The
Factors Effecting Your Car
Insurance Premiums
There are several
factors
effecting your car insurance premium rate.
Insurance through
the eyes of
an insurer is about measured risk and the likelihood something is to
happen
based upon your current data. Premiums
will vary from person
to person and will be based upon:
The current use of
the vehicle,
risk increases with distance travelled which presents a higher
likelihood for
accidents to happen which drives up the insurance premium.
Gender, female drivers tend to
pay lower insurance premiums on their cars as the female accident rate
tends to
be lower statistically than for males. The
factor skewing this data is that more males work in jobs that require
driving
ie, couriering, truckdriving, taxi and bus driving, than women so the
probability for them in having an accident tends to be higher, which is
why
males pay higher premiums.
Age,
younger drivers under the
age of 25 tend to have higher incidences of accident than the general
population aged over 25. Under 25’s usually need
some type of 3rd party
insurance.
On the flip side, drives aged over 50 years
tend to have lower accident rates so their insurance premiums tend to
be less.
Where you
Live, some areas
are higher risk than
others and have an increased activity of car thefts, living in these
areas will
drive the cost of your premium up.
Those
residing in the country
will have differing premiums from those living in the city due to
amount of
traffic. The more traffic, the higher the risk of accident, the higher
the
premium.
You may be
paying too much on your current premium, if you want to
get comparative quotes to get the best possible deal for you then can
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