A Look At The Factors Affecting Your Car Insurance In The Philippines

Are you planning to buy a car in the Philippines? If you are, you need to be ready for the expenses that come with this purchase. In addition to paying off your car loan and making sure that you have enough money for gas, repairs and tolls, you will need to set aside a good amount of money for insurance. The following are some of the factors that will come into play when you are buying car insurance Philippines.

One of the factors that will determine your car insurance is your gender. If you are a female, you are likely to get a lower premium compared to a male driver. A 20 year old male driver is likely to pay about 21 percent more compared to his female counterpart. The reason for this is that on average, men are considered to be riskier than women. Men are more likely to speed, get a driving under influence conviction and get into more catastrophic accidents compared to females.

Another factor that will definitely come into pay when you are buying car insurance Philippines is your marital status. If you are still single, be prepared to get stiffed. On average, a single 20 year old driver is likely to pay about 21 percent more than their married counterpart for the same policy.

Your credit score will also affect your car insurance plan. To be on the safe side, you should make your credit card payments on time in order to lower your rate. In the event that you have maxed out your visa or skipped a payment or two this year, you could be in for a higher premium. Whether you like or not, your credit score is a measure of your financial responsibility, and the insurance companies use the credit scores as a predictor of the overall behavioral responsibility of their customers.

For more information on the factors affecting your car insurance in Philippines, visit our website at https://ichoose.ph/