Most people have little idea of how car insurance premiums are calculated. As a result, many pick up whatever policy sounds good to them. But if they take the time to study, they might be able to find out what is driving their premiums up and make adjustments to ensure you always have affordable car insurance. The way insurance companies decide how much you have to pay can be cryptic, however, and some of the factors they consider might surprise you. Let’s take a look at a few things that can affect how much you pay on insurance.
Your postcode says a lot more about you than you think and can give an insurance company a lot of information. First of all, it can tell them things such as the population density, or how many accidents happen in the area versus other areas of the country or city. Other things like the crime rate in the area can also make a difference.
Believe it or not, tying the knot might allow you to save money on car insurance. We’re not saying you should get married right away, but, if you were going to, then know that you could see it reflected on your insurance bill. This is because people who are married are viewed as safer by insurance companies. They also tend to be involved less often in accidents.
If you don’t take the time to look at your options and take advantage of them, then you are probably wasting money. You have to take advantage of a large number of insurance providers in the country and find the best deal you can. If you want very cheap car insurance, the best thing you could do is visit a site like Quotezone.co.uk They have relationships with over 100 providers in the country, so you’re almost guaranteed to get the best deal. They’ve helped thousands of people save money on insurance over the last few years, and they could do the same for you if you take the time to visit their website.
Did you know that how and where you park your vehicle will also make a difference in how much you end up paying? For instance, someone who stores their vehicle in a garage will pay less than someone who leaves it on the road. That’s because it will be more exposed to thieves, but it will also be more at risk of getting crashed into, whether it’s by another car or a bicycle, for instance.
Electing to pay more out of pocket for damages will also reduce your premiums. But you have to be careful to pick something you’ll actually be able to handle. You also shouldn’t go for a deductible that is too high in comparison to the vehicle’s value.
These are all factors that could end up affecting your car insurance premiums. If you are trying to cut costs, make sure that you take note of these and do everything that you can to look like a low risk driver for insurers.