

The expenses that increase with higher collision rates are both automobile insurance and health insurance. This increase is due to the fact that insurance companies typically face more claims and higher claim amounts as collision rates rise.

Which of the following should reduce your auto insurance premium?

Deductible. Some kinds of coverage have deductibles. A deductible is the amount of loss which the insured is responsible to pay. You usually pay a lower premium if you choose a higher deductible.

What is the upside to having a high deductible?

This means you'll pay less each month for insurance and more out-of-pocket when you receive care. The upside? Preventive care is still covered at 100 percent on these plans. Once you hit your deductible, your health plan will start to cover the cost of your other care.

What are the factors of insurance premium?

The amount of premium you need to pay will depend on the amount of coverage and deductible. It will also depend on your location, credit score, and how many insurance claims you've filed in the past. The more coverage you get, the more expensive the premium will be.

What drivers generally pay more?

Your age – In general, mature drivers have fewer accidents than less experienced drivers, particularly teenagers. Insurers generally charge more if teenagers or young people below age 25 drive your car.