Risk N Premium
75 Main Street E, Suite 16 L9T 1N4 Milton, ON, Canada

What do new G2 licensed drivers under 25 years age also called as High Risk drivers need to know........ All new drivers would like to ideally have the cheapest premium, though they really may not qualify for that. It is not always easy as a new driver to get the best premium. This prompts new drivers to quickly run online to shop on google using key words as low premium, cheap premium, best premium, get me the best price, get me the best rates, I am looking for cheapest p...remium etc, etc. This might sound initially motivating, but mentally exhausting and disappointing. This is the point where they should stop and consult a broker, who has the professional knowledge to help them get prices from various markets and help place them with best coverages, best premium. At Pacific Insurance Broker Inc., we do all the shopping for our clients, while assuring them each and every time that best coverage, lowest premium and peace of mind is our mandate. If you are newly licensed G2 and under 25 , do not be worried. Just beware that your premium will be higher than you expect. You don't have to worry that you cannot find a company that will not give you an affordable price. There are always company's competing against each other to offer low premium, lower premium or if not the lowest premium. Competition is the essence. Be aware of the following restrictions and always be diligent: You cannot drive between 12 A.M and 5A.M You cannot drive on high speed freeways You must have blood alcohol of zero Between midnight and 5 A.M they are limited on the number of travellers under age of 19 The number of seat belts in the vehicle is the number of passengers they can carry If your parents have a policy you can ask them to have you added on to it, so that you can save on premium. For those looking for great rates, here are some suggestions: If you are going to school maintain high grades. Insurers see that as being responsible Initially purchase an inexpensive vehicle, so you can get lower premium Always maintain clean driving record Opt for the telematics program which companies offer. It helps to get lower premium Ask your broker to confirm if these really help: Driving record How much you use the vehicle Where you park the vehicle Year, make, model of the vehicle Your Age Your Sex The limit of coverage you choose to buy The driver training certificate Now that you have understood what it means to be a G2, make your next move to G. See more

Variables that influence Auto Insurance Rate..... What Discounts are offered to drivers....... Often times the layman is faced with challenges of understanding what is a risk. He questions what is relationship between a risk and premium and how do insurers assess the risk while measuring it's premium worth. In simple words, my coined phrase and also my website name Risk N Premium are interchangeable. Risk without Premium has no fruit and Premium without Risk has no root. Risk... can be related to anything eg. Automobile risk, Property risk, Liability risk, Standard risk, Non standard risk Now let us get to the automobile risk. There are many variables that Insurers consider to develop pricing eg. company size, objective, the vehicle, the driver . The actuarial department works the base price. Though the variables remain the same across the industry, the base price arrived by each company's actuarial department may vary. Luckily, various discounts used by each company helps to keep pricing at levels that will help them run business profitably. Organizations direct attention on the type of client they would prefer, the niche they like to focus on, the tolerance for drivers they wish to take (which could be good or bad), their window for loss experience of drivers they wish to accept and finally the ROI These Underwriting factors also influence rates: Driver driving experience Vehicle usage Vehicle type Location you live Annually driven Kilometers If you are accident free The number of tickets you have If any cancellation for non-pay To attract clients, companies come up with novel discounts, but over time in trying to keep up with competition, each company offers the same discounts that competitors offer to clients. Some of the common discounts offered are for .... Multi Policy Multi Vehicle New Car Student Safe Driver Driver Training Some others discounts offered are for ..... Hybrid/Electric vehicle Retired Person Claims free Continuous Insurance In summing up, it is not the fault of companies charging the premium that seems high for all drivers of vehicles including high risk drivers. The above factors drive the logical pricing decision for each company that insures all our vehicles. See more