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If your car insurance is up for renewal, you might be wondering if there’s anything further that you can do to drive the price down. And the good news is that there usually is. By understanding the various factors that go into calculating the price of car insurance premiums, you can shop around and try to get a better deal. Here are some of the factors that are taken into consideration when you get a car insurance quote – and some of them might surprise you.
Your Age
Yes, your age is a big factor when buying car insurance. And while you can’t really make yourself any younger or older, you might be able to get a better deal by opting for car insurance that is designed for people in your age group, such as car insurance for older drivers, or can insurance for young drivers. Typically, you have a better chance of getting a reduced price if you go with a company that offers car insurance to drivers in your age group.
Your Car
The car that you drive has a huge impact on how much you pay for your car insurance. Generally speaking, older and cheaper cars are often more expensive to insure, because they don’t have the same safety features that a lot of modern cars have today.
The more safety features your car has, the cheaper your insurance is likely to be. However, statistics also play a part – and if cars that are the same make and model as yours tend to be involved in a lot of collisions, you might end up paying more.
Your Address
Don’t forget that your car insurance covers more than simply being involved in a crash. If your car is stolen from your driveway, your insurance will pay-out. However, this means that crime rates in your area can have an impact on how much you pay to insure your vehicle. If there are lots of car thefts in your local area, you can usually expect to see higher insurance premiums as the risk of your car being stolen will be higher. On the other hand, people who live in areas with a low crime rate tend to enjoy cheaper car insurance.
Your Past Driving Experience
Your past driving experience is always taken into account when you get a quote for driving insurance, and it’s usually the last 3-5 years that are considered. If you have gotten a speeding ticket, been convicted of a driving offence, been involved in a collision (regardless of who was at fault) or had your car stolen during this time, it’s likely that your insurance premiums will be affected in some way. You can mitigate some of the damage done by paying extra to protect your no-claims discount.
When it comes to calculating car insurance, there are several factors that are taken into account. When you know what they are and how they affect your car insurance, you may be able to make some changes that bring the price down.
