There are many aspects that will affect the ultimate premium you will end up paying for your vehicle. Each is a statistic based criteria used by insurance companies to determine the level of risk you pose for them. The higher the risk associated with insuring your vehicle, the more you will pay to be adequately covered. Factors that will determine the coverage risk include the driver’s gender, distance driven per year, purpose of the vehicle - leisure only or commuting to work or using the vehicle for work, etc.
It is a proven statistic that drivers under the age of 25 are at a greater risk of being involved in an accident, than those drivers over the age of 25. Drivers between 50 and 65 are generally drivers with the safest records. It is only natural then that the insurance companies will adjust the premiums to suit the level of risk. While women are considered safer drivers, the trend is changing as more female drivers take to the road. Where the driver lives will also determine the premium, as areas with little traffic poses a smaller risk than congested cities and suburbs. One neighbourhood may also have a higher rate of vehicle thefts, which may cause a higher premium.
Having a record of a lot of accidents or drunk driving violations classifies the driver as a higher risk to insure, and will also very likely result in a higher premium. A cheap vehicle will cost less to insure than a more expensive vehicle would. The level of coverage you prefer determines premium you will pay. Insurers have in the past drawn a correlation between the occupation of the driver, and the level or risk associated with insuring him or her. A fast food delivery person will face a higher risk on the road than an office worker who only spends a few hours a day on the road. If the driver as an individual has a history of no claims for a specified amount of years, insurers usually reward their clients with a low premium. Adding a tracker system to your vehicle may be a short term out of pocket expense, but it may drastically reduce the quotes you receive from insurers. In the long run, it may benefit you more to invest in a tracking system for your vehicle.
Customers shopping around for an insurance company that will be able to offer them the best quote should compare premiums from different insurers. There are plenty of websites dedicated to providing customers with a variety of quotes from a lot of South Africa’s top insurers. All you will need to do is provide your information once and you will be provided with instant quotes that will enable you to make informed decisions regarding your insurance needs.
Author Resource:
For the best life insurance premium visit http://www.payasyoudrive.co.za .
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")