Factors That Determine The Cost Of Your Car Insurance Premium

Car insurance is a necessary requirement that you are required to always have. However, the fact that it is a legal requirement does not mean that you should always go for the most affordable option. You should remember that insurance is meant to protect you, your car and your loved ones from claims as well as repair costs. Therefore, the goal when shopping for the ideal option should be to find the right insurance, which is affordable for you. Some of the things that affect the cost of your insurance cover include:

Risk factors: You should always remember that is a matter of risk. The riskier you are deemed the costlier the cover will be. When quoting the premium, insurance companies use several factors as the measure of risk. Generally, the younger you are, the higher the premium. Men are also considered riskier than women as they are more likely to make an expensive claim. Another factor that affects the cost of your premium is the car you are driving. Costlier cars will attract higher premiums.

Reward programs: Most insurers have programs that seek to reward careful drivers. However, to qualify for the program, you must build up no claims discount. Some of the most rewarding programs can even offer a 75-percent discount if you manage to get up to five years without a claim. If you feel that your current insurer is not rewarding you competitively, you can transfer your credit to a different insurer and hence, the need to be always looking for a better option.

Type of insurance: The insurance you choose will also affect the premium. The minimum legal requirement is the third party insurance coverage that pays for the damages sustained by a third party, their property and their car. The third party insurance will not pay any repairs to your car. The other common type of vehicle insurance is the third party and theft car insurance. In addition to the third party cover, the insurance covers your car in case it is destroyed by fire or stolen. The other type is the fully comprehensive cover that offers extra cover.


When choosing the best cover, it is important to compare what different insurance policies cover as well as their price. What is a standard cover in one insurance company may not necessarily be what is offered by another company. If you are looking to save money, you should avoid the extra options that do not need as they can tremendously increase the cost of your cover.

How Self-driving Cars Will Transform The World

While it’s easy to take automobiles for granted today, very few people actually realize how much they changed the world. To say the least, cars created mobility on a scale that hadn’t been witnessed before the dawn of the 20th Century. As gaps between geographical communities started to diminish, social and living habits changed tremendously. And with driverless vehicles now nearing the live phase, it’s safe to say that modern society is in for another dramatic transformation.


The Time is right

More and more car Winnipeg Cadillac manufacturers are now showcasing their autonomous automobile technology, with some aiming to incorporate the functionality into upcoming models. While not much about these technologies has shifted from what one could see at the demos of the early 2000s, a lot has actually changed beneath the surface. In fact, industry experts state that fully autonomous cars could hit the market by 2020.

Why So Soon?

Although skeptics will claim that many obstacles currently stand in the way of driverless cars, mass adoption will kick off sooner than most people think. This is mostly due to the lack of capital costs. With other revolutionary technologies, adoption tends to be slow, since the majority of consumers take time to get to a purchase point. In future, however, there will be very little incentive to actually own a vehicle. This is because driverless cars have the potential to improve transportation in many ways, such as:

-Enhanced road safety: It’s been estimated that over 50% of all car crashes are caused by human error. Self-driving automobiles have the potential to eliminate this factor completely, as long as they’re properly equipped.

-Better mobility for everyone: Individuals who can’t drive are often forced to rely on public transportation, which can be quite unreliable. With autonomous cars, everyone (think young children, disabled individuals, or those who can’t drive for any reason) will enjoy the benefits of improved mobility.

-More free time for motorists: With your car taking care of the driving, you’ll be free to make the most of the time you spend travelling. Furthermore, traffic congestion will be eliminated when driverless cars become the norm, which means it will take people less time to travel.

-Motoring will become more sustainable: Since driverless cars are designed to optimize efficiency when in motion, they will boost fuel efficiency and cut down on carbon emissions by a significant margin.

Like with everything else, there’s a handful of pros and cons of self-driving cars. So despite the wealth of opportunities they present, autonomous vehicles have a few drawbacks, including:

-The potential to be hacked: Electronic devices are vulnerable to attacks from hackers, and driverless cars are no different. And should such a vehicle be hacked, passengers won’t have much of a chance to correct any errors.

-They rely on sensors: Sensors placed all around the car are what feed the central control unit with vital data. So what happens when one or more sensors breaks down? Does the car proceed with the journey, or will the passengers have to find an alternative?

Still, experts believe that most of these concerns will be eliminated with better analysis and experience. And as vehicle manufacturers continue to perfect their creations, the rest of the world needs to get ready. As such, local and national authorities will have to overhaul existing infrastructure to make it friendlier towards self-driving cars.