Unless you’ve had experience working in the car insurance industry before, then it may not be an industry you know much about. At Freedom Insurance Agency, we’ve been providing Marylanders with our car insurance expertise for years, and wanted to take some time today to talk about a few things you should know about car insurance.
Insurance Companies Will Look At Your Credit History
Your credit score can impact your life in a variety of ways, even in areas where you wouldn’t expect it to. Insurance companies will look at your credit history, and will take it into account when formulating your coverage plan, and how much you’ll be paying. The higher your credit, the better rates your insurance company will give you.
Gender Affects Your Rates
Insurance companies have statistically found that males, as opposed to females, are more likely to get into an accident. Due to this, many insurance companies charge more to cover males. Some states have prohibited this kind of pricing, but Maryland is not one of them.
Insurance Companies Also Look At Your Marital Status
When figuring out your policy, insurance companies will take your marital status into account. Rates are often much lower for married couples than their single counterparts. Recently separated from your partner? If you recently lost/separated from your partner, then you can expect your rates to go up.
Your Rates Can Vary Based Off Location
Where you live can have a huge effect on your insurance. Rates can vary greatly from zip code to zip code. Those who live in areas with high rates of accidents, vandalism, and theft will have higher insurance rates than those who don’t.
What Level of Education and What Kind of Job Do You Have?
Many insurers will adjust your rate based solely off of your level of education, and your occupation. The higher your level of education, the lower your rates will be. Similarly, those with management/supervisor level positions, typically get charged lower rates than those with lower level positions.
Work With a Professional Maryland Insurance Company
Looking to adjust your insurance coverage? Need a new plan? At Freedom Insurance Agency, we’ve been providing Marylanders with our insurance services for years, and hope to do so for many more. If you need help with your insurance plan, get into contact with us today, to learn how our team can help.
