What uncontrollable factors influence the price of your auto insurance? It’s very frustrating to discover that when renewing your auto policy, the insurance company has raised the premium payment, without you having filed a claim, without receiving a ticket, without changing your car, without changing your address, without decreasing your credit score, without adding a new driver to the policy. Wow!
It seems unfair, but this is due to factors beyond one’s control. What are they?
Well, insurance premium prices, in addition to the insured individual’s experience, are determined by the behavior of the customer group to which we belong. Let’s take a hypothetical example: you, as an individual, are Juan Pérez, 41 years old, a good driver who lives in a certain area. Therefore, you belong to the group of men, aged 30 to 50, good drivers, who live in that area. The group to which you belong is classified with a certain level of risk.
If accidents, claims, and tickets increase within the group of men, aged 30 to 50, good drivers, who live in that area, the risk rises and consequently affects the insurance premium of the group.
The reality is that there are factors influencing the insurance premium price that you can’t control. In addition to the mentioned ones, you have to consider factors like inflation and the cost of auto repairs.
This doesn’t mean we should just stand by if external factors raise our premium price. On the contrary, we advise you to take action and call Univista Insurance, so their advisors can find a better offer for you in Florida’s extensive insurance market compared to your current insurer. What uncontrollable factors influence the price of your auto insurance?
Call us today for a comprehensive assessment! (305) 985-4126. You can also get a free quote here.
