Several surprising factors can influence your insurance premium, ranging from your postcode to your marital status.
Your Postcode
Living in a densely populated area increases the likelihood of accidents due to the higher number of vehicles on the road. If your area has a high crime rate, your premium may reflect the added risk of theft and vandalism. Additionally, living in regions prone to adverse weather, such as coastal areas or near rivers susceptible to flooding, can raise your insurance costs due to the potential for water damage.
Where You Park
Parking your car in a garage might seem safer, but it carries risks like potential damage during entry or exit. Parking on a driveway reduces the risk of being hit by passing motorists but still exposes your car to street-level crime. Installing motion-sensor lights and using noisy gravel can deter thieves, though these measures won't directly lower your insurance cost, they might prevent future claims by reducing the risk of theft or damage.
Your Job
Jobs associated with high stress levels or those involving extensive driving, such as sales or delivery roles, can lead to higher premiums. High-powered professionals might face higher costs due to the perceived stress-related risks, while those who drive frequently are statistically more likely to be involved in accidents.
Mileage
The more you drive, the higher your risk of accidents, which can increase your premium. Interestingly, some insurers might charge higher premiums for low-mileage drivers, considering them potentially less confident or accident-prone. To find your annual mileage, check previous MOT or service certificates. Low mileage or pay-as-you-drive insurance plans might offer savings based on your driving habits.
Your Age
Young drivers (ages 17-19) have a higher incidence of serious accidents, leading to higher premiums. Specialized insurance options like learner driver insurance or black box insurance can help reduce costs. Drivers over 75 are also often considered higher risk, despite typically driving less and avoiding busy periods, which can result in increased premiums.
Modifications
Vehicle modifications can significantly impact your insurance costs. High-end entertainment systems may attract thieves, increasing premiums, while security enhancements like immobilizers or parking sensors can reduce costs. Always declare all modifications to your insurer to avoid complications with future claims.
Your Marital Status
Adding a spouse as a named driver can help lower your premium by distributing driving time and thus risk. If your spouse has a good driving record, it may further reduce costs. However, falsely listing a more experienced driver as the main driver (known as fronting) is illegal and can invalidate your insurance and result in criminal charges.
Your Driving History
Your insurance premium is heavily influenced by your driving history, including any claims made in the past five years. A no-claims bonus can significantly reduce your premium, but all claims, even non-fault ones, must be declared. Offenses like speeding can increase costs due to perceived higher risk, and even non-motoring offenses can affect your insurance, potentially requiring specialist coverage.