Factors That Affect Car Insurance Costs
|Money : Insurance|
Many people are amazed at the cost of car insurance for them and how it can vary radically from that others have in other situations with other cars.
Apart from the fact that insurance rates vary across providers, what are the main variables that determine the amount you will have to pay for your car insurance?
Well, all cars get grouped into different bands, that range from 1 to 20, with 1 being the lowest and 20 being the highest risk.
So typically a smaller, less powerful and perhaps cheaper car would be low risk, whilst a powerful sports car or an expensive flashy car built for speed is obviously in a higher risk category - not least because of increased attempts perhaps to steal or vandalise one of these cars.
If you always park your car standardly on a drive or in a garage, the premium will be slightly less than if you leave it parked on a public road.
Other items that are taken into account are personal factors: for instance sex, age, your amount of experience driving and your history. In fact young men pay a larger premium than older female drivers for instance.
Finally remember that your job is also taken into account, so if for instance if you are in sport or entertainment then you are likely to have quite a whopping premium rate!
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