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What are some of the factors, which contribute to why I have a different car insurance premium to my friends?

April 26, 2017Car Insurance contribute different factors friends Premium

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What are some of the factors, which contribute to why I have a different car insurance premium to my friends?

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Car insurance premiums are calculated based on the level of ‘risk’ the insurance underwriters associate with you and your car. So simple factors that differentiate you and someone else contribute to the assessment of ‘risk’. Risk is primarily affected by the make and model of the car, the age of the driver’s and the driver’s history, as well as residence. For example, not all insurers treat each suburb the same. In addition where you park the car at night will often affect your premium. Your driving history and the frequency of claims are also considered carefully.