When it comes to car insurance, you need to understand how much you should be paying for it. There are reasonable prices and bad prices, but the truth is no insurance company will charge the same amount because a variety of factors come into play. On average, statistics show that Albertans pay $114 for car insurance in a year.

Cost Factors of Auto Insurance

There are a few factors that your Calgary insurance company consider into the cost of your insurance. First, they will look at the frequency of vehicle collisions in your area. In doing this, they can assess the risk you present in filing for compensation. They will also look at the density of deer in your area, and the frequency of collisions with wildlife as this also plays a role in the rates from your Calgary insurance company. In addition, your insurance brokers in Calgary will look at how many car accidents you have been involved in and assess the risk from there.

The Role of Age, Gender and Marital Status in Car Insurance

There is a link between age and experience. Often, drivers with less experience cause more accidents than experienced drivers. For that reason, your Calgary insurance company will raise the premiums on younger drivers.

Gender also plays a role because males have a higher likelihood of accidents than females, which causes the car insurance Calgary company to raise the rates for men.

Interestingly enough, marriage also plays a role in insurance rates as married drivers have a lower likelihood of getting into accidents.

The price is determined as a result of insurance brokers looking at the data to identify the riskiest drivers to insure. The higher the risk, the more you will pay. When looking at auto insurance, you should shop around to look at the different prices and get a better idea of what your rates will be.

Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].