How Infiniti insurance premiums are calculated
Calculating insurance premiums is a complex business. Insurance companies consider a wide range of factors, some of which are within your control, like your claims history and driving record, and some of which are out of your control, like your age, gender, and location. Plus, insurance providers don’t weigh these factors equally, so quotes from multiple insurance companies are unlikely to be the same. This is why shopping around and obtaining multiple quotes is crucial to finding the most competitive car insurance rate (and BrokerLink can help!). To learn more about the most common factors influencing how much you pay for Infiniti car insurance, keep reading.
Age
Age is one of the top factors used to calculate insurance premiums. Young drivers typically pay the most for car insurance since they have minimal driving experience. Conversely, seniors, who often have decades of driving experience, may also pay more for car insurance because the data reveals drivers over the age of 60 are more likely to get into accidents.
Location
When calculating your insurance premium, an insurance company will ask for your address. This helps them gauge where in the country you will be driving your vehicle. Infiniti drivers that live in busy metropolitan areas like Toronto, Montreal, or Vancouver, typically pay more for insurance. Traffic is usually higher in populous areas, which increases your odds of getting into an accident, especially if you drive during rush hour. In contrast, Canadian drivers who live in rural parts of the country may pay less for car insurance. Finally, if you live in a part of Canada prone to climate related incidents, your insurance premium may also be affected.
Driving experience
Driving experience is another factor used to calculate insurance premiums. Generally speaking, the more driving experience you have, the better. The reason young drivers pay such high premiums is that they have little to no experience behind the wheel.
Driving record
An insurer will also ask to see your driving record. From a driving record, an insurance provider can assess your risk level. The cleaner your driving record, the safer and responsible you seem, and the less risk you pose. Conversely, if you have a poor driving record filled with speeding tickets, DUIs, and accidents, then you may be deemed a high risk driver and your insurance may cost more accordingly.
Infiniti model
The make, model, and year of the vehicle you drive is one final factor used to calculate car insurance rates in Canada. The rule of thumb is the more expensive the car, the more it will cost to insure. This is because the cost of repairs and parts on expensive cars is typically higher. Since Infiniti is a luxury vehicle brand, most models tend to be more expensive. However, there are significant price discrepancies between models. For example, insuring a 2022 Q50 may cost less than insuring a 2022 QX80, which retails for almost double the price.
