How come my rates never change as my car gets older?

The type of vehicle and its classification (which takes into account that it is older) is only one part of the rating factors that go into determining your auto insurance rates. While your vehicle may be getting older it may be that costs for repairs for your vehicle are remaining the same, or going up, so if you were in an accident it would continue to cost the insurer the same or more. Your vehicle may actually become more popular with thieves and be more likely to be stolen then some newer cars. These types of issues can keep your insurance from being lowered each year.

You may find that your auto insurance rates go up, even with an older car. Premiums can go up for a variety of reasons. Some reasons or factors are under your control, such as your driving record, claims record and credit report. Getting a traffic tickets and being involved in an accident can both cause your car insurance rates to rise, depending on your state's insurance laws and your insurance company's rating system. Also many states allow your credit report to be looked at as part of the rating process.

Your rates can also rise if you add more drivers to your policy. If the new driver is inexperienced or a teenager it can be an extra expensive. If you add more cars to your policy or buy a newer, more expensive model vehicle it can also add to the expense of your insurance premium.

Other rate increases can be out of your control, such as when a state allows insurance companies to raise their rates. Also you cannot control that vehicles cost more to fix than the year before and that medical expenses go up. Insurance companies do routinely raise rates for all insureds to cover these rising costs they pay out.

So as these types of costs rise nationwide, the cost for insurance can also rise so that insurance companies can afford to pay out for claims. There are ways to keep your insurance rates low though.

Having a good driving record, taking traffic school, increasing your deductibles and asking for discounts are ways in which to keep your car insurance rates down. Driving fewer miles per year, fixing any problems on your credit history and shopping around for the best priced insurance policy are other ways in which to save.

To find out specifically why your rates have not gone down with your insurer as your car gets older, check with your insurance carrier. If your rates are raised or have change for some reason than many times your insurance policy renewal notification will list on there the reason. Even if your car is getting older your rates may stay the same or even go up due to some of the reasons we have noted above.

You may also contact your state's insurance regulator, which is the state agency that car insurance companies must file their rates with, to find out about your insurance company's rating system.

You can comparison shop with other insurance companies in your state to make sure you are getting the best price possible. With CarInsurance.com you can get instant car insurance quotes and then buy your policy online.