How Much Does Car Insurance Cost? It Depends On You and Other Named Drivers
Because all drivers and their circumstances are different, there can be no such thing as ‘off the shelf’ set-price car insurance. The amount you pay for a year’s cover depends on a number of factors regarding you and your car.
The car insurance company will take into account the following about you and other named drivers:
Your age and road experience
Young drivers, learner drivers and those with little experience pay the most for their car insurance because they are deemed more likely to have an accident and so are more of a risk for the insurer.
Your sex
Because statistics prove women are less likely to be involved in a road accident than men, some car insurance companies now offer lower premiums to them.
Your driving licence
Insurers raise their premiums for holders of a provisional licence, / new drivers and points on your licence may also be a factor. If you have a driving licence issued abroad, your experience of driving on UK roads will be taken into consideration.
Your insurance history
The more accidents you have had in the past and the more claims you have made, the more you can expect your premium to be for your car insurance cover.
Any previous driving offences
Your driving history is an important factor in your car insurance company’s assessment of the level of risk you pose.
Your occupation
If your job entails driving, you are statistically more likely to be involved in an accident than someone who only drives occasionally.
Number of people to be insured to drive the car
With more than one person using the car, it’s assumed that the car will spend longer on the road and is therefore at greater risk, so having two people insured generally means you pay more. If the second person named on the insurance is a young driver or someone with little road experience, the cost will be increased. However, if a young person or inexperienced driver wants to insure a car for themselves, and names an older, more experienced driver as the second person on the policy, then their premiums could be lower than if they were insured as the only user of the car.
The area in which you live
If you live in an area with a high volume of traffic, which increases the likelihood of being involved in an accident, or where the crime rate is such that there is heightened risk to the vehicle, this will be reflected in the results returned when you compare car insurance rates.
The level of car use
It stands to reason that the more time you spend driving, the more chance you have of being involved in an accident, so how, when and where you use your car can make all the difference to your premium.
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