Bow Valley is an independent insurance brokerage, which means we can compile, review, and offer the best auto insurance policies out there to meet the specific needs of our clients. To do so, though, we need to find out some basic details. When you’re looking for a quote, there are some common questions insurance companies ask to determine the premium. Here is a very brief sample.
1. Are You Currently Insured?
If you are a new driver, a relative lack of experience behind the wheel can pose a higher risk for insurance companies. This question also matters if you’ve allowed your prior insurance to lapse, or have been dropped by an insurer for some reason.
2. Who Are You and What Do You Do?
This question is derived from statistics. An older male with a long driving record is likely to receive a lower insurance rate than a 16-year-old male who has just gotten his license. The more experience you have on the road indicates less risk.
There are many discounts available for different types of employment, and so this question also comes with a lot of potential positives. Alumni of certain institutions can also earn you a discount.
3. How Much Do You Drive and Why?
This goes right to exposure to risk. If you commute long distances every day you’re more likely to be in an accident. Even if you always practice safe habits, there are other drivers on the road who don’t.
Calculating your mileage per year is simple. Assuming you bought your vehicle new, just divide the number on your odometer by how many years you have owned the car. If you acquired it used, minus the mileage when you bought it and perform the same calculation.
4. Where Do You Live? Does Your Car Have an Anti-Theft System?
These questions tell insurers where your car will spend much of its time and how defended it is. Where you live plays into your premium through auto theft and break-in rates, if you have secure parking, your commuting distance to work or school and in other ways.
5. What Are You Driving? Who Owns It? Number of Drivers?
It usually costs a little more to insure automobiles of higher value. And sharing your vehicle with anyone will also have an affect on your rates. But if you own your car outright, no matter what it is, you may have more flexible coverage options.
6. What is Your Driving Record? Past Claims?
Past claims and a poor driving record will have a negative affect on your auto insurance quote, so it’s best to avoid both. Serious infractions can remain on your driving record for insurance purposes from three. Drive defensively and be a better driver overall.
Ask Bow Valley About Ways to Save on your Auto Insurance
There are a lot of ways you can save on your auto insurance, but the first always is to be a safe and conscientious driver. Drivers with a clean record typically get the best rates; however, if you have a less-than-perfect record, we have access to insurance providers to help you get great coverage.
At Bow Valley Insurance, it’s our promise to find you the best auto insurance available. Working with a broker gives you access to auto insurance providers, and more options to choose from.