With car insurance rates increasing in 2016 by 3 percent, drivers across Australia will want to consider any steps that can help them save money on their premiums. While the make and model of car you drive makes a big difference, various factors influence an insurer's underwriting, including where you store your car. If you're thinking about the best storage solution for your car, find out if a carport can help you save money on your auto insurance renewal.
Car insurance and risk
The premium quoted by your car insurer considers a variety of underwriting criteria, and each insurance provider uses a different algorithm to calculate premiums. Nonetheless, all insurers calculate premiums based on the risk you and your car pose. Accordingly, where you store your car could influence your insurance premium, as certain storage environments could increase or cut the risk of damage or theft.
Carports and car insurance
Car insurers may decide that an owner with a carport is less likely to make a claim for damage. In Australia, extreme weather like fierce sunlight and hail showers can cause a lot of damage to a car parked on the street or on a drive. However, a car under the cover of a carport is less likely to suffer any damage, so it's less likely you will make a claim.
A carport can also offer protection from debris. For example, a car parked underneath a tree can easily suffer damage from falling branches, but a carport will add further protection. What's more, parked in a carport, your car is less likely to suffer scratches and dents from passers-by or children playing in the street.
Carports versus other storage methods
Some insurers will even look more favourably at carports compared to locked garages. This may sound surprising, but a garage can sometimes create hidden risks.
For example, an insurer may feel you are more likely to accidentally damage your car if you have a garage because the solid construct of the building presents a hazard. This is especially true in older houses, where garages are sometimes smaller and owners have large, new cars that they can easily scratch as they reverse in or out. Conversely, it's much easier to drive in and out of a carport.
Of course, it's a good idea to shop around for your insurance renewal, especially if you decide to install a carport. If you can find an insurer that favours this storage method, you could save a considerable sum.
A carport could save you money on your car insurance. Talk to a local carport construction company to find out more about the options available to you.