When shopping for car insurance in Missouri, it’s essential that you understand how prices are calculated. A number of factors affect Missouri auto insurance rates such as age, driving history, credit score and coverage level; MoneyGeek’s car insurance calculator gives an approximate quote based on these variables; but please remember that actual premiums may vary significantly from estimates provided.
Your vehicle type also plays a significant role in your auto insurance costs, with older cars typically costing less to insure than newer ones, while repair-intensive cars tend to cost more. Sometimes saving money may mean selecting less costly models or opting only for liability coverage instead of collision and comprehensive.
Your age can also have a major influence on your Missouri car insurance rates, particularly if you’re under 25 or over 55. Younger drivers typically pay more due to accidents and traffic violations on their driving records; however, good drivers with clean records may qualify for lower premiums.
Poor credit can be one of the key drivers behind rising car insurance costs, with insurers viewing it as a sign you may file more claims. But there are steps you can take to improve your score and help bring down rates for car insurance coverage.
Your car insurance rates will likely go up if your coverage lapses for even just a short while; insurance providers see any gaps as risk factors and typically increase rates by an average of 9% for drivers who let their coverage lapse.
Consider that Missouri car insurance rates depend on where you reside due to differences in accident statistics and cost of living; drivers in urban areas tend to see higher average premiums than drivers living in rural regions.
Also affecting your car insurance rate are your driving record, the mileage you’ll cover annually and the coverage options you select. As a minimum standard for liability coverage it is wise to have at least $25,000 per person/$50K total per accident for bodily injury liability coverage; in terms of property damage liability you should add at least $10,000 more per incident for coverage; but feel free to customize these limits depending on your unique needs.
Increased deductibles and lower coverage limits can also help lower car insurance rates in Missouri. When considering these options, make sure they match up to your needs and protect against financial loss in case of an accident or theft. Compare quotes from multiple providers before selecting your policy – taking this extra step could potentially save hundreds annually on Missouri car insurance premiums!