Why did my car insurance go down?

[crazy!!]

My car insurance premium went down by $10/ mo. I have no idea why. My credit score just went from 631 to 747 in just a couple of months because I fixed some errors, and I am also turning 24. Could either of these be the reason that my premium went down? Or is my car just worth less b/c all the new models are comming out? I drive a 2002 Honda Civic.

 

[Sassafrass]

COuld be b/c of your driving record. Did you go w/out ay accidents this year? Some ins. companies will lower your rates if you've had no accidents. Hey, my opinion...don't ask

 

[CAITLIN]

It could be a number of reasons, insurance is based on a point system (not to be confused with points on a license). You are scored based on age, marital status, how long you've been with the insurance company, credit score, driving record, etc. Also the type of car will go into the score. So it could be several factors. Your policy paperwork will probably tell you your score, also sometimes refered to as an insurance tier. You can compare last year's and this years. The re-tiering happens at the renewal or when a car on the policy is changed. If you are mid policy and haven't made changes, the difference may be because you are no longer being charged a fee of some kind.

 

[Sassafrass]

COuld be b/c of your driving record. Did you go w/out ay accidents this year? Some ins. companies will lower your rates if you've had no accidents. Hey, my opinion...don't ask

 

[the man]

the credit score is what did it. they use them to charge us more if we have bad credit. dont sound fair as credit has nothing to do with your driving record.just be glad. good luck.