It may seem awkward for the unadvised that two drivers can pay different premiums for the same coverage and very similar vehicles. In fact, prices may vary by as much as a few hundred dollars for a liability policy that costs less than $1,500 per year. No, the insurance carrier isn’t ripping you off (nor offering any “silent bonuses”). There are many factors that contribute to how much the insurance company bills you for their services, and here are some of them.
What the insurance company does when evaluating your file is compute the average cost of repairing your vehicle and multiply by the probability of you getting involved in an accident. It may be that a driver with a $100,000 vehicle and a twenty years perfect driving record pays the same as one with a $5,000 car who got the driver’s license only six months before and already had a DUI conviction.