What factors affect my insurance premium?

The insurance premium you pay is determined by several factors. Firstly, your driving history and experience play a significant role. Insurers consider factors such as the number of accidents and traffic violations you have had in the past. Secondly, the type of vehicle you own affects your premium as well. Sports cars and luxury vehicles typically have higher premiums due to increased risk. Additionally, your age, gender, and marital status can influence rates. Young and inexperienced drivers tend to pay more, and males might have higher premiums than females due to statistical risk factors. Finally, your location matters because insurance companies analyze the crime rate, frequency of accidents, and other localized risks. These factors collectively impact your insurance premium.