What factors can cause my automobile insurance premiums to go up or go down?

Your automobile insurance premium in Las Vegas, NV is based on many factors. These factors may cause your premiums to increase or decrease. Some of these issues you can control and some you cannot. Once you understand what affects your rates, you may be able to have better control over your costs.

Increase in premiums

If you add a new car to your policy and increase the coverage, your rate will increase. The same thing applies if you add a new driver or lower your deductible. However, these are only a few of the factors. If you are involved in an accident, and you are found to be at fault, your premium will most likely increase.

You should expect to see significant increases if you receive citations for moving violations. This means speeding tickets or other infractions. A ticket for parking incorrectly will not normally increase your rates. Insurers can also increase the rates of a group in entirety. This is not something that you have control over.

Decrease in premiums

You can often see lower premiums if you maintain a superior driving record for several years. Rates can also change as you change age groups or marital status. If you combine an auto policy with a homeowners or rental plan, you might receive a discount. Removing collision or theft protection or increasing your deductible can also help your lower your premium cost.

Your automobile insurance premium is based on the amount of risk the company has in insuring you. We are your independent insurance agency for the Las Vegas area and we want to help you have the right amount of insurance for your needs. You can compare quotes from several insurance providers online to see the costs and coverage available. If you have questions, we will be happy to help you.