Car Insurance Quotes
What affects the price?
Insurance premiums are set by actuaries. These are people who specialise in analysing risk and statistics.
They know that taken across a population of several million people, the statistics for particular events are fairly predictable. So they set the price for cover according to a points system which will involve scoring you on the following factors:
Your age
How expensive the car is...
How likely it is to get stolen...
Other drivers insured for your car...
Where you live...
Mileage...
Car alarms / Immobilisers...
Women drivers...
Your Profession...
Your record...
Excess- compulsory...
Excess - voluntary...
No Claims Bonus...
Your age: Until you're 25 the insurer will charge you more. You could get round this by being part of mummy and daddy's "other drivers" policy. But many insurers are wise to this and forbid anyone younger than 25 on these. If you're below 25 and have a flashy car then your insurance will be very expensive.
How expensive the car is (ie to replace or repair),
How likely it is to get stolen (eg is it a favourite for joyriders). Answer: get a smaller, uglier, cheaper car.
Other drivers insured for your car: You can nominate particular drivers or have the vehicle insured for any driver. As their personal details have not necessarily been assessed by the insurers this is more expensive.
Where you live: your car parked in a high crime area - even if it's your manor and totally "safe" - will cost more than someone living in noddy land. It's postcode discrimination and some suspect it's just another money maker for the insurers - who charge over the odds - but what can you do? Shop around that's what.
Mileage: the less you drive the less chance of an accident so make sure you tell the insurer if you only use it once a week to go shopping in Camberwick Green.
Car alarms / Immobilisers: If you get an alarm this will reduce your premiums. But it must be an alarm approved by your insurer. (They use a trade body: the Vehicle Security Instillation Board to certify the makes).
Women drivers: have fewer accidents so their premiums are less.
(Men!)
Your Profession: the actress pays a lot more than the bishop
Your record: The insurers will be looking for any endorsement points, your liability for any accidents, and any drink driving. The older these are the less they will count against you. Some insurers state minimums eg they won't insure anyone with more than 6 endorsement points on their driving licence or, say, more than 4 claims in the last 5 years.
Excess - compulsory: The compulsory excess is what you have to pay towards a claim. Say the compulsory excess is £200, and your claim is £500, the insurer would only pay you £300. So the lower the compulsory excess the better.
Excess - voluntary: The "voluntary excess" is what you agree to pay towards a claim - in addition to the compulsory excess - in return for lower premiums.
So you may agree to pay a voluntary excess of £200. If your compulsory excess is also £200 then you'll be liable for the first £400 of any claim.
You have to weigh up the benefits between cheaper premiums and the chances of you making a claim. Bear in mind that any claim you make is likely to increase your premiums next year so set yourself a level below which you won't claim, say, £600, and see how much it will save you over the year in reduced premiums.
No Claims Bonus: If you don't make claims to your insurer you are rewarded by your premiums coming down in price. The percentage discount depends on the number of years you haven't claimed for.
So if you have a minor accident weigh up which would be cheaper. Making a claim or paying for any repairs yourself.
Your no claims bonus is transferable between insurers. After 6 years of no claims you could see a discount of 65% on your premiums.
You can even make a limited number of claims if you "protect" it by paying a little extra.
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