Car Insurance Quotes: Factors That Affect Your Wallet
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by: Steven Clarke
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Owning and operating a car can seem like a money pit. First, you have to pay for the vehicle itself. Then, you have to put fuel in it, something that is getting more and more expensive to do. And let’s not forget car insurance. Once you add all of these expenses together, you are probably paying hundreds of pounds per month just for the privilege of driving to work and back.
While no one can control the cost of fuel, there are things that you can do to lower your driving expenses. You can buy a cheaper car, maybe even one that uses less fuel. Most importantly, though, you can shop for the lowest car insurance quotes. You may even be able to lower your quote by paying attention to factors that make the cost of car insurance go up.
There are many factors that affect the car insurance quotes that you receive. Before we learn how to use these factors to your advantage, let’s see what they are:
• Age and sex – Young males typically have to pay higher car insurance. This is due to statistics that say that most accidents and damage is caused by this age and sex group. Instead of penalising everyone who needs car insurance, insurance companies target the statistical group that is responsible for most of the claims.
• Driving history – Car insurance quotes are also determined by your driving history. If you have any tickets, warnings or accidents, you will have to pay a higher premium. You may even be denied coverage if your history is bad enough.
• Area – The place where you park your car at night may affect car insurance quotes. If there are a lot of claims in the area, you may end up paying a higher rate.
• Number of claims – If you have a lot of car insurance claims, you will have to pay a higher rate.
• Excess – The amount of your excess directly affects the amount of your monthly premium.
Now that you know what’s causing your car insurance quotes to go up, you need to know how to lower them. Not much can be done about your age and sex. If you are young, you are better off with a smaller car as the insurance will be lower. Be a safe driver. Watch your driving history. Do not file frivolous claims. Choose a higher excess; this will lower your payment. It will also prevent you from filing small, petty claims.
Car insurance quotes are decided by numerous factors that you have control over. Quotes will also vary from provider to provider. Be sure to obtain several quotes before you make your final decision. You may also want to play around with different types of coverage and see how it affects your premium. If you opt for less coverage, you will not have to pay as much but you will be less prepared if an accident occurs.
About the Author
Steven Clarke - Marketing Manager for www.mycarsinsurance.org.uk. We offer a car insurance service which compares all the UK’s car insurance deals to find you the cheapest insurance quote.
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