What Affects the Price of Your Comprehensive Car Insurance?

One of the biggest bugbears for many householders is the cost of comprehensive car insurance – even though you may not understand just why the cost of your policy is so high.

Here Clover Insurance, personal insurance services experts who operate in and around North London, identify some of the factors insurers use to set the level of your premium – and how we can help you buy the right policy.

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Location, Location, Location

Insurers look at the number of accidents and claims in your home area before they set your rate. For example, drivers from inner-city areas such as Birmingham, Manchester and Liverpool can expect to pay more than motorists who live in Cornwall or Scotland – even for the same make and model of car.

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It helps if you can put your car in a driveway or garage. This means it is less likely to become a target for thieves and vandals, or be hit by another vehicle when you have parked it up.

Your Annual Mileage and Occupation

The basic rule of thumb is the more miles you do, the more likely you are to have an accident. So anyone who has a long commute to work, does a lot of motoring for pleasure or drives as a part of their job will usually have to pay more for insurance.

Insurance companies also factor in what you are likely to be carrying in your car. If you have a lot of product samples or work-related equipment in your vehicle you can expect to pay a higher premium.

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The Make and Model of Your Vehicle

There are currently 50 car insurance groups in the UK, with No.1 being the cheapest and No. 50 the most expensive. Faster, larger and more powerful cars go into the higher-numbered groups and attract higher premiums. This is partly because it would cost more to replace the vehicle if it was written off in an accident and partly because it may cost more to repair. If you have modified your car in any way, you should always tell your insurer as you may find your existing policy may not be sufficient. You can find out more by reading our blog here.

However, it does not always follow that just because you have a less powerful car that your premium will be lower. As well as looking at the other factors listed here, insurers also consider how much damage your car could do to other vehicles in an accident as well as to your own.

Your Age and Personal History

Insurance for younger drivers has always been more costly, because they are less experienced and therefore more likely to have an accident. Figures show that 10% of motorists have an accident within six months of passing their test and a similar percentage commit some sort of driving offence within two years, according to a survey by the Department of Transport.

And if you have a criminal conviction – not necessarily for a motoring offence – then insurers believe you are more likely to be involved in an accident and make a claim.

Any Optional Extras

Sometimes your policy can be more expensive if you choose to include some optional extras for added protection, such as legal protection in the event of a contested claim or a replacement vehicle while your own car is off the road. Adding an extra named driver, such as another member of the family, can also mean you paying more, particularly if that person is younger and has less experience behind the wheel.

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Some insurers include these clauses as standard while others do not, so you will find that it pays to shop around – or to buy a policy through an experienced broker like Clover Insurance.

Personal Insurance Services from Clover Insurance

Clover Insurance offer competitively priced comprehensive car insurance policies to customers in North London. We will make sure you have the right amount of cover you need and at a competitive price. Cover can be arranged with just one phone call.

We also offer a range of other motoring policies, including car breakdown insurance, motor fleet insurance and van insurance. If you would like to know more about any of our products, call us on 020 8805 1121.