Why are my insurance rates so high? So low?

When auto insurers set your rates they look at a number of factors.

Your driving record — If you were at fault in an accident or have a number of traffic violations this will impact your premium. The insurance companies figure if you have one accident or ticket then the chances are you will incur more.

Your family's makeup — If you have a teenage son, watch those premiums sky. However anyone under 25 in your family is going to drive up premiums as is someone over 70. If you are married, statistics say you are a better risk than a single.

Your car's make and model — Some cars are at the top of the list for auto theft while others are expensive to repair. The Lamborghini you scrimped and saved for is going to cost you in the insurance column more than if you had opted for a used Chevy Impala.

Your address — The risk of accident or theft can vary significantly from state to state and geographical location within a state. If you live on the farm your chances of having an accident are less than if you live in a highly populated area, therefore rural drivers have lower premiums than city drivers.