If you’re going to drive a car on public roads in the UK, then you’ll have to invest in the appropriate car insurance. That much is certain. What might not be certain, however, is the amount of money that you’ll pay for this coverage.
Premiums tend to vary according to a number of different factors, many of which are related to the lifestyle of the driver. Understanding how your lifestyle affects your premiums is crucial when choosing a car insurance policy that best suits your needs.
So, how can you select a policy that’s right for your lifestyle – and is it worth modifying your lifestyle in pursuit of a cheaper premium?
Occupation and Its Effect on Premiums
Certain kinds of professionals will tend to attract higher premiums. For example, delivery drivers might expect to pay a higher premium. This is partly down to the amount of ground you’re covering – but it’s also down to the kinds of personalities attracted to these professions, and the constraints that these professions must work within. If you have a financial incentive to visit as many houses as possible in a given afternoon, then you might also be incentivised to drive recklessly. This will often be reflected in the premium you pay.
Marital Status and Family Dynamics
Single drivers tend to be viewed as higher risk than married ones. Even accounting for things like age and being married can drive down your premium. For many insurers, the difference lies not in the marriage itself, but in your living arrangements. If you live at the same address as your partner, then you might be treated as though you’re married.
If you’re sharing an insurance policy with your partner, then they might be entitled to drive your car. You might drive your costs down as a result. Be sure that the main driver on a policy document actually uses the car for the majority of the time, however. If you don’t, then your insurance could be invalidated, and you could find yourself accused of a criminal offence called ‘fronting’.
Residential Location and Vehicle Storage
Your postcode provides insurers with a clear way to gauge the risk you present. Drivers who live in one area might be statistically more likely to make a claim than those who live in another. The same applies to whether your vehicle is stored in a garage, on a drive, or on the street. Wear and tear tends to be accelerated when cars are left on a kerb all year, and exposed cars are more likely to be targeted by thieves, too.
Annual Mileage and Driving Habits
Finally, we should consider the number of miles you’re putting in every year, and the manner in which you’re driving your car. The former statistic can be conveyed to your insurer by simply reporting what’s on the odometer; the latter can be tracked with the help of a special ‘black box’ device. This will log your driving behaviour, including how fast you’re travelling, and report this information back to your insurer. This can be very helpful for newer drivers in search of lower premiums.
Also Read: How to Choose the Best Car Accident Attorneys for Your Case
