Factors Influencing The Cost of Auto Insurance in Springfield, MA

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The average cost of auto insurance in Springfield, MA, is $1,233. This is much lower than the average cost of auto insurance in neighboring places such as East Longmeadow, Longmeadow, West Springfield Town, Chicopee, and Ludlow. The cost of auto insurance in Springfield depends on numerous factors ranging from the make and model of the car to the driver’s age. Below is a list of factors that influence the cost of auto insurance in Springfield.

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Deductibles:

The rate of the deductible is one of the most common factors affecting the cost of auto insurance in Springfield. A low deductible tends to increase the cost of auto insurance, while a high deductible decreases it. For instance, in Springfield, the cost of auto insurance for a low deductible, say $500, is $1,686, while it is $1,424, against a higher deductible of $1,000.

Age of the Driver:

The driver’s age is another factor that affects the cost of auto insurance. Younger car owners end up spending more on auto insurance because of their lack of driving experience. With an increase in experience, the cost of auto insurance decreases. As the above infographic indicates, the cost of auto insurance for teenagers in Springfield is $4,001. In contrast, it is lowest for car owners in their fifties and sixties. The former pays $1,087 on an average, while the latter pays $1,102. Women are considered to be safe drivers, which makes auto insurance cheap for them.

Driving Record:

A poor driving record can also lead to a massive increase in auto insurance costs for car owners in Springfield. Post-DUI, the cost of auto insurance increase rises to $2,232. Other major driving violations can also cause a massive increase in rates. Driving with an expired license can increase auto insurance by $831 while speeding and running a red light can increase the cost of auto insurance by $302 and $287, respectively.

Being a safe driver has its benefits since the amount of risk being covered by the insurer is less when the driver does not have too many violations.

Credit Score:

Having an “average” or “poor” credit score can also lead to a massive increase in auto insurance premiums for drivers in Springfield. The cost of auto insurance for drivers with an “average” credit score is $1,676 and $2,011 for drivers with a “poor” credit score.