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Your driving history plays a pivotal role in setting auto insurance rates. Insurers consider numerous aspects of your past driving behavior such as accidents, traffic violations and mileage when calculating risk profiles and premiums.
A clean record typically results in lower premiums while having accidents or violations on your record could incur higher rates. Understanding how driving history impacts rates will enable informed decisions with limited costs to avoid unnecessary expenditures and improve driving behavior overall.
In the following article, we’ll go over some key elements affecting insurance rates while offering tips to manage them effectively.
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Accidents Affect Insurance Premiums
One of the primary factors affecting your insurance rates is your history of accidents. Filing claims due to accidents makes insurers assess you as being at an increased risk, so they consider both at-fault and not-at-fault accidents when reviewing histories. When multiple at-fault incidents take place, premiums could increase significantly while not-at-fault incidents may not cause such dramatic effects; nevertheless, both scenarios could lead to increases depending on provider policies.
Insurance companies typically keep records of accidents for three to five years. After this period, past accidents should no longer affect your rates, provided you have maintained a clean driving history since then. However, keep in mind that insurers may review your driving history beyond this window, which directly influences insurance rates. Hence, practicing safe driving habits is beneficial to reduce accidents whenever possible.
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