Under UK law having car insurance is compulsory and to drive a vehicle without insurance is a criminal offence that could result in a prison sentence. With so many car insurance companies and brokers in the UK all vying for you business, how do you find the best car insurance that meets your needs? We look at some of the factors to consider in this article.
Car insurers generally categorise their risks according to driver ages and also their gender. So if you are a male driver between seventeen and twenty five years of age, you will be seen as at greatest risk of an accident by the insurers and your premiums will be priced accordingly - very high, unfortunately. In contract a woman over 50 years old is seen as at low risk of making a claim and so she is very likely to have the lowest car insurance premiums to pay.
You also need to understand the type of car insurance you need as if you get comprehensive insurance it will be more expensive but provides much more cover.
When choosing car insurance you may be surprised to find that the prices charged may vary considerably from company to company. This is because each insurer ascertains their own risk profiles from their claims histories and calculates premiums accordingly.
This may all sound complex, but actually it is the insurance company that does all the hard work in determining how much they will charge. All you need to do is to compare the quotes that you receive and ensure that each covers your requirements fully and yet offers you good value as well.
Insurers take many factors into account when calculating their premiums. It is not just the type and make of car that they consider, but factors such as your age and employment, whether you are married or not and your claims history. Your gender and where you live are also considered as a woman over 50 living in a rural village is probably less likely to make a claim than a male twenty something living in a major city.
The annual mileage that you travel in the car is also important to declare when buying insurance as the more miles that you travel, the greater the risk of an accident. You may have a collectors car that you only use on Sundays and therefore travel less than 2,000 miles a year in it so arranging a low annual mileage policy is likely to save you money.
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