Vehicle Insurance

Vehicle insurance policies will vary and the insurance cover you will need for you and your car will be according to your specific needs. There are many determining factors to be taken in to account when determining the cost of a car insurance premium.

Another competitive market, shop around and do plenty of research to make sure that you don’t end up paying more than you need to. Like any insurance, there can be a great deal of difference in price from company to company. 

Age

Age does matter, at least where car insurance is concerned anyway! Statistically, it is believed that younger drivers pose more of a risk to an insurance company. This is because younger drivers have less driving experience than an older driver.

Sex

It is considered that young female drivers are less of a risk to insure than young male drivers are.

The Area You Live in

The area that you live in can have a significant impact on car insurance quotes. Insurance companies rate different areas according to crime statistics for any particular area. The higher the crime is for any given area will dictate higher premiums that will have to be paid.

Is Your car garaged?

If your car is kept in a garage then insurance companies consider this to be safer and at less risk of being stolen. Whereas a private driveway is second best and your vehicle parked on a public road makes it the most at risk of theft in the Insurers eyes.

No Claims Bonus

Car insurance for drivers who have a “No Claims Bonus” are usually quoted cheaper premiums. Insurance companies see drivers with this factor less of a risk where accidents are concerned.

Previous Claims

The more claims you have for previous incidents the higher your insurance premium is likely to be. Insurance companies will likely consider the driver to be “high risk”.

Insurance Group Rating

Insurance companies also factor in the type of car, engine size and suchlike when calculating a quote. In general, the higher specification of the car and bigger engine will cost a great deal more than a small car with a smaller engine.

Types of Insurance Cover

There are three levels of insurance cover:

Third Party Only

Third Party Only is the most basic type of cover and offers the least protection. It only covers liability to third parties who claim against you and the accident is your fault.

Third Party Fire & Theft

Third party fire & Theft covers liability to third parties who claim against you, plus you are covered if your car is stolen or damaged by fire.

Comprehensive

Comprehensive Insurance cover offers the best level of protection. Your car will be covered for all damages whether you are at fault or not. Insurance companies will vary in supplementary cover additions in with the premium.

As a precaution, prior to taking out any particular car insurance premium, you should always check through their terms and conditions to ensure you are getting the best cover for you and your vehicle.