8 Factors That Contribute to Changes in Your Car Insurance Premium

Your car insurance premium can be influenced by several reasons, including your claims history, driving record, adding new drivers to your policy, and even your credit score. However, there are also other factors that can impact your premium, which are mostly beyond your control.

Your Driving Record 

Instances such as accidents (regardless of fault), speeding tickets, reckless driving, and driving under the influence can result in higher insurance premiums. Previous claims can also lead to increased premiums, so it’s important to maintain good driving habits to minimize losses over time.

Your Credit score

Your personal insurance score, which incorporates your credit score, is used along with other factors to determine your rates. This practice allows insurance companies to provide coverage to a wider range of individuals and ensures fair rates for all customers. If you believe there are inaccuracies in your credit score, you can contact Equifax to have it corrected, which may lead to a reevaluation of your premium by your insurance company.


The more you drive, the greater the chances of being involved in an accident. If your driving habits change and you start driving less, it’s advisable to inform your insurance company, as you may qualify for lower rates.

What You Drive

Typically, repairing a new car after an accident is more expensive. Newer vehicles are also more susceptible to theft or break-ins. If you’re considering purchasing a dream car, it’s wise to discuss with your insurance company how it will impact your rates. It’s important to note that luxury cars aren’t the only ones targeted by thieves; high-demand parts make other cars equally attractive to them.

Additional Drivers on Your Policy

All the aforementioned factors, when applied to an additional driver on your policy, can potentially affect your premium. Adding a teenage driver, for example, often increases rates due to the higher risk associated with inexperienced drivers. However, some insurance companies offer a Good Student Discount if the teen driver maintains a GPA of B or better.

Location Statistics

Insurance companies take into account factors beyond your individual driving habits when determining your premium. For instance, factors such as crime rates, increased accidents (often caused by distracted drivers), a higher number of uninsured or underinsured drivers, insurance fraud, and increased natural disasters in your area can lead to higher insurance costs.


Auto repair costs have risen due to supply chain issues and labor shortages, leading insurance companies to adjust premiums accordingly. It’s essential to understand how inflation is impacting insurance costs.

Changes in Your Discounts

Insurance companies may introduce introductory discounts when you purchase your first policy with them, or they may modify existing discounts or fees. Review your insurance statement and contact your insurer if you have any questions. 

Shopping around is crucial to ensure you’re receiving the best value. Triton Insurance Group can help you uncover various car insurance discounts, from going paperless to switching policies before the previous one expires. We don’t work for the insurance companies, we work for our clients, and we will shop and compare insurance coverage to customize the best policy for you.

Reach out to a Triton Insurance Group agent today.

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Triton Agency works with hundreds of carriers so we can provide unbiased advice based upon what is best for our clients in both policy features and pricing. Whatever your Insurance needs (Home, Auto, Umbrella, Business, Liability or Workers' Compensation), we welcome you to experience the Triton difference.