Why Garaging Location Matters for MA Auto Insurance

There are many factors that affect your auto insurance premiums – from the age of the driver and driving record to the make and model of the vehicle, vehicle usage, credit score – even where you live! In fact, where you live plays a big role in determining your insurance rates and why garaging location matters for MA auto insurance. What exactly does garage location have to do with your premiums? Let’s explore…

Garage Location

Simply put, garage location is where you live – i.e. where your car is ‘garaged’ or kept most of the time. The term doesn’t actually refer to your car actually being stored in a garage. It can be street or driveway parked. Garage location is directly tied to risk factors.

Risk Factors

Insurance companies base their pricing on your location and the related risk factors. They include auto theft rates and accident rates in that community. If you store and commonly drive your car in an area with high risk factors, you are more likely to file a claim. It’s all about location (that not just a tag word for realtors…as it applies to auto insurance too!) Hence, where you keep your car matters.

Claim Costs

Remember, filing a claim costs your insurance company money. To offset these pay out expenditures, your premiums will be higher if your location is determined to be high risk. A low risk neighborhood is deemed less of a liability to your insurance company and, in turn, keeps premium costs down. Hence…

The Importance of Updating your Address

If you have recently moved, you will want to update your insurance to reflect the change of location. You’d be surprised at how a simple move and a change can affect your auto insurance premiums. If you move to a lower risk area, it can certainly save you money. Updating your insurance company with garaging location also prevents issues with filing claims.

More on Why Garaging Location Matters for MA Auto Insurance

While location is just one of the many risk factors that contribute to premium costs, it does weigh heavily in to the mix – and that’s why garaging location matters for MA auto insurance. As they say: it’s all about location, location, location…