What are the factors that affect car insurance rates?


Owning a car is not that easy, especially that one’s life is at risk, there are lots of considerations that a car owner and a seller must agree upon buying a car. Insurance is a number one priority of car sellers, not only that it covers some of the damages that may be inflicted by the owner to the car, but also it assures the owner’s life by collecting amounts. Given that teenagers demand their parents every after special occasion, parents need to equip themselves with ways to look on car costs and insurance rates.

It seems that after these special events, parents have no choice but to give what their children want. From this, parents must know of the following tips that will ensure safety of their children and protection of their wallets. There are ways to lessen the rate of premium of car insurance.

First, and the most convenient way is to canvass all insurance companies and choose one that best fits your savings. Conversely, there are some instances that other parents or teenagers might not have the same offer of price from a single company. Some company offer cheaper rates to their buyers because of the following reasons: location of the buyer, driving record, gender, type of vehicle, and coverage of the insurance.

Parents must consider the proximity of the car company and their house. This is a factor as the company decides on how far the insurance will go. Teenagers driving record are also taken into account. More often than not, good drivers were highly favored by companies in giving good discounts. This tells that parents must train their children and impose consequences and sanctions before driving begins.

Cheaper rates and discounts are acquired by females rather than males. Aside from the statistics that male teenager drivers have one and a half higher mortality rates than the female drivers, male drivers can be distracted much easily, also they tend to be arrogant on the road. Thus, for the son’s car, parents must choose old and heavier cars. This lessens the recklessness and heightens the patience of drivers. Also, logically speaking, higher horsepower of the car makes it advance resulting to higher cost of guarantee.

Lastly and obviously, if parents only want to ensure medicine bills or hospital bills then they tend to pay higher rates than those parents who only care for their children’s car insurance.