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Auto Insurance Rating System Explained But the main factor is the safety of the vehicle. Safer cars cost less to insure. Insurers pay for accident benefits when an insured is harmed in an accident. Think about this: It costs a lot more to repair a human being than it does to repair physical damage on a vehicle. 2. Your location: where you live and where your vehicle is parked affects your rates. This is because different regions have different loss frequencies. Possible factors could include congestion, weather conditions, theft frequencies, and access to loss mitigation services. So if you’re shopping for a car insurance quote and can’t believe that your uncle in Iowa is paying half as much for the exact same car, it’s probably because you live in Los Angeles (or Toronto, or Chicago, or New York, Etc.) and the potential for loss is a lot higher in urban areas. « Previous Page « » Discuss it » Continue Reading »
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