What can cause a car insurance rise?
Your car insurance premium can rise at any time. This is because insurance providers reassess the risk of you making a claim based on new information. It is important to be mindful of factors that can cause a rise in your premiums.
Buying a new car will cause a rise in insurance premiums, a little known fact perhaps. This is because a new car has a greater value than an older car and if the car was written off in an accident then the ensuing insurance claim payout would be higher. Therefore, it is important to recognise what effects a new car will have on your insurance premiums. In recent studies it has been found that larger and sturdier models of cars such as vans and trucks will cause a lower increase in premiums as they incur less damage in accidents. However, even some standard cars can cause a significant premium boost; a Honda Civic is popular with younger people who don’t have children and are considered to be more at risk of an accident.
Another incident that can unexpectedly increase your insurance premiums is receiving a speeding ticket or some type of traffic infringement from the police. What you may not know is that insurance providers will scan for any recent traffic infringements made by policy holders periodically and the effects on your premiums can last for years. As is common knowledge, any traffic accidents will substantially increase your premiums as well.
FInally, if you change jobs and it increases the time it takes you to drive to work then it may boost your premiums. Peak hour traffic is a high risk time for accidents so the longer that you are commuting, the higher your risk of accident. In addition, if you have a job that requires a lot of driving such as a delivery driver or salesperson then that will also increase the risk to an insurance provider.
Can I anticipate a car insurance rise?
A car insurance rise in cost can arise from unexpected changes and can affect future compensation claims against insurers that you can make with Accident Advice Helpline.Open Claim Calculator
Accident Advice Helpline can be contacted by calling 0800 689 0500 on landlines or 0333 500 0993 from mobile phones.