Does Parking A Car In Your Garage Impact Your Auto Insurance Rates?

When the automobile was introduced in the late 1800’s and was mass produced in the early 1900’s, the automobile has revolutionized the way people have travelled since then. Today, although the car’s design has drastically changed, its use and purpose remain the same, getting people from point A to point B faster and more conveniently. Hence, this valuable asset has to be secured and getting the right insurance coverage for its protection and maintenance is vital and essential.

There are several factors that determine auto insurance costs. One of the factors that determine auto insurance rates is the parking location. So, does parking a car in your garage impact your auto insurance rates? When filling out a form for car insurance, one question that is usually asked by the insurance company is the where one parks his or her car. The location where one parks has a significant impact on auto insurance premiums, especially if one is paying for a comprehensive insurance coverage for his or her car.

There are two primary reasons why an insurance company asks its clients where they park their cars. The first reason is that some locations may be safer than others, if a person parks his or her car in an area that is well-monitored by security or in a secure a garage, then the car is less vulnerable to auto theft or damage. In the same manner, parking a car in some streets may be safer than other streets in regards to auto theft. The other reason why insurance companies ask about parking location is the vulnerability of the car to weather damage, especially if a person parks their car in a street rather than in a closed garage.

The car insurance coverage and premiums will change depending on garage location, but the extent of these changes considerably increase, especially when living in an area that has a high crime rate or an area with severe weather conditions. Parking a vehicle in a street in a city with a high number of auto theft cases, may not be a good idea but there are ways to limit an insurance quote if there are no other areas to park a car. For example, many drivers have opted to install a car alarm system. This can lead to a considerable decrease of car insurance coverage costs. Installing other anti-theft systems can also lead to cheaper car insurance costs.

Wherever one chooses to park their car, he or she should be responsible enough to know how the garage or parking location can affect auto insurance premiums. More information on parking locations and car insurance premiums may be obtained by consulting with an insurance broker or by looking for car insurance quotes on the internet. Searching for these quotes will help in teaching about auto insurance and how to manage auto insurance policies. This is important to know especially if penalized unfairly for car parking locations and if fair insurance rates are being applied to one’s auto insurance plan.

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