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Car Insurance Costs

Car insurance costs are one of a growing number of everyday items we must all have that continue to increase despite cars being safer and stricter laws in place. This situation is causing problems for people that need their car but are getting to point where they cannot afford to insure it. There are ways you can save money on your premium if you understand how the amount is calculated.

The drivers age will affect the premium greatly as drivers who have not reached twenty five years of age are often penalized as they are believed to be inexperienced in the eyes of providers. Unfortunately for those younger drivers who are safe, they pay the cost for the vast majority who are considered unsafe on the road as accident and moving violation statistics can prove. So the insurance companies who have to pay out on these accidents ensure that those people who are under twenty five will pay more for their car insurance.

Typically, the car you drive will also determine the amount of insurance you will pay so if you are someone who has an older family sedan; you will not pay as much as another person who has a fast sports car. The more expensive the vehicle is the more the premium to insure it will be as it will cost more if there is damage or it has to be replaced when totaled. Great savings can be made just by buying an older vehicle or one with a better safety record.

Many drivers have what is termed a ‘loading’ on their standard insurance premium as they have a bad driving history and this can affect someone of any age If your record show a number of accident, tickets issued by the Police for speeding or dangerous driving then you can expect to pay more for your insurance than someone who has a clean driving history. This attitude from the car insurers is because they know from experience that people with a poor driving history are more likely to claim on their policy.

Annual savings can be made if this information is acted upon as the rise in car insurance costs will continue. There are many factors that can influence the rise and fall of an individual’s vehicle insurance premiums. If you are serious about reducing the amount you ay each year for your vehicle insurance you will pay attention to the information laid out here.

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