Bank of Cyprus savers to lose 47% above €100,000 + MORE Jul 29th

To be eligible to drive a car in Canada you first need two things: a valid driver’s license and auto insurance. The fees for the former are at a fixed price set by the province you reside in. But, as anyone who’s ever asked friends how much they pay in insurance knows, annual premiums can be as varied as the makes and models of vehicles on the road.
Big brained – and very well-paid – actuaries spend their days figuring out various risk scenarios to calculate the fees insurers will charge. Here are the key considerations they use to figure out your rate.
Drive With Care
The number-one factor used in calculating car insurance rates is your driving record. If you haven’t been driving long enough to establish a record, you’ll pay a premium for that. And if you tend to amass speeding tickets like a kid collecting hockey cards you’ll pay a major premium. The odd moving violation every few years shouldn’t have much of an impact, but insurers will view frequent tickets as indicative of how you drive all the time…