There are a number of factors that determine your car insurance rates in Grande Prairie. Here’s are some to consider:
Your licence level: Not having a full licence will cause your premium to be higher. Conversely, having a full licence has a positive effect on your car insurance rates. New drivers looking for car insurance in Grande Prairie should expect higher rates due to this.
Your mileage: How much you drive every day is another major contributor to what you’ll pay for auto insurance. Someone that drives 30-45 minutes to and from work each day will pay more in car insurance than someone who only uses their car to run the occasional errand.
Your postal code: Insurance companies determine your rates partly based on the postal code region in which you live. If your area generally has a higher concentration of claims, you may find yourself paying higher rates than people living in the next postal code over.
Your driving record: Your driving history is another factor that will weigh heavily on how much you pay for car insurance. Someone with an accident or multiple tickets on their driving record will pay more for insurance than someone with a clean record, as they’ll be deemed higher risk. Having little driving experience (less than 10 years), previous claims, or driving convictions (or a combination of the three) will push your car insurance rates up. For this reason, car insurance rates for high-risk drivers in Grande Prairie will be higher than the average rate.
Your age: Like it or not, the younger you are, the more you’ll pay in car insurance (until you’re about 30). This is because you’re considered a high risk driver until you’ve built up enough of a driving history to demonstrate the opposite. There isn’t much you can do about it, but at least you’re not alone. Young people across Canada contend with higher auto insurance rates than the more experienced drivers they share the road with. This is another reason insurance companies are hesitant to give new drivers in Grande Prairie a cheap rate on their car insurance.
However, being young isn’t the only way age can impact your car insurance rates. Adults between the ages of 50 and 70 get some of the lowest car insurance rates in Canada. If you belong to this demographic, you probably have a long history of being insured and you might even have bundled your home insurance policy with the same provider as your auto insurance. After age 70, though, you might see your rate begin to creep up because people in this age group are statistically more likely to need to file a claim and need longer to recover from an injury. Car insurance rates for seniors in Grande Prairie may be higher than average for drivers above 70.
Your policy: How much you pay for auto insurance is impacted by how much coverage you buy. There are a number of different policies to choose from in Grande Prairie, but everyone in Canada is required to have at least a basic level of car insurance.
Your insurance history: In addition to having a poor driving history, your insurance history can also play a role in determining your rates. If you’ve filed multiple claims or have a history of missing payments, you may be given a higher rate. Furthermore, new immigrants who need car insurance in Grande Prairie may also face challenges because they have no Canadian insurance history at all. However, the fallout from this can be mitigated if you can provide proof of insurance from your previous car insurance company.
Having a consistent income: Having a regular source of income indicates to insurance companies that you’ll be able to make regular payments. This is also why students who need car insurance in Grande Prairie may face challenges securing an affordable rate.