Car insurance is necessary for every car. It protects the car from all possible losses which arise from natural disasters, accidents, and fire accidents. Every car owner takes car insurance, but later they suffer from their car insurance premiums, because the car insurance premiums are influenced by many factors. Here are few factors that effect car insurance premiums.
-
Gender: More often the car insurance premiums are effected by the gender of the car owner. Most of the times, premiums are high for male drivers as compared to female. Women are considered as safe drivers than men in general and also there are less number of women drivers.
-
Age: It is one of the most important factor when it comes to car insurance. Statistically proven that, drivers younger than 30 years are more risky drivers, when compared to the drivers having age between 30 – 65. Therefore, the premium rates are high for the young drivers than older.
-
Marital status: Married people usually take less risk while driving. But, when it comes to unmarried people, they take much risk while driving.
-
Driving record: A good driving record reduces the premium rates. If your driving record is clean, that means if it is without speed and traffic violation or no accident record in the past driving, then you can get lower premiums. Even, if you had an accident several years ago, it can still influence your rates.
-
Car model: The model of the car you drive also plays an important role in premium rates. Your car safety features, speed, engine power, theft rates and repair costs will influence your car premium. As a rule of thumb, the more expensive and powerful your vehicle is, the more you will have to pay for car insurance.
-
Occupation and education: Your level of education and occupation will also influence on your premiums. It was statistically proven that persons with higher education and good occupation are less likely to cause an accident, than the person who is uneducated and unemployed.
-
Yearly mileage: The number of kilometers you drive per year can also influence your car insurance rates. If you drive less, then you typically have a lower risk of ending up in an accident. And respectively if you drive a lot then your premiums go higher.
The above ones are the various factors which influence the premiums of your car insurance.