A common sight living in a metropolis like Calgary are busy cars, going here and there to connect to communities across the city. With that being said, more cars ultimately mean a higher demand for car insurance. In which case, it’s imperative to seek out affordable car insurance rates that can provide you with the best coverage. 

However, some factors can affect your car’s insurance rate. By keeping in mind what can affect your car’s insurance rate, you can effectively strategize ways to lower your rates and avoid unnecessary issues down the line. 

Type of Vehicle

Did you know the type of vehicle you choose can dictate car insurance rates? The reason is to determine what vehicles are susceptible to more claims and their cost. The Canadian Loss Experience Automobile Rating (CLEAR) is a system that insurers use to help determine rates by factoring in claims data, your car’s model, and its year. 

This system can see the likelihood that your car is a target for theft based on where you live. As a result, the cost of repairs will be higher after it’s been in a collision. 

In addition, any cars with higher quality safety equipment can contribute positively to lowering your car insurance rates. By opting for a safer car, you’re not only helping yourself but your wallet as well. 

In which case, it’s wise to think twice about what car you might want to purchase in the future. 

Driving History

The literal driving force behind what can affect your car insurance rate is your driving history. The more issues found within your driving history, the more you will likely have to pay for car insurance. 

Beyond collisions and claims, other factors can impede your car insurance rate in drastic ways.

Here are just a few of what can impact your rate:

  • High speeding ticket
  • Careless driving 
  • Distracted driving from either texting or talking on the phone.
  • Not following traffic laws such as: stopping during a red light, not obeying school crosswalks and stop signs, as well as not wearing a seatbelt. 
  • Not remaining on the scene of a traffic collision.

Driving Experience 

One key factor insurers look out for is how long a driver has been on the road. If you’re a new driver, there is a high likelihood that your insurance rate will be higher.

Why is that?

An inexperienced driver can easily get into accidents from an insurer’s standpoint. Therefore, heightening the possibility to file for claims. If you’re a new driver, the best you can do is to avoid all accidents and claims for a couple of years, and then you will be in the clear for less expensive insurance rates. 

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].