Monday, January 28, 2008

Car Insurance Rate & Additional Policy Benefits

1.Car Insurance Rate

A large number of factors influence automobile insurance premiums. You can control some of them, but others are incontrovertible facts of life. Statistically, a sixteen-year old boy with a 300 horsepower sports car in a big city is far more likely to have an accident than a 35 year-old married guy driving a minivan around the suburbs.

Are you interested? Read about other factors which can have a great impact on your car insurance rate.

Car Insurance Rate Calculation Explained
Read the explanation of car insurance rate calculation. Get to know why you get such a difference in the price of your car insurance.
Cheap Car Insurance
The information will guide you through factors that affect your car insurance rate. Study factors you can change and factors you can’t change.
Credit & Car Insurance Rate
This information explains to you why your credit history influences your car insurance rate. Familiarize yourself with two possible scenarios. Get to know how to improve your score.
Insurance Rate after One Accident
If you are going to purchase car insurance, you need to read helpful information about possible consequences of one accident.
Occupation Influence
Get to know how your occupation can influence your premium. See also where your occupation falls in the Occupation Report.
Rate Affecting Events
Study the material to find out what three events in our life can influence car insurance rate. Look through helpful advice.
Two Channels to Buy Insurance
Your rate may depend on the channel of buying your insurance. Get to know main of them. Explore the reasons of different rates.

2.Additional Policy Benefits

Are you looking for the right car insurance quote for you but can't decide what benefits you should add? Look through common additional benefits offered by UK motor insurance companies.

Different insurance companies offer different benefits. Of course the more benefits you have, the more you have to pay. The most common benefit is the addition of a free courtesy car in the event that your vehicle is off the road due to an accident. Legal protection can also be added, some companies will propose legal help following a 'not at fault' incident. Some car insurance companies offer roadside breakdown service, but not all – often it is cheaper to shop around. Also, it is better to decide whether it's worth paying extra for overseas driving cover.

There are also ways to decrease your premium and get a more competitive quote:
• No claims bonus – Each year you insure your car and do not make a claim you can have a 'no claims bonus' (sometimes known as 'no claims discount'). In some cases a five-year no claims bonus can save you 65% on your premiums.
• Protected no claims bonus – This gives you a possibility to pay a premium so that in the case of an accident you don't lose your no claims bonus. You'll save pounds in the case of any claims you do have to make, although it costs extra to protect your no claims bonus.
• Excess charge – Many companies issue policies that have a 'compulsory excess' (and sometimes a 'voluntary excess'). This refers to the amount of money you are willing to pay in the case of an accident. So if your excess was £100 and the total cost of repairs was £300 then you would pay £100 and the insurance company would also pay £200. Nevertheless, if the cost of repairs was £100 or lower you would pay the total cost. The more money you're willing to pay in excess, the lower your premium.