Factors Affecting Rates

Every insurance company has hundreds of different classifications for cars and drivers that affect auto insurance rates. While the following factors typically influence your auto rates, talk to your Horace Mann insurance agent about ways to lower your premium.

Type of Car(s) you Own

The type of car you drive does matter. Its price tag, repair costs, damage it can inflict on others in an accident, safety rating and likelihood of injury in an accident affect insurance rates.  Plus, sports cars are considered a higher risk to insure than family vehicles.

Your Age and Background

Your age, gender* and marital status all may affect auto rates.  Younger and older policyholders as well as males and singles are typically in more accidents, so their rates are higher.  Rates are also higher for those with a licensed teenager.  Plus, some states allow insurance companies to use credit-based insurance scores to rate drivers because insurers have proven a correlation between these scores and losses.

The Way You Drive

Do you drive for pleasure or business?  Have you had tickets or accidents?  Do you drive more than 25 miles to work?  Answers to these questions can affect your rates.

Levels of Coverage

How much protection you select for uninsured motorist coverage, underinsured motorist coverage and medical payments/personal injury protection, as well as the deductibles you choose for comprehensive and collision coverages, help determine your rates.  In addition, you may need – or even be required – to carry liability coverage as part of your auto insurance policy.  Choosing additional coverages such as Emergency Road Service and Rental Reimbursement will also add to the amount of premium you pay.

Special Discounts

We reward educators with special discounts on their auto insurance rates as educators are seen as better risks.  Plus, you may receive additional discounts if you have multiple policies with us and a good claims history, or if your employer provides you the option of having your auto premiums deducted from your paycheck.

Special Needs

There are numerous situations that fall outside general guidelines.  Should you keep young drivers on your policy or on their own?  What happens if someone in the household has a poor driving record?  What types of cars costs less to insure?  To help you answer these questions, talk to your Horace Mann insurance agent to figure out what’s best for you.


* Not applicable in all states.

Coverage underwritten by Horace Mann Insurance Company and its affiliates.

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