Car insurance cost factors: your car
Another factor that can add to the cost of your insurance will be any modifications that you have made to the vehicle. Anything from alloy wheels to a new, high specification stereo could lead to higher costs for you when you come to insure the car. But, on the bright side, you may be able to reduce insurance costs by improving the security system that’s associated with your car.
How about storing your vehicle overnight? Well, insurers tend to like it best if your car is stored in a private garage. That’s because a locked garage is enough to put off most casual thieves and mischief-makers. If you don’t have a private garage, of course, then you may be looking at higher premiums.
A locked compound could also be looked upon favourably, but parking your car on a driveway may increase the costs, while parking the car on the road is likely to see an increased level of risk. One thing that will be occurring to you hear is that insurance companies really hate risk.
We made a mention above about age, but what about other factors about you and your home life? It seems that women are less likely to be involved in road accidents than men. As a result, women are often able to get better deals when it comes to car insurance. If you’re male then there’s not much that you can do to change this – well, at least, not anything that’s particularly quick or pain-free!
But some people suggest that your marital status and whether you have children could also have an impact. The thinking here is that those who are married and have kids are likely to be more responsible and also more aware of the presence of their children in the car. This could lead to them driving in a more restrained and safer manner.
How about if you have previous motoring convictions? This is a question that you’ll certainly be asked and evidence of previous convictions is certainly likely to increase your premium. The extent to which it has an impact will be defined by the nature of the offence and how long ago it was. If you’ve received a speeding ticket at some point, then this may not have a massive impact on your premium.
But frequent problems with speeding, or a drink-driving conviction, will certainly count against you.
Want to know what factors are important when it comes to choosing car insurance? Our complete set of articles can point you in the right direction:
Car insurance explained
Third party insurance
Third party fire and theft
Fully comprehensive cover
Comparing car insurance deals
The cost of car insurance
Car insurance costs: your car
Car insurance excess levels