Car Insurance Hartford CT

We have been looking at premium definitions and also price hikes in several markets. Click here for the best possible rates for car Insurance Hartford CT market.

Premium ranges vary from state to state. In 2005, drivers in Hawaii paid the highest premiums in the country, an average of nearly $1400 a year; drivers in North Dakota paid the lowest, an average of less than $450 a year.

Other than the state you live and drive in, a consistent set of factors determine the premiums you pay

for auto insurance. These include:

• who you are;

• your driving record;

• where you live—within the state; • how you use your car;

• the model, mileage and year of your car; and

• the type of coverage you select.

THE DRIVER’S AGE

Perhaps the most hotly disputed rating factor is age. As with most insurance Hartford CT market coverage, it is illegal to discriminate against a person because of age in the issuance, nonrenewal, or cancellation of an automobile insurance policy. What insurance companies can do is structure premiums to accomplish their goals.

For most men and women, auto premiums actually drop a bit while they’re in their 50s. The rate of accidents per miles driven is lower for people in the 40s and 50s than any other group. Insurance companies know this and respond accordingly.

Click here for the best car insurance Hartford CT major market.

Since older people tend to drive less and to avoid the most dangerous conditions (at night. during rush hour and in bad weather) fewer older people than teenagers die on the roads. That means older people tend to pay lower insurance rates than even middle-aged drivers.

Accident rates—and premiums—begin creeping up again when drivers reach 60; over age 75, the rate of fatal crashes per miles driven is even higher than it is for teenagers.

The accident numbers for the oldest drivers skew perceptions among auto insurance Hartford CT risk analysts. They tend to characterize the entire population of over-65 drivers as high risk. This means that drivers between 65 and 75, whose accident rates remain relatively close to drivers in the middle-age categories, subsidize the drivers over 75.

“A logical step would be to adjust premiums so that the oldest drivers paid much higher rates,” says one risk analyst for a big multiline insurance company. He requested anonymity for his comments on this subject. “But that would effectively force people over 70—certainly over 75—off the roads. The political fall-out from that would be huge. There wouldn’t be an elected official in Florida who still had a job.”

The American Association of Retired Persons and other groups offer driver safety training courses for people over 50. The AARP stresses that the entire group—its target market—has more accidents per mile driven than any other age group. But some insurance industry professionals argue this is merely an attempt to spread risk.

We will closely monitor insurance Hartford CT major markets in future posts.

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