Because statistics prove that as separate groups young single males and single females have more accidents and moving violations than their older and married counterparts, their premium rating factors tend to be higher than the national average of just one. However, in the event you fall into either of such categories, usually do not despair.
There are many premium saving options available to you. Need more info? cool training. Before we delve into these premium saving maneuvers, you need to know the exact age, sex, and marital status breakdowns standard among most insurance companies throughout the country. The highest-rated group is that of single males under age 21, followed by ages 21-24 then 25-29, with the rates decreasing at each higher generation. The following rating factors have to do with principal operators-those who drive at least 25 percent of the entire mileage and also have their vehicles registered in their own individual names. Single males aged 21-24 use a rating factor that can vary.
Which means their final premiums can range from a low of $630 to as much as $900. Again, the differences in the premiums are staggering, and in this case a single male could save 30 % just by searching for the insurance company with the lower $790 rate.
Single males aged, that have a low rating factor, may have premiums which range from a low of $850 to a high of $1650. The staggering 40 percent contrast between both of these premiums is due entirely towards the arbitrary utilization of different rating factors among the various insurance firms.
Single males under age 21 use a rating component that can vary from 2.00 to a few.00 depending on the company-double to triple the normal premium charged to a adult male (30 and older) or a married male 25 or older. Compared to our standard example, in which the adult /married fees are $360 (based on a 1.00 rating factor), the ultimate premium for any single male under 21 would vary from a low of $720 ($360 X 2.00) to some high of $1,080 ($360 X 3.00), based upon the rating factor employed by the insurance company.
As you can see, the premium differences among various companies can be very staggering. In cases like this, you could save around 33 percent each year by simply focusing on how to shop around, a subject matter we’ll be examining comprehensive