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Why Is My Car Insurance So High?

6 Reasons Your Car Insurance Is So High

Don't you just love how car costs creep up on you everywhere you turn? You've got to consider parking fees, smog checks, regular maintenance, registration costs, inspections, and worst of all, car insurance premiums. If you look at your car insurance bill and shake your head each month, you're not alone. Your insurance costs could be high for a lot of reasons — some of which might be out of your control, while others might be fixable. Here are some reasons you're paying more so much.

1. Your type of car.

"The year and model of your car will change the amount you pay to insure it," Seth Birnbaum, CEO and cofounder of EverQuote, says. Electric cars are cheaper to insure than gas cars because they're less powerful than gas-powered vehicles and therefore cannot go as fast, which reduces the risk of an accident. There are many other factors involved in determining how your car's make and model will affect your insurance costs.

2. You moved!

Yep, even something seemingly unrelated, such as making a move to a new location, can cause your car insurance premium to go up. EverQuote says that moving to a new location can cause your risk assessment to change "based on the driving statistics in that area."

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3. You've had an accident.

"Even if it's not your fault, insurers will spike up your rates," Birnbaum says. "Once you're in one accident, you have higher chances of being in another. According to data from EverQuote, on average in the US, 38 percent of drives have phone use, 36 percent of drives contain speeding, 32 percent of drives have harsh braking, and 16 percent contain sharp turning." Birnbaum adds that the more drivers avoid these driving behaviors, the less accidents you're likely to have, which can mean decreased monthly insurance premiums for you.

4. Car repair costs.

"Depending on the state you live in, repair costs can be as high as $411.45 a year for parts and labor," says Birnbaum. "By practicing safe driving habits like staying within the speed limit, not using your cell phone while driving, and soft acceleration and braking, drivers can save hundreds of dollars."

5. Severe violations.

Birnbaum says that repeated violations (like DUI or speeding over 10 mph above the limit) will bump up your premiums a hefty fine depending on your insurance carrier. Is the cost of a ticket and higher premiums worth making it to see the previews before the movie? Probably not.

6. You haven't compared prices.

You should always shop around before committing to a carrier. "Always shop around," says Birnbaum. "Find a website that can give you personalized price quotes based on your background and needs from different vendors — EverQuote is a great one-stop shop for receiving different quotes from providers."

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