Such a calculator asks a number of questions; Each response is used as a variable to create quotes and determine the reward fee. The questions can be divided into two main categories, including vehicle-related and personal information. Some of the most common questions you see in the Car Insurance Estimator are listed as follows:
1. What is your age or date of birth?
Age plays a role in the overall estimate. The insurance company considers very young and older people to be high-risk drivers. The former group is likely to lack experience, and there is a high probability that young drivers will violate some traffic laws, commit violations such as speeding, etc. The latter group likely has some limitations in terms of vision, hearing, and driving skills, which means that the likelihood of being involved in an accident is also increasing.
2. What is your profession?
The car insurance estimator uses the occupations of drivers to calculate accident rates. There is a statistic that suggests that certain professions such as doctors, real estate agents, lawyers, business owners, and salespeople are considered stressful jobs. Insurers believe that stressful jobs affect the focus on driving. The Cal insurance calculator can determine a higher insurance fee based on this factor.
3. What kind of car do you drive?
The car model also affects insurance rates. The auto insurance estimator can treat luxury cars like the more expensive assets to insure. In case of accidents, vandalism or theft, repairing a luxury car is more likely to cost compared to its cheaper counterparts. Sports cars with high top speed and fast acceleration rate are also quite risky to insure, so insurance companies tend to charge more for such vehicles.
4. How many cars should be insured?
The good thing is that the more cars listed in the same insurance policy, the more discounts you’re likely to get. The discount is based on the bundling option, so you are entitled to other discounts if you insure your home, health and life with the same company as well.
5. What is your address?
The car insurance estimator uses your address to determine if you live in a specific area where the crime rate is considered high. You’ll have to pay more to protect the car if you live in risky cities.
6. How many violations of your logbook?
The driving record is a piece of evidence in which DMV lists all the previous accidents you were involved in, traffic violations, and every traffic ticket. The insurance companies use the data to determine whether you are a low-risk driver or a high-risk driver.
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#Car #Insurance #Estimator
Wendy is now a financial analyst and writer. Wendy has been writing about finance and personal finance since she was a sophomore in high school. She has also been writing for several online publications and published in The Huffington Post, and Forbes Woman.
Wendy is a credentialed financial analyst and has experience working with financial institutions and businesses. Wendy is also a certified financial planner. When Wendy's not writing, she enjoys tending to her many plants, watching TV, and spending time with her family.
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