Does distance travelled each day really affect car insurance rate?
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Posted on: 06-11-05 18:44:13
Somebody who has moved and there was a significant change in distance travelled (to and from work) may be able to tell.
Since this is a question they ask , I assume it has some affect.
How much?
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I once made a mistake, but I was wrong about it.
Distance travelled daily for business and work affects insurance rate.
Insurance companies sees 10KM and less work travel as light and may affect insurance rate by $3 to $4 each month. Over 10KM is called as heavy travel and may affect rate by minimum of $15 each month.
If it is for business travel then rate is higher than work travel.
Interesting.
I travel about 50 km to and from work.
I am thinking I should move closer to work. Not only will it save some on insurance , but gas and time (I have to get out and hour early).
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I once made a mistake, but I was wrong about it.
Quote:
Orginally posted by mercury6
Interesting.
I travel about 50 km to and from work.
I am thinking I should move closer to work. Not only will it save some on insurance , but gas and time (I have to get out and hour early).
Tip for you - If you move more than 40 kms, just so that you are closer to work, you can claim the moving expense in your tax return.
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SS
Reiki Grand Master
Quote:
Orginally posted by sudesingh
Quote:
Orginally posted by mercury6
Interesting.
I travel about 50 km to and from work.
I am thinking I should move closer to work. Not only will it save some on insurance , but gas and time (I have to get out and hour early).
Tip for you - If you move more than 40 kms, just so that you are closer to work, you can claim the moving expense in your tax return.
That's right..........however, the new distance from home to work should be less by atleast 40kms. Which means you cannot claim moving expenses if you move 55kms away but distance to work is reduced by say only 30kms.
Chandresh
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Chandresh
Advice is free – lessons I charge for!!
Quote:
Orginally posted by chandresh
Quote:
Orginally posted by sudesingh
Tip for you - If you move more than 40 kms, just so that you are closer to work, you can claim the moving expense in your tax return.
That's right..........however, the new distance from home to work should be less by atleast 40kms. Which means you cannot claim moving expenses if you move 55kms away but distance to work is reduced by say only 30kms.
Chandresh
Good point Chandresh. Thanks...
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SS
Reiki Grand Master
What will happen if guys like me who have frequent changes of work locations only because being in construction field? For example, I live in Brampton and had to go about 50 kms to work about 6 months ago and now going to etobicoke (just about 15 kms). My point is....Do I have to notify the insurance company every time I change my work site?
