Things to Take Into Account With Your Car Insurance
Car insurance is a right pain in the backside. But it is also illegal to drive without it. Because of this it’s important to get the best deal you can for you and your car. But there are a lot of external factors that could affect your insurance premium rates.
Here are some of the most important:
Age
Your age will play a massive factor in the cost of your insurance premium. If you are a young driver, your insurance will be more expensive. This is because younger drivers are perceived as more irresponsible and prone to accidents. Of course, this won’t apply to all young drivers, but the sad fact is that generalisations affect everybody. Prepare to pay more if you’re a younger driver.
Finances
Believe it or not your finances will have an effect on your insurance costs. You need to prove that you have a regular income and can support insurance payments. This is a factor that will be taken into account along with your occupation.
Make & Model
The make and model of your vehicle will play a big role in determining the cost of your insurance premium. If your car is more valuable or needs more maintenance work, this may make your insurance costs more expensive. A used car from Imperial Car Supermarket will most likely cost much less for insurance than a new car would.
Experience
Your experience as a driver will come into play with regards to insurance. If you have never driven before and have only just passed your test, you might have expensive insurance. If you’re a more experienced driver, it’s likely your premium will be less. But there are other factors to consider too such as make and model of car, etc.
Area
The area you live in will be a factor in the decision-making process. If you live in an area with a high crime rate, your premium will be much higher. This is due to an increase in the likelihood of your car being stolen. If you live in a nicer area with a lower crime rate, then your insurance will no doubt be lower. The make of your car can also play a role here too. Some models are more attractive to thieves or easier to steal.
Marital Status
Believe it or not your marital status can affect your insurance premium. Married couples tend to have fewer accidents than single people. So if you’re married, you will be looking at a cheaper insurance premium.
Credit Score
A lot of insurance companies take your credit score into account when calculating your rates. There isn’t a specific cut-off point that can affect your insurance. But as you’d expect, a lower credit score will often mean a higher insurance rate.
Job
Your job will have an effect on your insurance premiums. If you’re in a job considered more high-risk, like a delivery driver, you’re rates will be higher. You spend more time on the road, so the likelihood of accidents increases.
Driving History
Your driving history might also play a role. If you have prior for reckless driving or if you’ve got points on your licence you may find you insurance skyrockets. If you’ve been driving a long time and you have a clean record, you could see significant savings on your insurance rates.
