What Factors do Car Insurance Providers Consider?

In order to get the most affordable car insurance possible, it is smart to learn about the factors that are used to determine rates. Car insurance providers take many different things into account when calculating online car insurance quotes. In addition to obvious things like your driving record and the number of points that are on your licence, providers take the car you drive into consideration too. They do so by assigning a group to each type of vehicle. The lower the number of your car’s group is, the cheaper it should be to insure.

Understanding Car Insurance Groups

There used to be 20 different car insurance groups. In recent years, that number was raised to 50. The change was primarily made in order to assign more specific information to each vehicle. On the one-to-fifty scale, group one denotes vehicles that have small engines, limited specifications and low price tags. From an insurance standpoint, such vehicles are less likely to produce expensive claims. Group fifty represents expensive cars with powerful engines and numerous fancy options. Those types of vehicles have been deemed to be riskier to insure because they are more likely to result in very expensive claims.

The Factors that Determine a Vehicle’s Group

If you are shopping for a new vehicle, you should pay attention to its insurance group. You can look up such information online, but the following factors will give you a clearer idea about how these groups are determined:

Value when New – Higher price tags generally push vehicles into higher insurance groups, which results in more expensive car insurance.

Cost to Repair – The typical price to repair a vehicle is taken into account when calculating its insurance group. You can expect a higher car insurance quote when you drive a car that is costly to repair.

Time to Repair – Long repair times translate into higher labour charges. In the event of a claim, an insurance provider has to pay more.

Security – Vehicles that are equipped with high-quality anti-theft devices are considered to be less likely to result in expensive claims.

Cost of Parts
– Cars that require hard-to-find, expensive parts tend to fall into higher insurance groups.

Performance – High-performance cars are more likely to be driven at reckless speeds. Therefore, such vehicles tend to end up in higher insurance groups.

Reducing the Cost of Owning a Car with a High Insurance Group

You do not have to despair if the vehicle that you currently own falls into a high insurance group. There are things that you can do to mitigate the issue. Drive safely and conscientiously to enjoy a no-claims discount. Collect several online car insurance quotes to find lower prices and better deals. You might even consider agree to a mileage limit. In that case, you agree to stay below a certain mileage in exchange for a discount. From an insurance provider’s standpoint, lower mileage equals reduced odds of having to pay a claim. One way or another, you should be able to find a good deal on car insurance.

The other car insurance pricing factors

Our last post started looking at the factors used by car insurance companies to provide you a quote.  We focused on the importance of car insurance groups in picking the right car – today we’re going to look at the other key factors.

Is your car modified?

Modified cars increase the cost of your insurance – and some insurers won’t even touch you if your car is “modded”.  The reason?  Well, your typical joyrider would rather steal a souped-up lowered Corsa with tinted windows, body kit and fat exhaust pipe!  So the moral here is – don’t pimp your ride if you want to get cheap insurance!

Where is your car kept overnight and during the day?

This is a fairly straightforward one – the more secure the location of your car, the lower the risk of it being stolen.  If you have off-street parking available to you, it’s a good idea to use it where possible.  This applies for those who commute to work as well as for when the car is at home.

Do you live in a risky neighbourhood?

Insurance companies will have a good idea of the number of vehicle related crimes that happen in your area.  There are certain neighbourhoods and sometimes whole towns that insurers will not provide cover for, as the risk of car theft is simply too high.  Certain areas also have higher instances of “cash for crash” fraud, compounding the problem.

Additional driving qualifications

Passing your driving test is just the first step.  Gaining road experience is critical to becoming a good, safe driver, and there are a number of courses which look to accelerate this process.  Tests like AA Proficiency, Institute of Advanced Motorists and Pass Plus are considered by some insurance when quoting, and for young drivers especially they can make a worthwhile difference to your premium.

No claims discount

There are large discounts available for drivers who have accumulated a history of driving without making claims.  A lack of claims suggests that the driver could be a safer driver, or might engage in less risky driving habits.  New drivers can struggle in this way, given that they haven’t yet had the chance to accumulate such a history.  Many insurers will require proof of your NCD once you’ve taken out a policy.

Convictions, penalties or disqualifications

Conversely to the no claims discount, any explicit signs of your lack of driving safety will have a considerable impact on the price to pay.  You might even need to look for a niche insurer if you have a seriously marked history of bad driving.

In reality, car insurers will use as much data as they can to determine your risk to them.  The above factors are some of the key ones, but as underwriting grows in complexity and becomes supported by additional data sources, the calculations behind your quote will become ever more advanced.

It goes without saying that if you lie about any of the above factors in an attempt to “engineer” a cheaper quote, you could be shooting yourself in the foot.  If you do end up needing to make a claim and your details are checked, your insurance will be invalidated.

Wewillbuyyourcar.com allows you to sell car online

Selling my car online has never been easier with the launch of Wewillbuyyourcar.com. This site understands that selling your car through conventional methods can a long and tricky process; however WWBYC is aiming to allow its users to sell their car online quickly and efficiently.

Wewillbuyyourcar.com will give you a free quote on your car (quotes are not always entirely accurate; contact the support line if you feel your quote is inaccurate). The value of your car is determined by information gathered from your registration number (you will be asked to enter this on the site). One of the major benefits of using WWBYC is the speed of which the funds are released. Within minutes of the car being collected from your house, the money will be released in your bank account.

