Connecticut Education Association

CoverVantage® Tips

USI Affinity Insurance Services

What Affects Auto & Home Insurance Premiums?

A Few Tips on Saving Money on Your Insurance Premiums

What factors affect auto insurance premiums?

The type of vehicle you drive (SUVs, convertibles, and performance vehicles typically cost more to insure), and where you live in regards to extreme weather conditions or if you’re in high traffic areas where risks of thefts are higher contribute to determining an auto insurance premium. A driver’s record, which includes their past claims records and credit history, is a main factor in determining rates


How can you save money on your auto insurance?

The two best things you can do to save money on car insurance is drive safely and abide by the laws. Any violations or accidents will cause rates to increase. Buying safety devices such as anti-lock brakes and passive restraint systems both to protect you and your family can reduce rates. Some drivers find that swapping collision and/or comprehensive coverage for liability only coverage on a low value vehicle that is not financed is an effective way to save money. Check your state’s laws and your comfort level to determine if this is an option for you. Most importantly, make sure to shop around for coverage. There are considerable differences in rates between insurance companies. What was the best deal a few years ago might not be today.

What factors affect home insurance premiums?

The age of the home, the type of structure, the condition of the roof, and if you have garage, are all home characteristics that affect your insurance premium. Location, such as proximity to a fire station, exposure to extreme weather (hurricanes, tornadoes, hail storms or earthquakes), and the neighborhood in which you live in are other determining factors. Having protective devices such as burglar alarm systems, smoke detectors, fire extinguishers, and sprinkler systems can affect the premium.


What are some other factors that affect home insurance premiums?

An owner’s behavioral lifestyle and credit history can also factor in to the premium cost. Non-smokers may pay less than smokers do, and if you have a good credit rating your premium could be less. Owners may want to consider withholding claims for small events to avoid premium increases. Keep in mind that the lower the deductible on the policy means the higher the premium will be.

Make sure your family is covered.

These tips are brought to you by USI Affinity to ensure the safety and security of you and your family. Learn more and find out how to get your auto and homeowners insurance in sync with your needs at special group rates by calling
1-888-577-7771, or by clicking here to contact us.