Car insurance rates depend on many variables, including your type and amount of coverage selection, where you live, driving history and age. Location often plays the most influential role as densely populated areas have higher accident and theft rates; consequently premiums tend to be higher here. Your driving patterns – long commutes or regular travel in high-risk areas can increase premiums; credit score impacts also play a part here with drivers with poor credit paying up to 82% more for coverage than those with excellent scores.
Delaware car insurance premiums tend to be 15% more costly than the national average. But there are ways you can lower your rate – including purchasing minimum liability coverage required by law in Delaware; and purchasing full coverage, which offers bodily injury liability and property damage liability, collision and comprehensive protection, plus costing 23% more.
Your vehicle type also impacts Delaware auto insurance rates; SUVs and minivans tend to cost more to insure than sedans or coupes, and adding drivers could significantly raise your rates; MoneyGeek conducted extensive analysis which showed that adding young drivers only increased rates by about 2.2x more compared to an adult driver adding their name onto a policy.
Other factors that may influence Delaware car insurance rates include your credit score, number of speeding tickets issued to you and whether or not DUI charges have been filed against you. Furthermore, leasing or financing agreements often mandate collision and comprehensive coverage as an essential requirement of continued payments to them.
Shopping around for car insurance providers in Delaware can be beneficial. As your age, driving record, and vehicle can vary between providers, it is wise to compare quotes from multiple providers before making your selection. In addition, some insurers provide specific discounts for certain demographics of people; military service members or students might qualify, while homeowners, college students, senior citizens, good drivers or even those willing to go paperless can receive savings with some policies.
MoneyGeek has conducted extensive research to make finding car insurance easier in Delaware, and we offer our free Delaware Car Insurance Calculator as a resource to estimate your yearly or monthly rates based on information you provide. Keep in mind, however, that each insurer uses different calculations methods when determining their rates – meaning your actual rates could differ slightly from estimates provided. Typically speaking, State Farm, USAA or Geico tend to be among the best options available for young drivers, seniors and veterans.