There are quite a number of different circumstances that raise car insurance premiums. An example of such events include driver-fault accidents; these will raise your premiums by the next renewal date. However, should your no-claims benefits be protected, then the premiums should remain the same even if a claim has been made. Your premiums may rise if you make a claim for your car being stolen and have no claims protection. Car insurance companies that offer protected cover are generally a bit more expensive to buy when you first take out the insurance.
If you are caught for motoring offenses, there is a good chance your insurance premiums will rise. Certain offenses like driving while intoxicated could raise your insurance premiums significantly. Your car insurance may remain at a higher level for some years until the offense is considered redeemed by the insurers.
It is the policies holder’s duty to inform the insurance company if he or she has certain medical conditions that may affect your driving. Examples of medical conditions include short-sighted eyes, or insulin dependent diabetes. These illnesses and some others, if newly diagnosed, may increase the policy holder’s insurance premiums.
A change of address may also affect your insurance premiums. This is because insurers deem some places to more susceptible to crime than others. Even if you don’t move outside your area, where you park your car may increase your insurance premiums. For example, if you parked your car on the drive or in a garage at your old address, and now have to park on the road, this may affect your premiums.
If you change your car to a car that has a higher performance than the old one, this might increase your premium. The car make and model of a new car too has a bearing on premiums. Cars that have to be imported from certain countries may also increase insurance costs. Expensive body and engine parts on some luxury cars are another reason for premium increase.
Adding an additional driver to your insurance may also increase your annual premium. This will be especially true if the additional driver is under 25 years of age.
Lastly, staying with the same insurance company may be needlessly expensive. Before your next renewal, it might be well worthwhile to look around online and get an insurance premium comparison. If you take the trouble to look around, then you may be pleasantly surprised by how much your insurance comes down in price.