Before you hit the road with your new car, it is essential that you insure it. Without an insurance coverage, you will be in serious legal trouble because it is mandatory and if an accident happens, you will have to foot the bill for damages.
Buying new car insurance is best in protecting your assets especially if you are a high-risk driver. The Australian government requires that you are fully registered and insured before you can start driving on roads. There are plenty of companies selling insurance products with different car insurance quotes; hence you should purchase a good plan.
The cost of your premium lies on the risk that the provider sees you posses and the likelihood of you filing a claim. Many Australian insurance companies have a variety of measures to determine the risk while using data like population statistics and your behavior.
Some of the factors that can determine the car premium that your insurance will have is your age. In Australia only, those in 17-25 account for more than 20% of the road fatalities in the country according to the Transport and Regional Economics. If you are under 25 regardless of how safe you drive, the insurance provider will base their premium on how much of a risk they think you are.
A driver’s gender can also affect the average premium. For instance in NSW, a difference of more than $100 average annual premiums between male and female drivers of the range of 25 years. The male drivers foot the more massive bill because women are seen to be statistically safer than men.
Your driving history and experience behind the wheels will determine how expensive your premium will cost. A history of speeding, violating traffic rules or driving while intoxicated, will make you be perceived as a high risk for the insurance company.
