Low cost insurer Youi has revealed which factors may influence your car insurance quote. These include:
1) Parking: Where do you park your car? This factor could impact on your insurance quote. For example, if your car is parked in an undercover garage, your premiums can be slightly lower than if you parked your car out on the street. Because a car insurance quote takes into account a complex equation of risk analysis, the amount it will charge you to protect your assets will vary on how big a risk they perceive. If your car is parked outside there is far more chance that it may be damaged or stolen, and that the company would have to pay out for the costs. Similarly, the suburb or city in which you live can affect your insurance quote. Crime rates, insurance payout statistics and the size and density of the place you live can all affect the risk analysis your insurance company completes.
2) Driving History: Statistically the more accidents you have had, the more likely you are to make a claim. Thus your driving history is another aspect that can influence your car insurance quote. If you are looking for ways to improve your status as a good driver, some online insurers offer reduced rates for people who have completed a safe driver’s course, so you may like to look into something like that if your driving history is less than perfect.
3) Claims History: Like your driving history, the number of claims you have made in the past and the reason for those claims will be taken into consideration by your potential insurer. Many insurers offer incentives and ‘no claims bonuses’ for clients with a clear claims history.
4) Age and Gender: Your age and sometimes gender can be taken into account when an insurance company determines how much to charge you for a plan. This is not a matter of discrimination, but a matter of statistics, the bible of the insurance calculator. Because younger males are statistically most likely to be involved in a motor vehicle accident, insurers are more wary of this bracket than any other and will therefore raise premiums in order to protect their investments.
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