Glossary term
Rating factor
Rating factor: Any characteristic used to set a premium: age, years licensed, record, vehicle, territory, mileage, coverage choices.
Where this term matters
Guides and entries on this site that use the term.
Guide
How Much Car Insurance Costs for New Drivers
What new drivers pay for car insurance by age, why inexperience is priced so heavily, and how the premium falls over the first three years.
Entry
Telematics and Usage-Based Insurance for New Drivers: Is It Worth It?
See how telematics and plug-in tracking apps calculate discounts for new drivers, what driving habits insurers monitor, and whether signing up saves money.
Entry
What Happens to Insurance Rates After a New Driver's First Speeding Ticket
Understand how a first speeding ticket impacts new driver car insurance rates, how surcharges work, and the exact steps to minimize premium increases.