Driving and owning a vehicle could be considered a necessity in today’s world. With more roads than ever before and increased access, there are millions of cars on the road on a daily basis. Driving is convenient and allows us the ability to explore the country or even the whole world. Many young people are keen to get driving lessons when they get to the right age because of the freedom it allows.
Having a driving license allows you to cover more ground and see more places than if you relied on public transport, especially if you are exploring remote areas. However, owning a car comes with responsibilities and expenses. An expense that frustrates many is insurance, mainly because it can be so variable. But there are ways to make sure you consistently get good insurance deals and don’t pay more than you should, but why is some insurance high? And why does it go up?
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Age
The biggest reason for a high insurance policy is age. The additional risk involved when you have only just passed your test accounts for the extra premium. When insurers examine statistics related to driving accidents, they make an assessment on levels of risk from certain age groups. Unfortunately for the young, the statistics speak for themselves; around a quarter of 18-24 year-olds are involved in a crash during the two years immediately after passing their test., so insurers raise the premiums as it’s more likely they will have to pay out for an accident. However, you should still shop around and compare car insurance prices, as there can be a vast difference in premiums depending on the insurer. As you get older, your insurance should come down; what can you do to ensure (excuse the pun) that your premiums go down and not up?
Driving behavior
Taking care of how you drive is crucial if you want your insurance reduced on the renewal date. Any accidents will increase your premium. As well as the safety concern, it’s in your best interests to take care on the roads. Avoid activities that you know compromise your concentration. Eating, talking on the phone, or fiddling with the satnav or stereo will take your mind off driving and could cause an accident. It only takes a few seconds of distraction for something potentially dangerous to happen; as explained by the professionals at westcoasttriallawyers.com, which helps you consider how an increased number of other drivers on the road can also influence how high your insurance is.
Despite our best efforts, we can’t control other people’s behavior on the roads. It’s good to practice ‘defensive driving’ that is, being aware of what other drivers are doing. Expect the unexpected, and it will help you anticipate any potential accidents and avoid them. Always keep your distance from the car in front of you. Driving too close or tailgating, will only antagonize the diver in front and make it less easy for you to stop quickly in the event of an emergency.
Always follow traffic rules; speeding, jumping lights, or driving dangerously is a sure way to gain points on your license and increase those insurance premiums dramatically. Make sure you are fully aware of all traffic rules and abide by them. It could be the difference between life or death as well as increase your monthly outgoings.
Increase voluntary excess
If you’re primarily concerned with reducing your monthly expenditure, then you could offer your insurer an increased voluntary excess in the event of an accident; this is usually enough to reduce monthly payments. Bear in mind that you will need to foot more of the bill if you have an accident.
Car type
If you are trying to insure an expensive or luxurious car, expect to pay higher premiums. Insurance companies will have to pay out a substantial amount of money if you write off a car made this year or a high-end sports car. The more power a car has, the easier it is to drive fast, and insurers take this into account when considering the likelihood of an accident. If you do own a high-end car you can get your insurance down by installing a car alarm or your car or it may already have one, in which case you’ll see a decrease in premiums.
Insured drivers
You may want to insure more than one driver on your car. If you insure your partner, and you are of similar age, with no convictions, it’s unlikely to make too much difference, but if you insure a young person, you will see an increase- the more drivers, the highest the cost.
Medical conditions
If you are diagnosed with a new medical condition, you should check with your country's regulations regarding driving. Some conditions may mean you will have to give up driving, but that is rare. If you have a condition that may slightly increase your risk of having an accident, you must tell your insurance provider. It’s likely your premiums will increase but discuss with them the options. What kinds of conditions need to be disclosed?
- Visual
- Neurological illnesses
- Mental health
- Physical impairments
Anything that may limit your ability to handle a standard car should be reported to the local driving authorities and insurance companies. If you have any of these conditions, it doesn’t mean you won’t be able to drive, but you may need specific car adaptations or special glasses, etc, and it is a legal requirement, so in the event of an accident, you may not be covered.
Of course, sometimes insurance goes up when nothing else has changed; this is a sad fact of the world. If your policy is due for renewal, it’s useful to compare prices to make sure you are getting a competitive price. Insurers will use a variety of information to determine policies, such as increases in car theft and crime; they can even go up based on accidents other people are having. If you live in an area where there are notorious ‘black spots’ for accidents this may increase prices.
Sadly, car insurance is a necessary evil, but by applying these hints and tips, you can keep your insurance low and affordable. Doing so will give you more peace and mind whenever you’re out driving.