The calculations used to derive the cost of your car insurance premium all stem from the factors believed to impact your future claims. In short, the car insurance company quantifies how much of a liability you are. And the riskier you are as a car owner, the pricier the premium.
Get the absolute best price on car insurance premium by knowing the factors that affect your premium charges.
Age
A teenage driver who has no prior driving record ends up with the most expensive tier-price on car premiums. Think again if you want to let the teenager in your household drive the car because it significantly increases your car insurance premium.
In the UK, teenage drivers are offered discounts if they go through driving training courses like Pass Plus. Another way to lower premium charges for teenage drivers is to restrict them to relatively safe cars like sedans.
In the US, drivers aged between sixty and seventy undergo competency evaluations so they can retain a driver's license.
Marital Status
Statistics show that married people, when behind the wheel, average fewer accidents than other population groups. Thus, married drivers receive less expensive premiums than single individuals.
Driving History
In the U.S., driving history significantly impacts the cost of car insurance premium. Traffic violations and the like can definitely increase your premium charges. Since careless drivers are risky and are more likely to be involved in vehicular accidents, they are offered higher premium charges than people who have spotless driving history.
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