There are factors that affect the overall cost of your car insurance coverage and the rate you get.
Some of these factors are in your control and you can work around them to get more preferable rates. Other factors are not within your control and you have to live with them.
Insurance rates and policies differ based on where you live. To know more about UAE car insurance policy read RSA Guide.
- Age and gender
Women tend to get better rates than their male counterparts when they are younger. Younger males are known to be more reckless and are, as such, more accident prone.
The older you get, the more experienced you become, the less likely you are to cause accidents, hence the better the rates you will get. However, at a much advanced age, you will be charged higher rates in spite of all your experience.
- Residence
If you usually frequent high traffic areas on a daily basis, you are more likely to get into collisions and accidents involving third parties. Likewise, if you live across different cities and have to be on the highway every day, you are more likely to get into an accident due to fatigue.
Such factors will affect the kind of insurance rate you get.
- Occupation
Depending on your occupation, you could get rates that are higher than other people. If your regular routine involves driving from your home to the office where you pack your car indoors all day, you will get a better rate because your car is not exposed to too much danger.
On the other hand, if you are a field person and have to constantly be on the road, you will get higher rates.
- Your car’s safety features
There are some cars that are built with cutting edge safety features. Insurance companies look favorably on such cars as they are safer than other cars.
- The size of your car
Cars that are larger in size are heavier therefore withstand impact better. However, you will pay more if your car has higher engine power, whether it’s a large car or a small car. This is because your car has the ability to run at high speeds thereby endangering yourself and others.
- Cost of the car
The more your car costs, the more you will pay. If you are a first time driver, go for a lower-priced vehicle to give you time to acclimatize with how car insurance works.
- Age of the vehicle
It costs more to insure an old vehicle. An old car has gone through prolonged repairs and has suffered more wear and tear. This poses a higher risk to the insurance company as your car will most likely need replacing in case of an accident.
- Accident record
If you have a bad driving record, you will pay higher rates. You will feel the pinch if you have too many accidents on your record. Some insurance companies might refuse to insure you.
The above only serve as a guideline. To get the actual rates for your car, visit your car insurance provider for more accurate estimates.
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