In some states, drivers get auto insurance quotes without hassles but in Canada, that isn’t the case. Auto insurance companies in this part of the continent consider certain determinants before issuing a quote. In the best way possible, we will be unraveling the vital factors that determine Canada’s auto insurance quotes.
Your Driving Record
As a driver in Canada, the driving record is your gateway to getting affordable auto insurance quotes. It is the first piece an insurer unravels. How much or how less you pay for your auto insurance is dependent on this. If you’ve been reckless on the wheels for the past three years or more, you’d sure be having a ticket or two for careless driving. Therefore, it won’t be anyone’s fault that your yearly premium is charged beyond normal.
The Driver’s License
Some drivers boycott the recognized driving centers provided them by the government and acquire their driver’s license through some other means. Well, whether you take the recognized driving course or have a fake driver’s license, this is where it speaks for you. How expensive or how cheap your insurer decides to charge you for the yearly premium is dependent on these factors. So, choose wisely.
Your driving location is another factor that determines your insurance quote. If you drive in major cities like Toronto, the tendencies of paying more for your insurance quote is as sure as the break of the dawn. This is because of the higher incidents of car thefts, gridlocks, and accidents that happen on major city roads.
How Much You Drive
This factor is largely reliant on the number of hours you spend driving. As there are higher insurance quotes based on your driving locations, so there are, for the number of hours you spend on the steering. Accidents and car theft are a major reason why the insurance company skyrocket insurance renewals. Therefore, to pay less and save more, consider checking the number of hours you spend driving and the areas you drive to.
The Vehicles Model and How Long You’ve been Driving it
The market value for most commodities is not the same; this is the case for most insurers. They make additions and subtractions beforehand so in the case of damages, there won’t be surprises. Insurance companies charge you based on the model of your vehicle and how long it has been on the road. For sports cars and newer vehicles, the auto insurance quote is way expensive compared to older automobiles.
The Age of the Driver
The driver’s age is another factor to consider when you are talking about auto insurance quotes in Canada. Insurance companies give a massive discount on auto insurance quotes when you are above 24 years. As a result of the massive discount, many teenage drivers look forward to reaching the milestone age to enjoy driving benefits and also pay less for it.
The Gender of the Driver
In some provinces in Canada, the female driver is given a flexible opportunity. Auto insurance companies in Ontario abide by the rules of the Financial Services Commission of Ontario (FSCO – a body that recognizes the female driver). The female driver in this part of the province gets the benefit of paying lower auto insurance quotes compared to their male counterpart.
This is another factor that favors the female driver. It is a couple’s world after all. How best can we say it? Most married folks are considered safer drivers in Canada. For this reason, they are given a reasonable discount for their auto insurance quotes. However, not all insurers believe nor work with this principle. So, they accord both male and female drivers yearly premium charges that are due to them as drivers and not based on gender frivolities.
Deductible charges are the amount you pay in the event of a claim. When deductible charges are lower, your premium tends to be on the increase. Your insurer is likely to raise the deductible in your insurance if you’ve made several claims within the year. If otherwise, then reverse is the case.
The Type and Amount of Coverage
Whether standard or optional, the more your coverage is, the higher your auto insurance quote. However, the good thing about this coverage plan is that you can customize it to best suit your needs. In this regard, you may add up more third party liability coverage or collision and comprehensive coverage.
Knowing these vital factors is important and for many drivers out there, the best way to save on your auto insurance quote is to shop around, compare and ask insurers about the best discount platforms.