Most New Jersey drivers know a thing or two about their auto insurance rates. They know that if they get a moving violation for speeding, running a red light, or passing a stopped school bus, their auto insurance will go up. They know that if they are convicted of driving while intoxicated (DWI), their insurance will skyrocket. They also know that young, newly-licensed teenage drivers cost more to insure until they’re about 25.

But are there other factors that drive insurance rates? As a matter of fact, yes, there are several other factors that determine a person’s auto insurance rates and it’s good information to know. So, if you’re driving an older car and your friend is paying less insurance for their brand-new vehicle, the following may explain why this is.

These factors go into determining how much or how little a New Jersey driver pays for auto insurance:

• Your age. Statistically, younger people cause more car accidents than older, experienced drivers; therefore, their auto insurance premiums are higher.
• Your gender.Young males cause more crashes than young females, so they pay more in auto insurance. It’s the same with men; they cause more crashes than women, so they too pay more than women on average.
• Your experience. You can be newly licensed for the first time at age 30, but since you are not experienced, you will likely pay more in auto insurance than a 30-year-old who’s been licensed since they were 16 and have a clean driving record.
• Where you live. Since vandalism and auto thefts are more prevalent in big cities, you will pay more in insurance if you live in a big city versus a small, rural town. So, if you moved from the country to the city, now you know why your insurance increased. Your zip code alone could be the sole reason why it went up.
• Your driving record. If you have moving violations, you’re considered a higher risk driver so your insurance premiums will reflect that.
• The type of car you drive. Some cars cost more to repair or replace than others; therefore, the more expensive to fix or replace, the higher the insurance.
• How many miles you drive each year. The more you drive each year, the greater the chances of you being in a crash. When your agent asks you, “How many miles do you drive each year?” now you’ll know why.
• Where you park your car. Some insurance companies give people breaks when they park their car in a locked garage.
• Your credit score. People with worse credit will pay more in insurance, sometimes hundreds more each year! Insurance companies believe that the lower the credit score, the higher the chances of the driver filing a claim.

Related: Determining Fault in a Car Accident Claim

We hope you find the information in this post useful. If you’re looking for a New Jersey car accident lawyer to file a claim for compensation, contact Brandon J. Broderick, Attorney at Law today. We look forward to helping you.