By providing inaccurate information, you could be paying more than you should for your car insurance premium. Below, we highlight some of the misconceptions and top tips to help keep your car insurance premium at bay.
Whilst it’s impossible for insurers to state all the possible jobs in their dropdown menu or list of options, it is important that you select the one which best suits your occupation. If you are not employed but are a stay at home parent, voluntary worker or student, then this should be reflected in this section of the application.
In some instances, an insurer will consider the occupation to be of a high risk, such as professional sports people, and hence would not provide insurance cover– but if you are a sports coach then that should be fine.
Car modifications, age and power
Generally, new cars have better safety features and the drivers are more careful, meaning, less chance of serious accidents and hence lower premiums. Whilst it can be argued that an old car is cheaper to compensate, the insurer looks at the claim from the other party too so the overall cost may be higher.
Moreover, if you own a car with modifications such as alloy wheels and Subwoofers in the boot, then your premiums will go up as the risk of an accident has increased. This is also the case for imported cars and manufacturer add-ons such as a built-in sat nav.
Many people believe that by reducing the amount of miles stated on the application, they will have a reduced premium as they are effectively spending less time on the road. But this is not always the case, especially for new drivers, as less mileage means a lack of experience and hence higher probability of accidents.
Generally having a parent or guardian as the named driver should reduce the premiums but this is only the case if they don’t have lots of points on their license, convictions or work in a high risk environment.
Telematics – Black Box
More for younger drivers, black box technology allows for cheaper premiums as the insurer is effectively able to monitor the usage pattern of the car. The box allows new drivers to become safer on the road and allows the insurer to keep a keen eye on factors such as sharp braking, speeding and times of use (those using the car at night will be considered a higher risk and hence the premiums will reflect accordingly).
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