Some of you may be reluctant to sell your car through the internet because of safety concerns. Rest assured, Wewillbuyyourcar.com verifies all of its transactions through the Bank of Scotland. When I started selling my car online through Wewillbuyyourcar.com, the entire process took less than a week.

WWBYC will arrange for your car to be collected from your house completely free of charge, this is what gives Wewillbuyyourcar.com an edge against similar services. After using Wewillbuyyour.com for a long time, I can personally say I would not use a different service for selling my car online. Many users of WWBYC have provided positive reviews on site, verifying that the process is quick, easy and fair.

In the past, sell car online was something only the tech savvy did, but now anybody can sell their car online with Wewillbuyyourcar.com. Many people are in need of extra money because of the current global financial situation, however by selling you car online you can quickly bring some more money into your bank account. The service is easy, fast and reliable; you have no reason not to sell your car online!

Got Motorbikes On Your Mind – Time to Insure Them!

Insurance is an interesting thing. Sure, no one really wants to think about the premiums, but have you ever stopped and thought about the protection that insurance affords you? When it comes to insurance on vehicles, that protection comes in the form of reduced liability. If you were ever in a collision where you were going to have to shell out thousands of dollars for damages, you could really use some help on your side. That help usually comes in the form of the insurance company. It’s the law to have insurance on any vehicle on the road, since you will want to be able to take care of the medical and/or general damages and costs that someone incurs in the case of an at-fault accident.

When you have your eye on motorbikes, it can really start to become an obsession. We’re motorbike fans as well, and it’s important to put insurance as one of your priorities when you’re really trying to get a motorbike of your very own. A lot of people think about skipping the insurance but this is actually not something that you should do. For starters if you’re going to drive it on public roads, you are going to have to get insurance. Otherwise, if you are caught without the insurance it’s going to mean a stiff penalty.

It’s important to keep in mind that when it comes to motorbikes, you’re not always going to be able to just compare policies by price. That’s like comparing apples to oranges, because not every insurance policy is equal — and the world of motorbike insurance coverage isn’t exempt from this rule either. The truth is that you’re really going to need to do some digging in order to make sure that you really find a great policy that’s going to work for you.

The best way to make sure that you’re saving as much money as you can on your motorbike insurance plan is to make sure that you really do get the best safety features for your motorbike. You want to make sure that you have strong lighting and reflective tape so that you can be seen at night. In addition, you will want to make sure that the brakes and other “stopping” gear has been checked over by a safety-oriented mechanic. That way you can show your insurance company that you’re trying to take security and safety as a priority in your life. They just might be able to reduce your policy’s premiums.

Now is the perfect time to get an insurance policy quote on the motorbikes that you want to purchase — get started today!

Car Insurance

Car insurance is something which every driver has to have. Most people do not give it a lot of through, just when the renewal form comes, they either look on a comparison website and find a cheaper company or just renew with who they have.

It is worth thinking about what your policy covers you for though. It is great having a cheap policy and in these times where everyone is struggling financially, we are all looking for ways to reduce our spending and this is a good one. However, it is worth being very careful and checking what sort of coverage you are getting from your insurance.

Some insurance policies do not include a courtesy car. This means that if your car is being repaired, you will have to pay for a replacement while this is happening. This means that you will have to hire a car, if you need to get to work, drive the children to school or whatever and this is costly. If the repair takes some time then this could end up costing hundreds of pounds, far more than you will have saved on the insurance.

If you do find a policy which is more expensive but has all the cover that you need, then it can be worth looking on line to see if you can find a discount code. There are quite a few websites which offer this facility and you may be able to get some money off. You may also be wise to use a cash back website where you can get a lump sum back if you take out a particular policy. With a combination of these, you could easily end up paying a lot less than you did for your previous year without sacrificing the quality of your cover.

Get a Cheapest car insurance quote

Nowadays, the car maintenance cost is very expensive. Everyone is looking forward to get the best possible price of the cheapest car insurance quote. Someone gets this chance and baffles the innocent people. If you are getting concerned to find the cheapest car insurance quote, then here are some processes that may help you to find so. I have discussed about it in the following passage.

To get a cheap insurance quote, first you have to know where you stand. There are some factors, which keeps you in a high or low risk level. The crime rate and high-risk cities for accidents are the first cause of the higher insurance policy. If your car drives with higher mileage, then the car is more prone to accidents on the roads. Another reason is that if a driver is under the age of 25, then he comes under high level of danger. A driver, who has been responsible for any types of accidents, also comes considered, as a high level of danger.

Women are easily getting cheapest insurance because they commit fewer traffic violations. There is a fact that female are less aggressive than men are. They drive fewer miles each year. The damage tendency of women is less. The insurance companies also consider the zip code or postal code, how much driving experience you have had, the past insurance company reference, how old you are and several aspects.

Therefore, you should compare many companies quite and opt for the best one. It helps you to locate the perfect requirements at a reasonable rate. It is a good idea to know about the insurance firms. At present, there are several firms, which are springing up all over the place. In case, these insurance firms have any special offer for you, it might be good for you as well.