Why does my car insurance go up?

There are several factors that can affect car insurance rates in Canada. Here are some of the most common factors:

1. Driving record: Your driving record is one of the most important factors that insurers consider when determining your car insurance rates. If you have a history of accidents, tickets, or other violations, you may pay higher rates.
2. Age and gender: Younger drivers and male drivers are statistically more likely to be involved in accidents, so they may pay higher car insurance rates than older drivers or female drivers.
3. Type of car: The make and model of your car can also affect your insurance rates. Cars that are more expensive to repair or are more likely to be stolen may have higher insurance rates.
4. Location: Where you live can also affect your car insurance rates. If you live in an area with a high rate of car theft or accidents, you may pay higher rates.
5. Coverage and deductibles: The amount of coverage you choose and the deductibles you select can also affect your car insurance rates. Higher coverage limits and lower deductibles typically mean higher rates.
6. Credit score: In some provinces, your credit score can also affect your car insurance rates. Insurers may use your credit score as a factor in determining your likelihood of filing a claim.
7. Insurance history: Your insurance history, including your claims history and how long you have been insured, can also affect your rates.

It’s important to note that each insurance company may weigh these factors differently, so it’s important to shop around and compare quotes from multiple providers to find the best rates for your individual circumstances.