Washington’s average car insurance rates average $612 annually for minimum coverage or $1,560 with full-coverage policies. To reduce rates further, it’s best to reduce coverage amounts and types purchased, raise deductibles or seek discounts; bundling home, renters and life policies could also bring savings over time. MoneyGeek has researched which insurers in Washington offer an optimal balance of affordability and service quality – read their profiles here!
Your coverage type and amount are key elements in determining your insurance rate; however, other considerations also play a part. Insurance companies take your driving record and vehicle ownership history into account when setting premiums; those with impeccable records with no traffic violations tend to pay less than those who have accumulated multiple tickets and accidents in the past year. Furthermore, car models such as luxury or sport-utility vehicles that cost more to repair tend to attract higher premiums than family sedans or cheaper options.
Washington drivers can save by choosing liability limits that meet the state minimums, with $25,000 of bodily injury per person, $50,000 of bodily injury per accident and $10K in property damage liability coverage per incident. Many experts advise choosing higher limits in order to safeguard assets against financial ruin in case of an accident that causes major property damage. Increasing premiums with additional coverage or adding collision and comprehensive policies might be worthwhile in protecting investments from further financial strain.
Your age, gender, marital status and location also play a part in determining your car insurance rates. Younger drivers typically pay more because insurers view them as higher risks because of inexperience behind the wheel and higher accident rates – on average in Washington a 16-year-old pays three times more than 40-year-old drivers for car insurance! Although gender has less of an effect than age when it comes to pricing car policies, many insurers still take it into consideration when setting prices.
Even minor traffic violations can quickly increase your insurance rates significantly, from speeding tickets to DUI-related charges which could double or even triple premium costs with some insurers.
Other key elements that impact car insurance rates are your credit score and driving record. While Washington no longer uses credit as a factor when setting premiums, your score still plays an integral part of premium comparison between insurance providers – it is therefore imperative that you maintain an excellent score! Keeping your driving record clean to avoid significant increases in premiums due to common violations such as speeding tickets or DUI convictions.