How does mileage on a car affect insurance prices?
Does a higher mileage decrease your premium because the value of the car is lower or does it increase because your car is more risk of breaking down?
You can compare how the insurance quotes would change, for example here - autoinsurance.noneto.com
4 Comments »
davidepeden said :
July 25, 2010 at 1:01 am
I am not in the insurance business, but premiums are definitely lower on a car that is worth less. Unless you have some sort of coverage specifically dealing with breakdowns, I don’t see how that would be a factor.
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Experienced driver, vehicle owner.
WelshLad said :
July 25, 2010 at 1:33 am
The higher the mileage the more it costs, as you are most likely to be in an accident.
Insurance doesn’t cover breaking down.
References :
William said :
July 25, 2010 at 2:22 am
You can compare how the insurance quotes would change, for example here - autoinsurance.noneto.com
References :
Kara Foehrenbacher said :
July 25, 2010 at 2:34 am
If you have a higher odometer reading on your car and it is an older car, you probably will have a lower rate. If you are putting a lot of miles on your car per year, then your rate will be higher. You are on the road more often, which means a larger risk for accidents and claims.
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