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Statistics and Car Insurance Premiums

Your Car Insurance Premium is affected by statistics

There are no set car insurance premiums as dozens of factors have an effect on the calculations thereof. Every insurance company has their own unique practice to determine your premium.


The Car You Drive

Higher priced cars cost more to insure than a car that costs notably less. As you may know the excess amount you choose, has a considerable affect on the price of your car insurance premium. A low excess converts into a higher premium.

Your Driving Record

If you have been involved in various car accidents, particularly if you caused some of the accidents, car insurance will definitely cost you more than a person with an accident-free driving record.

Where and How Much You Drive

Factors that have a sure affect on you premium amount, is your neighborhood and where you park your car overnight. A lock-up garage is naturally a safer place to park your vehicle, than a open carport. Metropolitan areas typically have more accidents and incidents of theft and vandalism than the more rural areas, resulting in possible higher premiums.

A person who travels 50 kilometers a day will definitely pay a higher car insurance premium than someone whose travels only 10 kilometers, as the further you travel the bigger your exposure to risk and accidents.


Your age, gender and your marital status are all factors influencing your premium. Fact is that drivers under 25, and specifically unmarried men, will typically pay more for insurance. Adding a teenage driver to your car insurance policy will definitely have a notable affect on your car insurance premium.

Good or bad credit ratings

More and more Insurance companies also use your credit rating and credit history when calculating your car insurance premium.




Ref.: http://www.allstate.com/