Factors that Affect the Cost of Your Car Insurance in Newark, DE

Purchasing car insurance is a simple and necessary task. But understanding what affects the price you are paying is not quite as straightforward. Many different factors determine what you are going to pay each month for protection.

At Broadbent Insurance Agency, Inc., we are intimately familiar with the ins-and-outs of car insurance in Newark, DE. We believe you will find this article helpful, as we are going to describe considerations that affect the cost of auto insurance. In this way, you will have the knowledge you need to make an informed decision on your policy.

We’ll look at the vehicle itself as our first factor. A newer model may be eligible for discounts as new cars often have the latest safety features. If you are driving a make that’s considered a luxury marque, then you might have to pay a bit more. That’s because parts and repair costs tend to be higher than more common cars. A similar consideration is the different trim and option levels within the model itself. A fully equipped example of one car might cost more to insure than a base model, for instance.

The higher car insurance coverage you purchase will increase the cost, but if you insure multiple vehicles, then you might be able to receive a multi-car discount. As you can see, many factors come into play when you are getting a quote.

Now, let’s look at the drivers themselves. The age of a driver is taken into account, as well as driving record. If you’re a 30-year-old driver with a clean record, you will pay less than an 18-year-old with a collision in their past.

Many other personal points come into play, such as where you live, because an area with a high number of claims will boost your premiums. But if you insure your car with the same company that provides your home insurance, then you will likely get a break on rates.

Other factors include if you are on a payment plan and the length of time you’ve been with the insurance company.

This article covers some of the main elements that are considered for car insurance in Newark, DE, and if you would like more information feel free to reach out to us for more details.