If i am not mistaken, how car insurance premium is calculated is based on a few factors as such:1) Age group, typically at our age, it is pretty expensive. The older the cheaper.
2) Driving experience, which actually means the number of years since you get the license and not the actual driving years of experiences. The longer the cheaper.
3) Gender, I heard female cheaper??
4) Your car's year of manufacture, the older the cheaper.
5) Occupation, cheaper if your job doesn't require you to travel alot.
6) Etc.. (Add on to this list?)
With regards to point 1 and 2, is it thus possible to buy your car using your parent name, in an effort to get the insurance, which covers whole family, at a lower premium?
On point 3, shouldnt females be more expensive? WAHAHA. :x Point 1, 2 are interesting. Imma check with my colleagues if Jere have no idea.
ReplyDeleteOur age group is very much more expensive, I paying abt 800 more that my dad($1800). but that includes no claim bonus my dad has (he has 50% off and is paying 1000 a year).
ReplyDeleteJere why didnt you do the JH thing? I think it sounds very exploitable.
ReplyDeletewats the JH thing??
ReplyDeleteBuy car (insurance) under dad's name
ReplyDeleteIt is under his name...maybe i din word myself properly...
ReplyDelete