How do you determine the cost of your Pennsylvania auto policy? These factors are important in order to get cheap Pennsylvania auto insurance rates. After all, who wants to pay more for their PA vehicle insurance than they need?
Pennsylvania, like many other states, has its own requirements for automobile insurance. Pennsylvania is home to 12 million residents and many major cities like Philadelphia and Pittsburgh. Rates vary depending on where you live and what you drive. You need to know that rates can vary for each person and that you have many options to reduce your rates. Here are some important information regarding automobile insurance in Pennsylvania as well as key details about how rates are calculated.
Pennsylvania Auto Insurance Rates of The Past
While it is impossible to determine the current average car insurance premium paid by Pennsylvania residents, statistics show how much they have paid in the past. The average Pennsylvania premium was $909 in 2003, compared to the $914 national average. The reason premiums have risen since 2003 is because automobiles are now a necessity rather than a luxury. It is well-known that automobile insurance rates dropped for the first time in 2007. In 2007, the average premium fell from 0.5 to 1.1%. Experts predict that rates will rise again in 2008.
Rates of Automobile Insurance in Pennsylvania
Like many other industries, the PA auto insurance industry has its own determinants that determine how their rates are calculated. These factors are important because you can save money if you understand them.
1. Your place of residence is a key determinant of your PA car insurance rates. Because of the low chance of an accident, you won’t have to pay as much for car insurance if you live in rural areas. However, if you live near major cities like those mentioned above, your monthly premium will be higher. The premium will rise because of the high risk of theft and traffic jams.
2. Your age and gender are two of the main determinants of Pennsylvania’s automobile insurance rates. When you’re a teenager, the rates in the auto business are higher. They are also lower for middle-aged Americans (usually between 26 and 50), and they go up again once you turn 65. This is because seniors and teens are more likely to be in an accident than middle-aged people. Your gender is also important. Despite the common belief that women drive worse than men, men are more likely to be involved in accidents due to their tendency to drive more aggressively. This is why men are more likely to get into accidents than women.
3. It is important to note that the vehicle type and year are the most important determinants when insurance companies decide on a rate. Insurance companies receive a list of 100 top-ranking cars that have suffered the most injuries in an accident. They also identify the vehicles with the greatest risk of theft. The cars that are at the top of each category will be more expensive to insure as they pose a greater risk to the insurance company. It is important to note that car insurance companies often charge sports car owners more. This is because speed is associated with accidents in the automobile insurance industry. While some might argue that this discrimination is unfair, the auto insurance sector does.
4. Credit Report: This is a confusing topic that many people don’t get. It has to do with your auto insurance rate. Credit reports are essential for all insurance products on the market today. A good credit history will mean that you’ll pay less than someone with bad credit. This is because auto insurance companies protect themselves against drivers who are unable to pay their monthly premiums.
Pennsylvania Automobiles with the Highest Car Insurance Rates
The Most Expensive For Theft:
1. Cadillac Escalade four-wheel drive
2. Chevy Corvette Convertible
3. Lincoln Navigator 4-Wheel Drive
4. Four door Jeep Cherokee
5. BMW Series 3 Convertible
The Most Expensive Injury Treatment:
1. Four Door Suzuki Esteem
2. Four Door Kia Rio
3. Two Door Mitsubishi Mirage
4. Four Door Kia Spectra
Most Expensive for Collision:
1. Subaru Impreza Four-Wheel Drive
2. Four Door Lexus IS 300
3. Two Door Hyundai Tiburon
4. Two Door Porsche 911
5. Acura RSX
Pennsylvania Auto Automobiles with the Lowest Car Insurance Rates
The Cheapest Way to Steal:
1. Buick LeSabre
2. Buick Park Avenue
3. Volvo 720 Station Wagon
4. Grand Marquis of Mercury, Four-Door
Less Expensive for Injury:
1. GMC Sierra 2500 2-wheel drive
2. Chevy Silverado 2500
3. Four-Wheel Drive GMC Yukon
4. Four-Wheel Drive GMC Sierra 2500
5. Chevy Tahoe with Two-Wheel Drive
The cheapest Collision Repair:
1. Ford Excursion with Two-Wheel Drive
2. Four-Wheel Drive GMC Safari
3. GMC Sierra 2500
4. Four-Wheel Drive GMC Yukon
Find the Best PA Car Insurance Rates
You may have noticed that car insurance rates are not just dependent on one factor. There are many factors that contribute to determining your PA car insurance rates. Congratulations if you fall within the range of factors that will enable you to get a lower rate. You can still get a good rate if you live in a large city and drive a sports car. You will get a better rate if you do your research and look around.