It is a bizarre and somewhat unknown science in how auto insurance rates are decided. Call one day and the rate is $20 cheaper than a call to the same company a month later. Despite the mystery of the rates, they are built on detailed algorithms that account for a vast collection of data points both on an individual basis as well as the demographics as a whole.
Below are three odd facts about auto insurance that can save some money right out the gate. Fortunately, these odd little facts can be used to Lock in Your Auto Rate. Simply ask about them, request a certain price and expectation, and ask nicely for a rate that is stable while shopping around for other offers.
Science Majors Get Great Rates
The higher the degree, the more clients can save. But this is taken one step further with science majors who statistically have the lowest accident rates out of all graduates. This extends to engineers and those in areas of biology and education. Individuals with master degrees get the best industry rates.
Depending on the Car, a New One Gets Better Rates
Some makes may not apply, but a number of auto manufacturers see lower rates with newer vehicles. The algorithm may determine that individuals that drive new vehicles are akin to drive more carefully. Furthermore, if they can afford the new car, they may be a safer driver in general. These stereotypes may not apply, but they show up in the details and in the algorithms.
Parents Save Money
Parents may face some of the best rates out there. There are two reasons for this. For one, parents with kids in their car will typically drive much safer. Compound these savings if the car is a sedan. Secondly, parents can earn insurance discounts for being a parent.
Lock in Your Auto Rate today by contacting the best insurance companies. These facts may not all apply, but it still helps to know what goes into the rate determination. If anything, science majors with a new car and two kids may seem some of the most competitive and affordable rates in the insurance marketplace.
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