Five Things That Increase The Cost Of Vehicle Cover

By Author: Norris Rios
Total Articles: 572
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The cost of car insurance is not cheap these days but this is a type of insurance that drivers who are on the road have to have. Most people are desperate to keep the cost of their car insurance cover down in the current climate, where it has become vital for most of us to try and reduce our outgoings to a more reasonable level by whatever means necessary.

Some people decide to do this by trying to get cheaper car insurance cover so that they can save money on the cost of their premiums. There are some good deals available on the cost of this sort of insurance for those who look around but it is important to remember that there are many different things that can affect the amount that you pay for your cover.

Buying car insurance isn't like going to the local shops and purchasing a product, where everyone pays the same price for the same thing. If you and your friend both had exactly the same car and went to the same insurance firm for a car insurance quote the chances are that the amount you would be asked to pay would be different because there are so many different things that can affect the cost of car insurance ...
... cover.

Some of the more common things that could end up pushing up the cost of cover include:

1. Statistics: Insurance firms are terrible for using statistics in order to set premiums on car insurance and this can prove really detrimental for some drivers. For example, statistically young, male drivers are seen as a higher risk by insurance firms. This means that even if you are a really careful driver the fact that you are young and male could make your premiums shoot up

2. The excess level: The level of excess that you choose when you take out your car insurance will impact on the price. If you choose a lower level of excess, which means that you pay out less from your own pocket in the event of an accident, then the cost of the cover will be higher. You can combat this by choosing a higher level of excess

3. Past claims and convictions: If you have past convictions and claims you will be penalized when it comes to the cost of your cover. There is little that you can do about this and it is not worth the risk of having your insurance cancelled or worse by lying about your driving history

4. Your age and sex: Your age and gender will affect the cost of your cover, and it is often young males who end up being penalized the most when it comes to the cost of cover

5. The vehicle that you have: The vehicle that you are insuring will factor into the cost of cover. If you have a fast, high value, new vehicle you will pay more to insure it than with a low spec, basic vehicle, so bear this in mind before you buy a vehicle