Your age, gender, the area you live and the type of car you drive. These are the major factors that determine the how high or low the premium can be. Your driving history may also be looked into i.e. are you reckless when driving? There is also a new option that insurance companies are now using. It is called “Paying A Higher Excess”. This option was not there before but now many insurance companies are using this practice. It enables you to offset the cost of an incident against your premium thereby reducing your monthly premium. Your insurer should be able to give you the levels of higher excess you can pay.
Security is very important in determining the level of premium. Is your car parked safely in a garage where thieves can not easily break in? Have you installed some security devices like the immobilizer? If these things are in place, your insurance company will give you a lower premium as it reduces the liabilities they have to face incase of any claim. Security devices make auto insurance companies friendlier and this makes them reduce the insurance premium you have to pay on your car. How to start?
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Tags: Auto Insurance, motor insurance