Many factors affect the premium for your motor insurance policy. Your insurance company will ask you many questions when generating your quote - some of which will affect your premium and some will not. Below we discuss the key variables under the control of the policyholder.
Integrates policies
By insuring multiple vehicles with the same insurance or trying to get home and life insurance through your car insurance, you will be able to get a ‘bulk buy discount.
Position
The big impact on your car insurance cost is where you live. The possibility of your car being broken into or stolen is important to the insurance company. Traditionally more urban areas are at risk of theft and are therefore more expensive than rural areas.
Extra
You can reduce your car insurance premiums by agreeing to pay a higher amount per claim. This is because you are reducing the insurance company's liability to give you a lower premium.
Your vehicle
The cheaper and slower your vehicle is, the lower your premiums will be. If you are looking to buy a new vehicle, make sure you have fully considered the cost of insurance - you can buy a car, but can you drive it? Mileage
You can control your insurance premiums by limiting your annual mileage. However, be aware that you will be insured if you exceed the limited number of miles!
Parking
Where you park your vehicle at night is also very important for insurance companies. If it is kept in a locked garage, you should pay a lower premium if you leave it unseen on the street.
Security
Security devices that prevent or block theft can also lower your premium. Common examples include alarms and stabilizers; however, be aware that thieves are better at avoiding them while improving the quality of our security devices.
There is no reduction in claims.
Save your claims reduction by not making small claims on your policy. After a certain number of years, 4 or 5 will usually allow you to pay an additional small premium to protect your claims bonus. This can be very helpful if you have a subsequent accident.
Advanced driving skills
You can also reduce your premiums by taking an advanced driving course. The Institute for Advanced Motorists and the Royal Society for Prevention of Accidents offer every membership, offering discounts on both the cost of driving courses and your car insurance premium.
Two key variables are not under the control of the policyholder.
Your Gender
Women are numerically less likely to be at risk, and if they do, it is less likely to be serious. Women benefit from lower premiums because of these statistics. If you represent half of a couple, females should be considered as the primary driver and the male as the second driver.
Your age
If you are an adult, you are less likely to sue. As a result, insurance companies charge lower premiums for more mature drivers.
One last piece of advice.
A large percentage of car insurance is now sold on the internet. Because it is convenient and cheap. Most insurers now offer another 10% -15% discount if you buy online.
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