Is the Garaging Address a Factor In Car Insurance Quotes?

On insurance quote applications, one of the most important aspects of it typically gets little attention from car owners. Even though the question of where you garage your car might seem innocent enough, it can have a major impact on the amount that is quoted to you by an insurance provider. If you are in the process of getting quotes for insurance coverage, here is what you need to know about the importance of the garaging address. 

Why Is the Garaging Address Important?

The garaging address refers to where you park your car when it is not in use. The address is important because it helps insurance providers determine whether or not the location is safe for your car. If there is an increased risk of covering your car is associated with the address, your provider could charge more for coverage. 

A garaging address becomes an increased risk when it is in an area that has circumstances that could make it dangerous for your car. For instance, if there is a high rate of car vandalism in the area, your car is at an increased risk of being vandalized, which means a higher risk of you filing a claim on your insurance to repair damage. 

Can You Use Another Address?

In an effort to save money, some car owners use a different address for the garaging address. There are several reasons this could be a huge mistake; for starters, drivers could be accused of insurance fraud. If the insurance company discovers that the actual garaging address differs from the one stated on the application, the insurance provider could drop your coverage or increase your premium.

Depending on the circumstances, the insurance company could even choose to pursue legal action against you. Insurance fraud could result in heavy fines and jail time. 

What Can You Do?

Since putting down a different garaging address is not the best course of action, you need to focus on finding other ways to lower your insurance premium. For instance, you could take a defensive driving class if you have previously received a traffic ticket. You could also focus on improving your credit rating since it is also factored into how much your premium is. After improving your rating, you can obtain new quotes or ask your current provider to reassess your coverage situation.

Your insurance agent can offer suggestions for lowering your quotes to help offset the impact of the garaging address on your premium. Contact car insurance quote companies through resources like http://www.martininsurancecompany.com.