Factors that impact the cost of your car insurance policy in Gainesville
When determining the cost of your auto insurance in Gainesville, insurance companies consider various factors that make your rates unique:
State requirements: Your policy must meet Florida’s minimum coverage, which is $10,000 for damage liability and $10,000 for personal injury protection (PIP).
Age: Younger drivers face higher rates due to inexperience and increased accident risks. However, rates tend to decrease after turning 25.
Car make and model: The safety of your vehicle influences your rates. A late-model Toyota Corolla will have lower insurance costs compared to a Chevrolet Corvette.
Driving record: Previous accidents and traffic violations can significantly raise your insurance rates since they indicate a higher likelihood of future claims.
Yearly mileage: Longer commutes result in higher rates compared to those who drive less frequently.
Credit history: A higher credit score correlates with lower rates. Insurers have observed that individuals with higher scores tend to file fewer claims.
Zip code: Your workplace and overnight parking location can affect your rates. Depending on the likelihood of vandalism or damage, you may receive a discount or experience a rate increase.
Marital status: Married drivers typically enjoy lower rates compared to single drivers.
Gender: Men around the age of 45 pay, on average, 6% less than females of the same age. However, the gender gap evens out for drivers in their 30s.