How New Brunswick Car Insurance Companies Set Rates

When you apply for New Brunswick car insurance coverage, the company considers several factors when deciding how much to charge. The level of coverage you need is one of them; you will pay more for a policy with a higher limit. You can save on your insurance costs by choosing a higher deductible, since insurance companies reward customers who are prepared to pay a higher amount toward a claim personally.

The type of car you drive also affects rates. If you are behind the wheel of an expensive model or your car tends to cost a lot to repair after an accident, be prepared to pay more to insure it. Sports cars are notoriously expensive to insure, so be sure to consider this fact before you decide to buy one.

Another factor that affects rates for New Brunswick drivers is how much driving you do. People who do a lot of driving during the year and those who use their car for business purposes pay higher rates than drivers who limit their annual mileage. You can save on the cost of your coverage by participating in a car pool or taking public transit whenever possible.

Your age, gender and marital status also affect how much you pay for car insurance. People under the age of 25 pay more for their coverage, with young, single males paying the highest premium rates. The pricing for coverage should drop for customers once they reach their mid-twenties.