LAS VEGAS - nvtip -- Your auto insurance premium is unique to you and is largely based on how likely you are to use it. A high-risk driver is one who is more likely to file a claim. To determine your riskiness, your auto insurance company uses a complex algorithm that weighs in a variety of factors.

4 Factors That Make You a High-Risk Driver

Your Age
Young drivers typically pay more for auto insurance than seasoned drivers who have decades of driving experience under their belts. The reason for that is simple: inexperienced drivers are less likely to accurately assess risks and make the right spur-of-the-moment judgment calls, which results in a greater likelihood of them ending up in an accident. Even if you are a careful driver that has never been in an accident, as a young driver, your age bracket will automatically result in a higher premium.

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Your Living Arrangements
There is a reason that some auto insurance companies provide homeowner discounts. In the eyes of your auto insurance company, owning a home is associated with stability and low-risk behavior. While not all auto insurance companies give better rates to homeowners versus renters, if you have recently bought a home, your auto insurance agent may be able to help you score a better rate on car insurance.

Your Financial History
When evaluating a policyholder's "riskiness," auto insurance companies typically run a "soft" credit check. In fact, the National Association of Insurance Commissioners reports that about 95% of auto insurance companies use credit-based insurance scores in states where it's legal for them to do so, including Nevada. That's because many studies and risk assessors have shown that a person's financial history is a strong indicator of how many claims they will file in the future. It's important to note that your credit-based insurance score isn't the same thing as your credit score that's used by lenders. While each auto insurance company uses its own unique algorithm for generating this score, the score typically includes your payment history, outstanding debt, credit history length, the types of credit you have and whether you've recently applied for a loan or credit card.

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Nevada Insurance Enrollment
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Website: NevadaInsuranceEnrollment.com