What Really Affects My Auto Insurance Premiums?

What Really Affects my Auto Insurance Premiums?There are a number of myths and urban legends that have developed over the years about car insurance. People have spread the word that a wide variety of characteristics will affect your car insurance premiums, or may even bar you from having car insurance altogether. But while these rumors can be scary to hear as a car owner, we have good news for you. Most of these rumors are far from true.

Believing false information can lead you to buy insurance coverage that isn’t right for you, and this can really cost you in the long run. Above all, the most important factor in getting cheap auto insurance in Connecticut is driving safely and maintaining a clean driving record. Most other qualities will have little, if any affect on your premiums. Let’s take a closer look.

Age and Gender

It is a myth that car insurance rates are higher for older drivers on the assumption that they are more likely to get into a crash due to poor eyesight and slowed reflexes. Just the opposite is frequently true. Drivers over age 55 may even qualify for reduced car insurance rates.

Your premiums are not based on gender; they are based on driving history. Young men usually acquire higher rates than young women due to the fact that statistically, more male teenagers have accidents than female teenagers. However, older men generally have better rates than older women. Some evidence suggests that older women are in more minor accidents than older men, though the difference in premium costs usually isn’t drastic.

Credit Ratings

Rumor has it that credit cannot be viewed by your insurance company or used as a factor in determining your premiums. The truth is that many insurance companies use your credit history to set your rates. Insurers may give you a credit-based insurance score, which serves as an indicator of how likely you are to pay off a loan on time.

Some insurance companies believe your credit-based insurance score is also a good indicator of your accident risk. Those with better scores are often seen as less likely to get into an accident.

Type of Vehicle

Red car drivers, you can relax. Car color is not a determining factor in calculating your auto insurance rate. Factors that do determine your insurance premium include the year, make, model, body style,vehicle age, your driving record, and how often you drive. The car’s sticker price, repair costs, safety record, and history of break-ins may also indicate your insurance rate calculations. What do these have in common? How safe you are in the car on the road.

Since the color of your vehicle has no impact on auto insurance premiums, if you’re considering buying a red convertible, rest assured, your car insurance  rate will not be affected by your aesthetic choice. To qualify for the best car insurance rates, be a safer driver, own a safe, reliable vehicle, and seek out the right auto insurance coverage for your vehicle.


About Byrnes Agency

At Byrnes Agency, we offer auto insurance solutions that can be tailored to meet your specific needs. Whether you have an old classic car or a brand-new model, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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Dayville Office

Phone: (860) 774-8549

394 Lake Rd

Dayville, CT 06241

United States


Hours of Operation: Monday- Friday 9:00am-5:00pm

Norwich Office

Phone: (860) 886-5498

6 Consumers Avenue

Norwich, CT 06360

United States


Hours of Operation: Monday- Friday 9:00am-5:00pm

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