Using an Insurance Broker when shopping for car insurance can help ensure you are getting the best deal on your car insurance. There are many factors in determining how your car insurance is calculated. Those factors include:
- Your Age. Younger, less experienced drivers are more likely to have accidents then older, more experienced drivers. If you are under age 25 you may face higher insurance premiums.
- Do you frequently get in fender benders or vehicle write off collisions? Depending on the circumstance surrounding the collision, your car insurance premium will be calculated taking into consideration future risks.
- Do you have a heavy foot or diligently drive the speed limit? Traffic tickets (excluding parking and photo radar) can all attribute to your car insurance premium.
- Drivers Training. Taking a driver’s training course as a new driver can help teach you the rules of the road and also lead to insurance reductions.
- Vehicle. The type, age, kilometers and safety features of your vehicle will all play a role in determining your car insurance. The older your vehicle, the less costly it will be to repair in the event of an accident. Similarly, the more expensive your car is to buy, the more expensive it will be to replace in the event of a write-off or significant damage. Is your vehicle used for your daily commute, commercial purpose or highway driving?
- Theft Deterrents. Installing anti-theft devices that make your vehicle harder for would-be thieves to take may help reduce your car insurance premiums.
- Those individuals who use their vehicle for work and spend more time on the road may face higher insurance premiums. Depending on where you work, you may be eligible for insurance discounts. Talk to your Insurance Broker to see if your career or employer makes you eligible.
- Credit Score. Many insurance companies consider your credit score when calculating your insurance premiums.
- Do you live in an area with higher car accidents and thefts? If so, you may be charged higher insurance premiums. Your postal code may have a substantial effect on your car insurance
- When available, you can choose a higher accident deductible to help lower your regular car insurance premiums.
Your Insurance Broker can discuss how your car insurance is calculated and whether you may be eligible for insurance premium reductions based on the above factors.
If you ever have questions regarding your home insurance policy or coverage in general, contact Rizk Insurance today and we’ll help answer any inquiries you may have.