Edmonton What Affects Car Insurance Rates



What affects your auto insurance rate?

Reducing your insurance rate

The best way to reduce your insurance premiums is by being a safe driver and avoiding accidents and traffic tickets. You can also take a driver's training course (especially if you are under 25). You can get a better rate if you happen to own a car that is cheap to insure. This can happen if the car model suffers little damage in an accident, if it's not popular with auto thieves, and/or if other drivers of that car are less likely to get into accidents.

You can also lower your premium by choosing a policy that has a larger deductible. This is when you pay a specific amount towards the cost of car repairs when you have an accident. The higher your deductible, the less likely the insurance company will pay amounts in a specific incident, resulting in lower risk (for them) and lower premiums. You must balance a higher deductible with the requirement to have that amount available should an accident or theft occur. Also, keep in mind the deductible applies to each incident. If you have a $1,000 deductible for theft and your car is broken into or vandalized two nights in a row, you may need to pay $2,000 toward the total damages to your vehicle and contents.

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