Why Is My Car Insurance So High? An Expert Look At the Factors That Affect Car Insurance Rates

car with coins and calculator

Fifteen minutes can’t save you that much if you’re a reckless driver or you just got your license back from a DUI – no matter how clever the commercial is.

Car insurance is dependent on about 20 factors, and we’ve only detailed five of them here.

Want to learn the most common answers to “why is my car insurance so high?” Read on.

1. You’re a Reckless Driver

We all have a driving history and if you’re like most people – it’s probably nothing exciting. Maybe you ran a red light here or there or got a speeding ticket.

But if you’re racking up driving charges all the time, then your insurance premium is going to go up.

It makes sense – someone who has a habit of speeding (and gets multiple speeding tickets) is a bigger risk to the insurance company.

They don’t want to part with the money you pay them every month, so they make you pay more – just in case.

2. You Have a DUI

Sometimes people can’t get anyone to insure them after a DUI. Even when they’ve gone through all the reparations and spent the time without a license for however long the court says.

Even when you do find something like FR44 DUI Insurance, it’s going to cost more than you paid before your arrest.

The reason touches on the point above. Driving drunk is a reckless activity and it shows the insurance companies that you’re a higher risk. Even if it was a one-time thing and you’re otherwise a safe driver.

Most of the time you can re-apply for regular car insurance after a few years post-DUI with no issues. Just make sure you follow all traffic rules and have a clean record when you do re-apply.

3. You’re a Young Man

Remember how we said insurance companies don’t like reckless drivers? Well, young men are more likely to fall into that category than young women.

And insurance companies know that. If you’re trying to get your teenage son on your car insurance it’ll cost more than his twin sister.

It seems sexist, but there are statistics supporting this policy. You can sometimes get a discount on teen driving rates if you send the insurance agency proof of good grades. Somehow good grades equate to safer driving practices in insurance companies eyes.

4. Your Credit Score is Low

If you just filed for bankruptcy, you can expect to see your car insurance payments go up. That is if you still have a car to insurance once you’ve liquidated your assets.

There’s not a certain threshold of credit score that links to insurance rates, but a lower score leads to higher rates.

5. You Got a New Car

A lot of people don’t think about how getting a newer, nicer, or less-safe car will affect their insurance rates. If you went from your Grandma’s 2002 Camry to a 2019 Range Rover – you’re going to pay more.

Why? Because the new car is going to cost more to fix in an accident. In that example, it’s also a bigger car, so there are more repairs to do.

If you switch cars to the same or similar size model but your new car has a lower safety rating, you could end up paying for that. Call your insurance provider before you pull the trigger on a new car to find out how it’ll affect your rates.

Why is My Car Insurance So High?

If none of these examples answered your question, you can always call the insurance agency. If you had a policy and it suddenly went up, it’s reasonable to call and ask why.

Just don’t phrase it as “why is my car insurance so high!?” and be kind on the phone.

You catch more flies with honey, as they say.

Getting a new car (and planning to use tip #5)? See our picks for new cars here.