Car owners in Vancouver are often baffled by the different factors and attributes which determine the premium calculation of their auto insurance. The cost of insurance is generally calculated on the basis of certain interwoven factors, which make the process a confusing and difficult one. Given below is a short insight into some of the vital factors which have an effect on the rates of
auto insurance Vancouver.
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Driver's Age: After conducting exhaustive research procedures to analyze the general habits and behavioral traits of drivers across the Province, insurance companies have come to the conclusion that younger drivers are comparatively more prone to accidents and traffic violations than their older counterparts. The age of "driver maturity" is often quoted at 25 years and this is the age from where the rates for auto insurance start dropping dramatically.
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Driving Record: It is an obvious fact that the rate of premium is directly proportional to the number of traffic violations and accidents associated with the driving record of an individual. Better drivers, who have fewer or negligible claims or accidents to their name every year, are assured of better rates than those who get involved in traffic issues more frequently.
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Location: The rates of
auto insurance Vancouver is also dependent on the residential address of the vehicle owner. For example, people located in areas prone to higher rates of vandalism, theft and anti social activities, are quoted higher auto plan rates in comparison to those who reside in safer neighborhoods. Addresses which fall in high risk areas or those easily affected by nature's fury in the form of a tornado, flood, earthquake, hail storm or cyclone, are also liable to attract higher costs of insurance.
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The Model and Make of Vehicle: Vehicle owners are often baffled by the fact that higher end and newer models end up fetching higher rates of premium for insurance companies. According to laymen, these more sophisticated models have better features and attachments to alleviate the risk of crashes and accidents; then why should they attract higher rates for their owners?
Well, whatever the reason, auto car insurance rate is definitely affected by the age, model and make of the vehicle. For example, sports car owners often end up paying astronomical amounts for insurance, as their vehicles are more liable to violate traffic norms and have higher incidence of thefts and breakages.
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Other Factors: Some other minor factors which affect the rate of auto insurance are the distance travelled by the car, the frequency of usage, number of family members driving the vehicle and so forth.
The rates of auto insurance are dependent on a variety of pointers and buyers are advised to carefully analyze their own driving attributes and other relevant factors before requesting a quote.
