icandrive.ca Provides Tips to Understand the Top Factors That Affect Car Insurance Premiums
PR Web |
(PRWEB)
Calculating insurance rates is a complex process that requires insurance companies to take into consideration multiple factors, statistics, and of course their own company policies. This process is a big part of the reason why rates differ from company to company, and why by shopping around for the cheapest car insurance in
The Car
The type of car driven has a major impact on insurance rates. Some cars have lower rates, while others cost more to insure due to factors such as the value of the car, how expensive it is to repair that car, and the statistics regarding accidents in that type of car. Among the most expensive cars to insure are high-value luxury vehicles, high-end SUVs, and powerful sports cars. Some of the most affordable cars to insure are smaller, economical vehicles and cars with the highest safety ratings and lowest rates of theft.
Driving Record
Most people know that having tickets and accidents on their record will cause insurance rates to go up. Having demerits is the quickest way to watch your rates go up. But that’s not the only factor related to your driving record that can impact rates. The length of your record matters as well. Drivers who have been on the road longer are more experienced and less likely to have an accident. New drivers are more likely to make mistakes and have an accident; that makes them more expensive to insure because of the risk they represent.
Residence
Home address and where and how a car is kept at home have an impact on your rates. Some postal codes have lower rates of theft and safer streets where accidents are less frequent. Others may have high rates of theft, vandalism, or dangerous driving conditions. Where the car is parked at night makes a difference in car insurance rates, as does the area in which the car is frequently driven.
Driving Habits
Whether drivers commute daily and how far they go on that commute is a deciding factor in how much is paid for car insurance. People with long daily commutes are on the road a lot more than those who remain at home all day, going out only to run errands. A car used for commuting, especially a long commute, will have a higher insurance rate than a car that is used for pleasure or infrequently.
Insurance History
The length and stability of the auto insurance record
Qualified Discounts
About icandrive.ca
icandrive.ca has compiled a list of driving schools in addition to other useful driving resources including G1 practice test, Class 7 Alberta test,Class 7 Practice Test for
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