The following is a guest post.
Car insurance can be a major cost associated with your vehicle and so, when you are looking for cheap car insurance quotes, it is definitely worth knowing a bit about the factors that affect the quotes you are offered. Read on to find out more about 7 factors that affect the cost of car insurance.
Choice of car
The type of car you drive can have a big impact on the price of your auto insurance. As you might expect, the safer your car is, the better it will be for your insurance. Big, powerful cars also cost more to insure than cars with smaller engines, so this is something else to bear in mind if you’re looking for ways to reduce your insurance costs.
Newer and younger drivers tend to be considered higher risk than older, more experienced drivers and this is often reflected in a person’s ability to get a cheap car insurance deal. The more experience you have of driving – and the better your driving record – the more attractive your insurance quotes will be.
Safe drivers with clean licenses cost less to insure than those drivers who have speeding or traffic convictions. Also, the amount you drive can also play a part in how much you have to pay for auto insurance; as a general rule, the less you drive, the less you will have to pay for your insurance. This means that it can be a good idea to work out if there is any way you could use your car less, such as by using alternatives like walking or cycling. This can save you gas money as well as insurance money, so it is definitely something to bear in mind if possible.
Any modifications you make to your car will also affect your motor insurance quotes. If your car comes from the manufacturer with modifications (such as alloy wheels) already made to it, this shouldn’t affect your insurance too much. However, if you make the modifications yourself, you’ll need to declare them to your insurance company and this can have a sizeable impact on your insurance costs. This means that avoiding modifications wherever possible is a good idea.
How safe your car is should also be taken into consideration. Investing in additional security systems might cost you some money up front, but have a car that’s more secure is attractive to insurers and so this will be reflected in your quotes. This is because secure cars are harder to break into and steal. Things such as immobilizers, car alarms and steering locks are all good security additions. Parking your car in a garage is also preferable to parking it on the road.
Something else that affects the cost of your car insurance is your deductible rates, or the amount that you would pay in the event of making a claim on your policy. Raising your deductibles can lower the cost of your policy.
Finally, your choice of insurance company can have a big impact on how much you pay for your insurance, so whenever you are looking for car insurance you should always do careful research. Check to see what’s included in your policy and do a price comparison against other insurers to see which one offers the best deal before making your final choice.