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Young Driver Motor Insurance

What factors make up car insurance quotes?

As you are probably aware there can be a huge fluctuation in car insurance quotes depending on who you are and your personal circumstances. If you two drivers looking for insurance for the same car, a compare a young person who has just passed their test and someone whose has been driving for a number of years, it is easily possible that the new driver will be paying ten times the amount of money for their policy.

There are around 30 factors that insurance companies take into account when giving a quote which include:

Any no claims bonus?

Building up six years of no claims is normally considered to be a full no claims discount. Telling the insurer that you are a genuinely safe driver and therefore of a low risk to them.

What is your occupation?

Jobs are usually put into split into categories and then given a risk rating. On one end of the scale you have the accountants and teachers, on the other you have careers within the entertainment industry, i.e. an actor/musician which are considered by insurance companies as higher risk people to insure

How old are you?

This is a major factor when giving quotes which may not surprise you. It is said that one in three drivers crash in their first year of driving. For reasons like that, age obviously has to be a big factor when providing a price for a policy.

Where do you live?

If you live in the country you will enjoy lower insurance premiums than in the city due to a number of factors including that you are less likely to have your car bumped or knocked when it is parked on your driveway in the middle of nowhere rather than down a busy street in London.

Other factors that insurance companies consider are; annual mileage, type of car being put on the policy, previous driving offences, current value of the vehicle and car security e.g. immobiliser.