When Deboo Insurance Agency Inc. and other insurance companies take on new clients in Deerfield Beach, FL, we must look at the risk factors to make a fair decision. Understand that many of the risk factors aren’t set in stone, and you can do a lot to mitigate them yourself. Here is a look at how auto insurance companies assess risk.

1. Your Driving Record and History

If you have accidents, especially at-fault accidents, traffic violations, previous claims, or other related incidents on your record, insurance companies will see more risk associated with insuring you.

A clean record works best, but some violations or past accidents don’t automatically mean you’ll have to pay more for auto insurance. You can mitigate this all to some extent by avoiding any new incidents for a length of time since the last incident.

2. Your Credit Score

Credit isn’t always a major risk factor but can affect the overall risk assessment. Improving credit and striving to maintain a good credit score helps. Remember that, for insurance companies, your credit score represents a look at your level of financial responsibility.

You don’t need excellent credit. You only need to show you don’t have a current history of not paying debts.

3. Your Vehicle

Vehicle types do affect risk assessments and insurance rates. Is the vehicle you want insurance on:

• Expensive to repair or replace?
• A high target for theft?
• Innately unsafe?

Luxury, sports, and unique vehicles can come with more risk. However, this also applies to any car that frequently falls victim to theft or damage.

Insuring a car with high safety ratings, fuel efficiency, and low theft rates can help. Otherwise, you should seek to add safety features to the vehicle you plan to insure to lower some of its risk factors.

Other risk factors can also come into play, such as your location or the vehicle’s location. Not all insurance companies assess risk the same way. If you want to know more about mitigating risk factors for auto insurance in Deerfield Beach, FL, contact Deboo Insurance Agency Inc. today.