Car Insurance Articles

Where You Park And The Effect It Has On Car Insurance

2009-11-25

Most people know that numerous factors play into car insurance rates, but most folks think those factors stop at what type of car you drive and your driving record. The truth is that where you park your car can have a major impact on how much you pay for your car insurance. You car insurance company determines your car insurance policy based on information about your car, driving history and lifestyle. These factors all come together to determine how likely the insurance company is to have to pay out on your policy. If the company feels it is likely to have to pay out based on these criteria, then your car insurance rate is higher.

Parking your car during the daytime affects your car insurance rate because of the chance of theft and accidental damage. If you parallel park on a busy urban street, then you are likely to have a bump-and-scrape accident with parallel parking. You also may be at risk of your car being collateral damage in an accident. Being able to park in a garage while you are at work is better for your car insurance. If you park in an assigned spot or in a limited-access garage, rather than a public one, then your rate will be lower than if you will be fighting with others to park each day.

Once you get home from work, you may think your car damage risk has ended, but the folks at car insurance companies know better. They consider where you park your car at night as well. Houses or apartments with on-street parking put your car at greatest risk of an accident or theft. If you park in your own driveway, then you will see a slightly lower rate. The next rung of car insurance policy danger assessments goes to people who are able to park under a covered carport. While people can still break into your car, it is protected from the elements. In snowy climates, this protection is especially important for car insurance rates because should a heavy snow knock down tree limbs, you car will be protected. The absolute best place to put your car at night is in a locked garage because there is very little chance that anything will happen to it there.

If you have any changes in the place your car is parked, such as a move to work from home where your car is in a garage all day, then call your insurance company to see if you can get your rate adjusted.

Thinking about where you park your car is just one way you can go about reducing your car insurance rate.