What factors affect the cost of my insurance premium?

There are several factors that can influence the cost of your insurance premium. One primary factor is your driving history, including any past accidents or traffic violations. Insurance providers often view individuals with a clean driving record as lower risk, resulting in lower premiums. Another significant factor is the type of vehicle you own, with more expensive and faster cars typically costing more to insure. Your age and gender also play a role, as statistics show that younger drivers and males tend to have a higher likelihood of accidents. Additionally, where you live can impact your premium, with urban areas or regions with higher rates of accidents and vehicle thefts resulting in higher costs. Finally, the coverage options you choose and the deductible amount you select can also influence your premium.