Car Insurance Brant

What factors determine the cost of Brant car insurance?

Insurers consider several factors when calculating insurance premiums. Believe it or not, your age, marital status, address, and the type of vehicle you drive can all influence how much car insurance costs. To better understand how car insurance is calculated, we’ve put together a list of the most common factors that determine how much Brant drivers will pay for insurance.

Driving History

There’s no denying that one of the most important factors in determining the cost of auto insurance is a person’s driving history. Driving history consists of a person’s driving experience, as well as their driving record.

A lack of driving experience gives insurers an excuse to raise your premiums because they believe that the less experience you have, the more likely you are to get into an accident. This is why young drivers typically pay the highest insurance premiums.

In contrast, having more driving experience may result in lower premiums, however, it must be paired with a clean driving record.

A clean record means a record free from tickets, accidents, and DUIs. The better your record, the lower your insurance premium will be. This is because a clean record signals to the insurance company that you are a safe and responsible driver who is less likely to get into an accident.

Alternatively, if your driving record is rife with demerit points, you are considered more of a risk and you will pay more for car insurance because of it.

Therefore, Brant drivers should always strive to have a stellar driving record, because if they do, they will likely be rewarded for it.

Age

From an insurer’s perspective, there is a direct correlation between age and driving skills. In their minds, the younger you are, the less driving experience you have, and the greater risk you pose to the road. This is why new drivers tend to pay the highest auto insurance premiums. Another age group affected is the elderly, with studies revealing that seniors tend to have slower reaction times than other age groups. As a result, elderly drivers in Brant, as well as other parts of Ontario, may be required to pay more for car insurance.

Location

Where you live and work will also determine your car insurance rate. Generally speaking, drivers who live in high-density urban areas, such as Toronto, are more likely to get into an accident since there are more vehicles on the road at any given time. In contrast, drivers who live and work in rural areas with less traffic are considered less likely to get into a collision and often have lower insurance premiums as a result.

Further, if you live or work in an area prone to climate related incidents, your car insurance may cost more.

Type of Car

The type of car you drive is another factor used to determine how much you pay for car insurance. The general rule of thumb is the newer and more expensive your vehicle, the higher your insurance premium. This is because newer, luxury vehicles are more likely to be stolen and will cost more for the insurance companies if they need to be replaced or repaired. That said, if your car is new but is equipped with certain safety features, the insurance company may take this into account and lower your rate.

The Number of Kilometres Your Drive

Lastly, the number of kilometres you drive is a factor that can influence your insurance premium. The more frequently you drive, the more your insurance will cost. For example, if you have a long daily commute during rush hour, or part of your job involves driving, then you will likely have a higher insurance premium.

However, if you rarely drive, such as only driving on the weekends or once a week to church, then an insurer may take this into account and lower your premium. If you’re an infrequent driver, be sure to speak to an insurance broker about your driving habits when shopping for auto insurance.

Marital Status

Marital status is another factor that can impact your insurance premium. Why? Data reveals that married people are more financially stable, which insurance companies believe translates to better driving skills. This is why, on average, married drivers tend to pay less for car insurance than single people.