Car insurance. A sort of necessary evil, if you like. An added cost on top of buying and fuelling the car itself, but one that getting right now could save you a lot of cash in the future.
There are tonnes of things that affect how much your car insurance might cost. Let’s take a look at 5 of them.
Previous Driving Convictions
A great driver with a long record of incident free driving is likelier to benefit from a no claims discount. But the opposite is also true – those with a poor driving record will face higher fees. This is particularly prevalent if you’ve any history at all of driving convictions, whether that’s drink driving, using your phone behind the wheel or driving without appropriate insurance.
A previous driving conviction will have a notable negative affect on your insurance costs.
The Car Itself
A supercar will cost more to insure than a small and simple car. That’s just how it is. The larger the bill that you insurer will face in the event of an incident, the larger the risk to them. And the larger the risk to them, the likelier your premium will be higher.
So if you’re a new driver or a high risk driver, consider a low insurance group car as a means of saving on your premium.
Where You Car Will Be Parked
The postcode of the house where your car is parked can impact your premium. Lower crime areas, for example, are likely to mean lower premiums than higher crime areas. Having a car parked in a garage or even a drive is likely to make for lower cost insurance than having it parked on a road too. There are all these things to consider as well.
Just Letting Your Insurance Roll On
Whatever you do, don’t simply accept your renewal quote. We find invariably that our renewal quotes from our existing insurers are higher than the quotes we get by shopping around. It might not be the case 100% of the time, but shopping around costs nothing. So before just simply accepting your renewal, shop around and take a look to see if you could save money. In some cases, the savings are absolutely significant.
How you plan to use the car
A car that is only used for the odd small journey will often be lower cost to insure than one used to commute or even for business usage like making deliveries and so forth. When applying for your insurance quote you will be asked about the intended usage of the car. It is absolutely vital that you’re honest about it (to save you any potential future scenarios where your insurer won’t pay out). And this will in turn have an effect on your premiums.
Getting the Best
Whatever car you are driving and whatever your driving history, do shop around for your insurance. The savings can be significant. And our other top tip? Answer everything as honestly and as in detail is you can to save any issues in the future. Happy driving.