Getting a car involves
a lot more than just choosing the best ride for your needs. For one,
you’ll have to consider having it insured, and while there are a
lot of possible insurance providers out there, there are certain
common factors that, whomever you may choose to do business with,
could nevertheless affect the rate that could be offered to you.
Credit Information
Your car insurance
provider doesn’t measure risk the same way banks or mortgage
lenders do, yet they both could make use of your credit score to
determine your premium. Many insurance companies have found that
certain information in your credit report can be used to determine
your likelihood of filing a claim in the future.
Car Make and Model
Many insurance
companies will also look at particular statistics regarding the
claims experience and frequency of the type or model of vehicle
you’re using. They will check how likely it would be that your car
will be involved in an accident and when it does get into one, what
the estimated cost of repairs would be.
Personal Driving
Record
Unless you’re a
first-time driver, this will be a major determining factor of your
car insurance premium. Aside from your personal involvement in
accidents where you were at fault, your insurance company will also
check the amount of time that you spent in driving classes, seminars,
advanced training, and the like.
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