What determines the price of my auto policy?

There are many factors that influence the price you pay for auto insurance. Your premium may be higher or lower, depending on:

1. Your driving record.
The better your record, the lower your premium. If youíve had accidents or serious traffic violations, you will pay more than if you have a clean driving record. You may also pay more if you havenít been insured for a number of years.

2. The number of miles you drive each year.
The more miles you drive, the more chance for accidents. If you drive a lower than average number of miles per year, less than 10,000, you will pay less. For instance, some companies will give discounts to policyholders who carpool.

3. Where you live.
Insurance companies look at local trends, such as the number of accidents, car thefts and lawsuits, as well as the cost of medical care and car repair.

4. Your age.
In general, mature drivers have fewer accidents than less experienced drivers, particularly teenagers. So insurers generally charge more if teenagers or young people below age 25 drive your car.

5. The car you drive.
Some cars cost more to insure than others. Variables include the likelihood of theft, the cost of the car, the cost of repairs, and the overall safety record of the car.

6. Your Credit.
For many insurers, credit-based insurance scoring is one of the most important and statistically valid tools to predict the likelihood of a person filing a claim and the likely cost of that claim. Credit-based insurance scores are based on information like payment history, bankruptcies, collections, outstanding debt and length of credit history. For example, regular, on-time credit card and mortgage payments affect a score positively, while late payments affect a score negatively.

7. The amount of coverage.
Of course, like anything else, the more coverage you have, the more you pay. However, you may qualify for discounts.

- Hoffman Auto Insurance

NOTE: The answers to coverage questions are primarily based on ISO forms generally used in Florida by most companies. However, please keep in mind that all companiesí forms are NOT necessarily the same. Some companies may provide broader coverage and some may be more restrictive.
IN ALL CASES, THE CONSUMER MUST REFER TO HIS OR HER OWN POLICY FOR SPECIFIC COVERAGE INFORMATION.

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Information contained within this site is the property of Hoffman and Associates Insurance Company and is provided for consumers looking to purchase insurance. Any other use is prohibited. We are not responsible for errors and omissions on this web site. All information contained herein should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is required. Please contact Hoffman Insurance Company at 321-751-2511 before making any purchase decisions based on information contained on this web site to check for validity. This content is copyrighted by Hoffman and Associates Insurance Company and will bring legal action on to anyone who copies the information contained here. PLEASE NOTE THAT COMPLETION OF A REQUEST FOR INFORMATION DOES NOT CONSTITUTE THE PURCHASE OF INSURANCE. NO COVERAGE MAY BE ADDED, CHANGED OR BOUND AS A RESULT OF SUBMITTING A REQUEST FOR INFORMATION. ALL COVERAGE MUST BE CONFIRMED BY THE AGENCY IN WRITING SUBJECT TO AN ACCEPTABLE SIG NED APPLICATION MEETING THE UNDERWRITING GUIDELINES OF THE INSURANCE COMPANY. Please read your policy carefully for your terms of coverage. No information in this website alters the terms of coverage in your individual policy. If you do not agree to these terms please exit this website

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