subject: The mystery behind car insurance [print this page] The mystery behind car insurance
Car insurance is an essential requirement for British drivers, but many motorists still admit to being relatively clueless when it comes to understanding how exactly it is calculated. Even more perplexing is the way different cars can have such radically different insurance prices and security features for the policies they offer, making it important for insurance customers to find out how these quotes are calculated.
There are some factors in the price of your car insurance that you won't be able to control, no matter how many companies you visit, such as your age group. Younger drivers in their early 20s are deemed to be at higher risk of making claims than those in their 40s and 50s, who tend to have more experience behind the wheel and exhibit less aggressive tendencies, while premiums will once again rise as drivers enter old age and their reaction times worsen.
Gender is another, often controversial issue that factors into the price of insurance, with women typically benefiting from lower premiums than men. This isn't due to any underlying discrimination in the car insurance industry, but rather represents the proven facts that women make safer drivers than men, and make fewer claims overall. If you're a woman aged between 35 and 55 who's looking for car insurance, you're therefore much more likely to get a good deal than a 20-year-old male who's just bought his first car.
Beyond these naturally occurring variables, much of your insurance risk is down to your own driving abilities and history, and this is where your car insurance policy begins to vary from company to company. Some insurers look favourably on motorists who have taken advanced driving courses, which could lead to insurance discounts. You could also further minimise your risk by equipping your vehicle with proven security and anti-theft devices, making it less likely that your vehicle will be stolen and that you'll need to make an expensive claim.
It's not just which company you buy your insurance from that can give you the best deals, but where you get your quote too. Some insurers encourage new customers to sign up online by offering appealing discounts, and online renewal can also save time and money. Thanks to the internet, it's now easier than ever before to directly contrast the various policies offered by different insurers, to help you find the right deal for you.
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