Car Insurance Premiums
Consider comparing online quotes to get the best deal for insuring your car.
The difference between insurance quotes can be quite substantial when you compare those offered from one insurer to another, so it will be in your interest to shop around online for the best deal, and also understand the factors taken into account when insurers calculate a quote for each individual premium. Expect no claims discounts if you are a policyholder with a claim free record but be aware that each insurance company's no claims discount structure could vary from between 30% for one claim free year up to 70% after four or five years.
If you have a driving conviction or a poor claims history, protecting your no claims discount doesn't necessarily guarantee a cheaper car insurance quote. The number of drivers listed on the policy, their ages, genders, occupations, driving records and accident claims histories will either adjust individual car insurance premium quotes upwards or downwards.
Motorists involved in a significant number of vehicle accidents and young drivers will often receive higher quotes. Some insurance companies will not provide cover for convicted drink drivers and those who do will increase the premiums quoted by as much as 100% with a possible reduction in the level of cover. Depending on the individual insurers, other motor convictions, such as speeding offences, can also mean insurance premiums will be increased.
Where you live is a very important factor in deciding how much you'll be quoted for car cover. For example, owners of vehicles living in cities with high crime rates can expect to pay higher premiums simply because greater numbers of claims are recorded in such urban environments. But wherever you live, if your car is kept in a secure garage overnight this is sure to help to reduce the premiums quoted by a wide variety of insurance companies, and having an immobiliser, alarm or tracking device fitted to maximise the security of your car could incur significant savings at any level of cover.
The type of car you drive is another factor that enables insurance companies to provide an accurate quote for cover, as the make, model and specification of your vehicle establishes its group rating - somewhere between 1 and 20. Put simply, a high rating number equals expensive insurance whereas a low rating generally means a lower quote and ultimately, a cheaper premium. The number of miles you drive each year and how you use your car also contribute to your insurance rating, so high annual mileage and driving your car to work could push the cost of a premium up further.
If you hold a clean driving licence and have not made an insurance claim in the last five years, you could attract a number of cheap quotes to compare for the best deal, and if you've passed an Institute of Advanced Driving Course you may be entitled to additional discounts on your preminum. Increasing your claims excess can also make a positive difference to the initial cost of cover for your car, but in the event of a claim your insurer will account for this in any settlement.
