Factors that Affect your Car Insurance

In Northern Ireland, car insurance is generally much higher than the rest of the UK, this is due to a number of factors, taking into account that there are a higher percentage of younger drivers here than overseas. Just like the rest of the UK (and world), insurance is often more expensive for younger drivers. Young people aged 17-19 years old are thought to have the most expensive car insurance due to being less experienced on the road and as a result, statistically more likely to be involved in an accident – with prices staying high until 25 years of age. However, there are a number of other factors beside age that can increase the price you have to pay for insurance.

One of the other most common factors that will influence your insurance is of course the car you drive. The more expensive your car, the more likely it will be pricey to insure. Particularly so if it is rare or has parts that will be expensive to replace if they are stolen or damaged. The more powerful your vehicle is will also have an influence – the larger and more likely it is to cause damage if in an accident means the insurance will have to be more expensive.

Just as rare parts can drive up insurance, so will any modifications to your vehicle. While they will cause an increase in the price you have to pay, it’s important you tell your insurer about any modifications, as failing to do so risks your insurance being rendered invalid. Making your car more desirable, means making it more susceptible to theft, which in turn means more insurance is required.

Other factors that impact your insurance include how often you drive, your location, where you park your car, and what your driving history is. The obvious reducer of price is age, you will notice prices significantly drop after 25 years of age. However, keeping this in mind, there is action you can take to further aid your insurance prices. Here are some of our top tips.

Increase the security of your car. Take steps by having an alarm on your car to deter thieves, and park your car in secure locations: car parks are always a better option than street parking. If possible, keep your car locked in a secure garage overnight. Your driving history will affect your insurance, so by keeping your driving record clean, you’ll benefit from reduced insurance.

When insuring your car, you can add an older and more experienced driver as a “named” driver on your car to reduce your price. The theory behind this is by having a more experienced driver also insured, you will theoretically be behind the wheel less as you are sharing the car.

Additionally, telematics insurance is a great option for young drivers. This requires a “black box” to be fitted in your car which will track factors such as acceleration, speed and braking. The better your score, the cheaper your insurance.

BMG Insurance offer great insurance prices and can give you a free quote. You can get in touch with them via their website or by sending an email to info@bmggroupni.com