A Large Percentage Of Car Insurance Is Now Sold On The Internet

Category: Finance, Insurance.

Many factors influence the premium for your Motor insurance policy.

Below we discuss the key variables that are within the policyholder s control. Your insurer will have asked you many questions whilst producing your quote- some of which will affect your premium and some will not. Location. The chance of your car being broken into or stolen is a key concern for the insurer. A big influence on the cost of your car insurance is where you live. More urban areas traditionally facing greater risk of theft and therefore tend to be more expensive than countryside locations.

By agreeing to pay a greater excess on each claim you can reduce your car insurance premiums. Excess. This is because you are reducing the liability of the insurer and therefore in return they are able to offer you a lower premium. The cheaper and slower your vehicle the lower your premiums are likely to be. Your Vehicle. If you are looking to buy a new vehicle make sure you fully consider the cost of insurance- you may be able to buy the car but can you afford to run it? By insuring a number of vehicles with the same insurer, or by trying to take out home and life insurance through your car insurer, you may be able to secure a bulk buy discount.

Consolidating policies. Parking. If it is kept in a locked garage, you should be offered a lower premium than if you leave it unattended in the street. Where you park your vehicle overnight is also very important to the insurers. Mileage. However, be aware that if you exceed the restricted number of miles you ll then become uninsured! You can control your insurance premiums by restricting your annual mileage.

Security. Common examples include alarms and immobilisers, be aware that, however as we improve the quality of our security devices the thieves just become better at bypassing them. Security devices that prevent or hinder theft may also reduce your premium. No Claims Discount. After a set number of years, 4 or 5 typically, you ll often be offered the option to pay an additional small premium to protect your no claims bonus. Save up your no claims discount by avoiding making small claims upon your policy. This can prove very helpful if you subsequently end up having an accident.

Women are statistically less likely to have an accident and, if they do, it s less likely to be serious. Your Sex. Because of these statistics women benefit from lower premiums. Advanced driving skills. It is also worth noting that if you represent one half of a couple you should consider having the female as the primary driver with the male as the second driver. By taking an advanced driving course you may also be able to reduce your premiums. Two key variables NOT within the policyholder s control.

The Institute for Advanced Motorists and the Royal Society for Prevention of Accidents each offer membership which provides you with discounts for both the cost of driving courses and your car insurance premiums. Your Age. As a result insurance companies charge lower premiums for more mature drivers. The older you are, the less likely you are to make a claim. One final piece of advice. That s because it s convenient and cheap. A large percentage of car insurance is now sold on the Internet.

Many insurers now give a further 10% -15% discount if you buy online.

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