What is considered with car insurers that can take money off your policy?
Everyone wants cheaper bills every month and car insurance is just a pain in the neck for many UK drivers. What do insurance companies take into consideration when quoting you on your cat insurance policy?
Cars with airbags are one of these considerations. In addition, anti-theft protection can help to lower the cost you will pay for car insurance. There are several, including devices that can be used to lock the steering wheel and installing a great alarm.
The insurance companies look at all of these aspects when quoting a price for the insurance you’re looking for folks!
The type of car driven is another consideration; car insurance quotes for high-end models are going to be more than a regular car, sports cars are much higher to insure but not if you have a good driving record and no claims bonus mate.
Statistics show that speed is a factor that contributes too many accidents. When purchasing a car that is known for being fast, there is no doubt; you will pay more for it. Speed cameras are everywhere; one way to catch them out is buy a Tomtom Live with speed camera tracking.
Is the car you are driving one that is expensive to repair? If so, this is a consideration when insurance companies decide on the cost of the policy. If the car is a foreign model that requires obtaining parts from out of the country, this is a higher cost.
This will result in higher costs for insurance. Ford or other domestic model that various car parts stores have parts for is not going to be as expensive to insure when it comes to this aspect.
Of course, your driving record is a consideration. If you are a higher risk individual to insure due to many accidents on your driving record, this will increase the amount paid. Drivers who have DD DR10’s are riskier for the insurance company to insure. You know a good driving record will result in lower insurance costs for you.
Some companies check credit records before providing car insurance quotes. The amount paid for the premium can be contingent upon your record of paying bills. Look at a nil deposit car insurance policy; this will plan out your monthly instalments.
However, some online companies are beginning to rely less on this aspect as consumers began to realize this was being used to determine a rate for their insurance, because at the end of the day, they just cancel your policy.
Some companies are advertising that the rates quoted are not based on credit; they are based on the driving record instead.
The age of the driver will be a consideration as well. Younger drivers will find car insurance quotes will typically be higher. Young male drivers pay more than young female drivers. Generally those under 25 years of age will pay more for insurance than older drivers.
The area in which you live can be a contributing factor to how much is paid for insurance. People who live in a crowded city may pay more for insurance than people who live in the country.
The risk for an accident is higher in a crowded city and this is considered when car insurance quotes are provided. The more car crime in your area, the more you pay.
The more your cars worth, the more you protect it and spend money on making sure it doesn’t get nicked. Insurance companies love this, and will reduce your monthly payments for adding alarms and trackers. If you modify your car, tell the insurance company, because if you don’t, it’s hard lines.
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