If you are thinking of getting a car and you want to spend the least amount possible on insurance, you need to know how insurance companies calculate risk. Some details may look benign to you, but they will tell a lot to an insurer about your risk level, and this will be reflected in the quotes they give you. There are some factors, however, that could be under your control or that you could mitigate by taking the right steps. Let's take a look at some of the factors that may affect the cost of your insurance.
Your Marital Status
One thing you should know is that insurance companies will tend to charge you less if you’re married than if you’re single. This idea of married people being more reliable may play a part in it, but it's more of a matter of correlation than anything. It just so happens that people who are married tend to get involved in fewer accidents, and when accidents do happen, they tend to be less serious. This is why insurance companies will prefer to work with married people and give them lower quotes on average.
Your Driving Record
You might already know that your driving record can affect your insurance costs, but you shouldn’t assume that having a few points on your licence will drive your quotes through the roof. If you have fewer than five points on your record, for instance, then the effect on your quote will be minimal. There could be an issue if you have more than that, however. If that's your case, then you can expect to have more trouble finding an insurer and to pay much more on insurance.
There are still plenty of insurers that offer good quotes on car insurance with points, however, so don’t despair. You can also use a comparison service that compares car insurance with points specifically and will give you a series of quotes in seconds. Some of these services will also allow you to get your policy right on the spot to facilitate things for you. So, don’t hesitate to shop around and you’ll eventually find something that falls within your budget.
How You Store Your Vehicle
Do not park your vehicle on the kerb overnight unless you have no choice. The cost will drop if you park it in a driveway, and even more if you can put it into a garage. These are some of the things that will be asked of you when you take out your policy, and you have to be very truthful with your answers. Don't lie about how you're going to store your car and consider building extra space if you have multiple vehicles. This will allow you to save in the long run and reduce the chances of vandalism or theft.
All of these things will affect your insurance quotes. The good news is that you can do something about most of them, so learn as much as you can about how quotes are calculated and do everything you can to present yourself as a less risky option.