When researching car insurance, it is important to remember that not only are there a number of factors that can result in insurance prices rising but also some that can invalidate it.
The basics
We all know that motor insurance is calculated by assessing factors that determine your risks on the road, such as your annual mileage, the size of your engine, and the model you drive. Interestingly, your personal details can also have a huge impact on the price.
Your profession
When your insurance is being calculated, your job is taken into account. If you drive for a living, you will obviously be considered more of a risk than someone who does not. Put simply, the risk factor has a heavy impact on your annual premium; however, recent research has shown that drivers could be paying too much by not being specific about their job. By being more specific, drivers could save themselves hundreds of pounds; for example, if a student puts their job title down as ‘student’ rather than ‘unemployed’, they could potentially be paying through the nose.
Safety first
It goes without saying that an insurer considers a car parked on a drive in a rural area much safer than one parked on the street in a busy city. If you are a driver with previous convictions and fines, you can also expect to pay more; however, a broker such as https://www.quotemetoday.co.uk/motor-trade-insurance/ that offers a broad range of insurance – for example, motor trade insurance, professional indemnity insurance and convicted driver insurance – is likely to offer competitive rates.
Marital status
Are you single or divorced? If so, you are considered less responsible than married people in the eyes of an insurer and your premiums will reflect this; in fact, married people save between five and 15 per cent annually.
Where you live
Where you live has a huge impact on your insurance cost. Living in a city compared with the countryside and parking on a driveway rather than a street both have a massive impact on the outcome. Crime rates in the area in which you live are also taken into account.
Experience
The more years you have under your belt, the cheaper your premium will be. Typically, young drivers are seen as being a higher risk, as they have less experience.
