How does Driver Mileage Impact Car Insurance Rates?
When it comes to personal finance, understanding the nuances of car insurance can make a significant difference. For instance, one common but often overlooked factor that can affect your insurance premiums is driver mileage.
Why Does Mileage Matter to Your Car Insurance Company?
Insurance companies assess risk based on various factors, one of them being the amount of mileage a driver clocks in. High-mileage drivers can pose a greater risk, leading to higher insurance premiums. However, not all drivers are aware of this aspect of car insurance, which can often lead to surprises when the bill comes.
How to Improve Your Personal Finance Strategy with Your Car Insurance
Knowing that the mileage you cover can impact your insurance rates can be crucial to your personal finance strategy. For some, reducing their driving can lead to significant savings on their car insurance premiums. This knowledge can also help drivers negotiate better rates with their insurers.
Reach Out to Personal Finance Experts for More Information
If you have any questions about the impact of driver mileage on car insurance rates, feel free to reach out to our personal finance experts. Contact our columnist Susan Tompor at stompor@freepress.com for practical tips and advice.
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