We consider a number of rating factors when we calculate your car insurance premium. These factors help us estimate how likely it is that you'll make a claim, and how much it could cost. Some are within your control, while others aren’t.
Here’s a breakdown of some of the key factors we look at to get your price:
- Your vehicle: Your car’s year, make, and model will impact your rate. Some cars are more likely to get stolen, and some are more expensive to repair.
- Your postal code: Where you live plays a big part in how much your car insurance costs. It’s usually pricier in urban areas, where there’s a higher risk of car theft and vandalism. Plus, busy roads mean it’s more likely you’ll get into an accident.
- How much you drive: All insurers ask how much you drive, and if you have a daily commute. That’s because the more kilometres you’re clocking, the higher the risk of an accident – and
accidents can impact your premium . - Your claims history: It pays to be a claims-free driver! Zero claims means a more affordable premium, but have an at-fault accident and you could see a rate hike.
- Your driving record: Generally, the better your driving record, the lower your premium will be. Both major and minor traffic convictions will hike up your car insurance rate (which is why it pays to drive safe).
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- Your age: More driving experience usually means you’ve refined your safe driving skills – something every insurer likes to see. If you’re a younger driver you can expect to see higher premiums. Once you hit 30, you’ll generally see your rates take a dip – as long as you stay claims and conviction-free.
Other factors are simply out of your hands, including changes to government regulations, inflation, and the rising costs associated with injuries and car repairs.
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