That is an excellent question! There are many factors that contribute to how the companies set their premium prices. The first thing to know is that insurers are all about the risk. The more risk that they will have to pay out, the higher your premium payment will be. Why? because they don’t want to collect a couple of payments from you, and get stuck paying out a large sum. So your driving record will be the first thing. Your age and gender will be a factor. Young male drivers are higher risks than middle-aged mom’s, for example, so the young man will likely pay higher premiums than Mom will. What you are driving also plays a part, a sports car or expensive to repair vehicle will cost more than a gently used family car would. A new vehicle verses an older one, for the same reasons. Then there are things like your credit history, and where you live; and the companies profit margin to consider. There can be more, but these are the big ones that you can count on as factors. I hope that answers your question, thank you for asking!