What’s stopping you from getting a personal insurance coverage? Is it the thought that you think it’s not necessary? Or is it your budget because you’re afraid of high premiums for the coverage that you need? If you are worried about the latter, well fret not because policy premiums indicated in various personal insurance quotes vary. The premiums that your colleague is paying for his personal insurance may not be the same as to what the insurance provider will quote you. So to give you an idea how premiums are determined, please read on.

The first factor that insurance providers look into is your age. Of course, as a general rule, the younger you are, the most likely you’ll get lower premiums. That’s why, if you ask an insurance agent today what’s the best time to buy a policy, he’ll immediately reply now while you are younger. But often times, younger people tend to overlook the importance of getting coverage. It might be because they find it unnecessary or maybe they just can’t afford it. If only they’ll just compare personal insurance quotes, they’ll realize that personal insurance is not as expensive as they think.

Next is gender and lifestyle. Women tend to live longer than men and their work are often less dangerous than the opposite sex. So, if you’re a female, it’s most likely that the cost of premiums is in your favor, giving you the advantage. The same is true for those who don’t smoke. Smokers often get higher premiums since smoking as a habit can bring an adverse effect to one’s health. So if you’re thinking about getting coverage, quit smoking as early as now.

And lastly, medical history. If a critical illness runs in the family, it’s likely that you’ll have higher premiums. Most insurance providers even require you to undergo a medical examination to evaluate your overall well-being. Of course, the healthier you are, the lower your premiums will be.

So now that you know all these, you have more or less an idea how high your premium rates will be. You can always talk to an insurance adviser who will be happy to discuss your situation and provide relevant quotes.

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