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- Age
– the less experienced you are as a driver and the younger you
are, the more costly the premiums;
- Engine
size – the bigger the engine, the more expensive the premiums;
- Value
of your car – the cost to replace or repair the car factors greatly
in the premium cost;
- Insurance
group – the majority of cars on the road today are grouped by risk
by the insurance industry. An example would be two small hatchbacks
being of similar risk and thus in the same or at least neighbouring
groups. A high end sports car like a Ferrari would, however, be
in a much higher risk group; Your
motoring history – if you have a history of traffic offences then
your premium will likely be higher;
- Your
job and its associated mileage – if you drive as part of your job
then you will accumulate more miles than someone who drives primarily
on weekends and thus be deemed a higher risk;
- Where
you live – in general the more densely populated an area you live
in the more likely you are to have an accident or have your car
stolen – thus the premium will be higher;
- Options
of the insurance cover – the size of the excess charge and any
other benefits that might be part of the cover. An example of a
benefit would be a courtesy car will yours is being repaired. Regarding
the excess charge the higher it is, the lower your premiums will
be.
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