How much do you know about car insurance? Do you think you’re an expert? Here are three little-discussed questions to test your auto insurance knowledge. If you can get the answer right to these difficult questions, then you know more about car insurance than a majority of people in the country!
Who is car insurance cheaper for, men or women?
A single woman’s car insurance rate is almost always going to be cheaper than a single man’s rate, if they live in the same area, have the same driving history, have the same vehicle, and have similar credit. Insurance companies deem men to be a much higher risk than women. Studies have shown that men are much more likely to engage in speeding and dangerous driving habits. Although women aren’t immune to bad driving habits (we’ve all seen the woman driving with her knee while putting on makeup), men receive a slightly worse rate on average than women do.
Which is more important for your premium, tickets or accidents?
At-fault accidents will almost always be the worst thing that can happen to your insurance premium. If you are the cause of an accident, that means your insurance company is going to have to front some money. This is never good for your auto insurance renewal premium. Tickets may have a larger affect on your premium then not-at-fault accidents, however. Of course it depends on the type of ticket, how extreme the situation was, etc., but tickets can cause your insurance rate to sky rocket as well. If you are looking for the perfect storm, racking up serious speeding tickets while causing at-fault accidents is a sure fire way to do it!
Who is car insurance cheaper for, a man in his 70s or a man in his 30s?
Believe it or not, but auto insurance will probably be more affordable for the 70 year old man than for the 35 year old man, assuming all other things except their age are equal. This may come as a surprise to you, because older people generally tend to lose eyesight, hearing, and ultimately their ability to drive in a safe manner. However, studies have shown that people that are older seem to have better rates than those in the middle part of life. Is it because, in general, elderly people drive slower? It’s unclear exactly what the reason is, but one thing is for sure; there are some things that just seem to get better with age.