Vehicle Premium Binghamton NY
New Paltz, NY
New Paltz, NY
New York, NY
Ozone Park, NY
Many things are looked at before your car insurance premium is decided? Have you ever thought why should it matter whether your car is paid off or not? And you own which companyâ€™s car?
Insurers exactly know how to earn profit from the insurance policy that they are offering you. The estimate of your premium is based on number of factors. Buy selling insurance policy to you what provider is doing is taking some risk of yours and paying you for it.
The factors through which providerâ€™s judge whether youâ€™ll cost them money or not, is you and your driving record. How safe you drive? Have you ever been involved in any accident? Even if itâ€™s not your fault provider will take this into consideration because although you were not involved in the accident still you have a higher percentage of having an accident after the first one. If you have learnt driving form a driving learning school, then you might be able to get lower rate.
You age is also taken into consideration; both very young and old people tend to have more accidents. Also your smoking and drinking habits are also taken into consideration.
Beyond the risk of accident, insurer wants to see how much damage will be done to a passenger in any accident. If you donâ€™t wear helmet then you have higher risk of getting seriously injured so your premium will be higher .Ironically, if a motorcyclist does not use a helmet that he might get a lower rate as he has higher chances of getting killed in an accident which would cost insurance company less .If you donâ€™t use a seat belt, if your car doesnâ€™t have safety devices like airbags, anti lock brakes then you might have to pay higher premium.
The place where you live also contribute to your cost .If you live in a theft prone area, if you live in city ,then your premium rates are expected to be higher.
Even, if you have a full coverage, insurance company will take into account variety of factors, how old is the car, model of the car, company of the car. Some companies also take into account the paint of the car and they also check specific carâ€™s overall accident record whether itâ€™s higher than average.
You should take into account all these factors and try to reduce your premium cost.
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Article Source: http://www.articlesbase.com/insurance-articles/how-car-insurer-decides-your-premium-820025.html