While shopping around for car insurance you may have seen that insurance companies ask for your garaging address and may not ask for your home address or consider it two different things. You may be wondering what a garaging address is and why it is important.
What is my garaging address?
You garaging address is where you park your car for the majority of the year. For most people, this is also your home address, but for others this may actually be somewhere else.
A college student with their own insurance policy may have their garaging address listed as a dorm room or off-campus apartment but uses their parent’s address as their home or mailing address.
Why is an accurate garaging address important?
Where your vehicle is kept most of the time is one of the many factors that insurance companies consider when calculating your risk for filing a claim. If your garaging address is in a major city where break-ins, vandalism, and car accidents are more prominent, then your rates can increase because your vehicle is kept in a high-risk area. Whereas, if you lived in a rural area where crimes tend to be lower and accidents fewer, your vehicle is considered to be kept in a lower risk area and as a result, your rates won’t be as high as someone living in the city.
It is important to make sure that your garaging location is accurate on your policy so that your premium is properly calculated. Claiming your car is kept elsewhere to avoid listing it as parked in a high-risk area may complicate a claim process should anything ever happen to your vehicle.
If you move, or where you keep your car parked for the majority of the time changes, then be sure to update your insurance as soon as possible.
If you aren’t sure which address you should list as your garaging address, feel free to contact our office to discuss your situation so that we can make sure you get the most accurate quote and policy possible.